Viewpoint Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06811446 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

VIEWPOINT PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr T Tsirtsipis

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

06811446 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certifed Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

1,200,000

1,200,000

CURRENT ASSETS

Debtors

5

136,600

107,600

Cash at bank and in hand

3,655

875

140,255

108,475

CREDITORS

Amounts falling due within one year

6

433,871

373,102

NET CURRENT LIABILITIES

(293,616

)

(264,627

)

TOTAL ASSETS LESS CURRENT LIABILITIES

906,384

935,373

CREDITORS

Amounts falling due after more than one year

7

(34,018

)

(77,355

)

PROVISIONS FOR LIABILITIES

10

(64,500

)

(64,500

)

NET ASSETS

807,866

793,518

CAPITAL AND RESERVES

Called up share capital

11

2

2

Fair value reserve

12

495,572

495,572

Retained earnings

312,292

297,944

SHAREHOLDERS' FUNDS

807,866

793,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 November 2023 and were signed by:

Mr T Tsirtsipis - Director

1.	STATUTORY INFORMATION

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

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

not provided

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in 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 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 1 April 2022

and 31 March 2023

1,200,000

NET BOOK VALUE

At 31 March 2023

1,200,000

At 31 March 2022

1,200,000

Cost or valuation at 31 March 2023 is represented by:

Freehold

property

£

Valuation in 2017

210,072

Valuation in 2018

350,000

Cost

639,928

1,200,000

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.3.23

31.3.22

£

£

Cost

639,928

639,928

Freehold land and buildings were valued on an open market basis on 31 March 2023 by the director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

136,600

107,600

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts (see note 8)

297,927

303,493

Tax

5,910

7,648

VAT

1,880

1,004

Other Loans

127,654

59,357

Accrued expenses

500

1,600

433,871

373,102

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans (see note 8)

34,018

77,355

8.

LOANS

An analysis of the maturity of loans is given below:

31.3.23

31.3.22

£

£

Amounts falling due within one year or on demand:

Bank loans

297,927

303,493

Amounts falling due between one and two years:

Bank loans - 1-2 years

22,206

44,655

Amounts falling due between two and five years:

Bank loans - 2-5 years

11,812

32,700

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.23

31.3.22

£

£

Bank loans

331,945

380,848

10.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

64,500

64,500

Deferred

tax

£

Balance at 1 April 2022

64,500

Balance at 31 March 2023

64,500

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

2

Ordinary

1

2

2

12.

RESERVES

Fair

value

reserve

£

At 1 April 2022

and 31 March 2023

495,572