Vertir Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC208542 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

VERTIR LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTOR:

Trevor Stanley Rea

REGISTERED OFFICE:

12 - 16 Albyn Place

Aberdeen

AB10 1PS

REGISTERED NUMBER:

SC208542 (Scotland)

ACCOUNTANTS:

Acumen Accountants and Advisors Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeenshire

AB12 4XX

FIXED ASSETS

Tangible assets

4

-

257

Investments

5

1,651,211

1,386,408

1,651,211

1,386,665

CURRENT ASSETS

Debtors

6

75

-

Cash at bank

543,720

571,100

543,795

571,100

CREDITORS

Amounts falling due within one year

7

2,455

(413

)

NET CURRENT ASSETS

541,340

571,513

TOTAL ASSETS LESS CURRENT LIABILITIES

2,192,551

1,958,178

PROVISIONS FOR LIABILITIES

8

120,030

73,279

NET ASSETS

2,072,521

1,884,899

CAPITAL AND RESERVES

Called up share capital

1

1

Fair value reserve

9

511,707

312,301

Retained earnings

9

1,560,813

1,572,597

SHAREHOLDERS' FUNDS

2,072,521

1,884,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 August 2022 and were signed by:

Trevor Stanley Rea - Director

1.	STATUTORY INFORMATION

Vertir Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Computer equipment

-

33% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Investments

Investments in shares are included at fair value.

Deferred taxation

Deferred tax is recognised in all respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in the tax assessments in periods different from in which they are recognised in the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 December 2020

and 30 November 2021

340

51,019

51,359

DEPRECIATION

At 1 December 2020

340

50,762

51,102

Charge for year

-

257

257

At 30 November 2021

340

51,019

51,359

NET BOOK VALUE

At 30 November 2021

-

-

-

At 30 November 2020

-

257

257

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 December 2020

1,386,408

Additions

2,625

Revaluations

262,178

At 30 November 2021

1,651,211

NET BOOK VALUE

At 30 November 2021

1,651,211

At 30 November 2020

1,386,408

Cost or valuation at 30 November 2021 is represented by:

Listed

investments

£

Valuation in 2016

278,261

Valuation in 2017

108,937

Valuation in 2018

(53,485

)

Valuation in 2019

101,152

Valuation in 2020

(49,113

)

Valuation in 2021

245,985

Cost

1,019,474

1,651,211

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

75

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

(1,116

)

(1,525

)

Other creditors

3,571

1,112

2,455

(413

)

8.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

Other timing differences

120,030

73,279

Deferred

tax

£

Balance at 1 December 2020

73,279

Provided during year

46,751

Balance at 30 November 2021

120,030

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 December 2020

1,572,597

312,301

1,884,898

Profit for the year

227,622

227,622

Dividends

(40,000

)

(40,000

)

Revaluation

(199,406

)

199,406

-

At 30 November 2021

1,560,813

511,707

2,072,520

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2021 and 30 November 2020:

2021

2020

£

£

Trevor Stanley Rea

Balance outstanding at start of year

(1,111

)

231

Amounts repaid

(312

)

(1,342

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,423

)

(1,111

)

This loan is interest free and has no fixed repayment terms.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vertir Limited for the year ended 30 November 2021 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Vertir Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vertir Limited and state those matters that we have agreed to state to the director of Vertir Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Vertir Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vertir Limited. You consider that Vertir Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Vertir Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Acumen Accountants and Advisors Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeenshire

AB12 4XX

24 August 2022