Registered number
10831444
VIZAG ESTATES LIMITED
Filleted Accounts
30 June 2021
VIZAG ESTATES LIMITED
Registered number: 10831444
Balance Sheet
as at 30 June 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 408,602 410,547
Current assets
Debtors 4 1,475 1,475
Cash at bank and in hand 1,295 61,597
2,770 63,072
Creditors: amounts falling due within one year 5 (93,727) (152,533)
Net current liabilities (90,957) (89,461)
Total assets less current liabilities 317,645 321,086
Creditors: amounts falling due after more than one year 6 (315,212) (315,212)
Net assets 2,433 5,874
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,333 5,774
Shareholders' funds 2,433 5,874
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Chander Shekar Poothi
Director
Approved by the board on 29 July 2022
VIZAG ESTATES LIMITED
Notes to the Accounts
for the year ended 30 June 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2020 404,008 9,699 413,707
At 30 June 2021 404,008 9,699 413,707
Depreciation
At 1 July 2020 - 3,160 3,160
Charge for the year - 1,945 1,945
At 30 June 2021 - 5,105 5,105
Net book value
At 30 June 2021 404,008 4,594 408,602
At 30 June 2020 404,008 6,539 410,547
4 Debtors 2021 2020
£ £
Trade debtors 1,475 1,475
5 Creditors: amounts falling due within one year 2021 2020
£ £
Other creditors 93,727 152,533
6 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 315,212 315,212
7 Other information
VIZAG ESTATES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Suite 27 Milton Keynes Business Centre
Foxhunter Drive
Milton Keynes
MK14 6GD
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