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REGISTERED NUMBER: 07089735 (England and Wales)













Report of the Director and

Unaudited Financial Statements

for the Year Ended 30 April 2023

for

Vixen Properties Limited

Vixen Properties Limited (Registered number: 07089735)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Report of the Director 2

Statement of Income and Retained Earnings 3

Balance Sheet 4

Notes to the Financial Statements 6


Vixen Properties Limited

Company Information
for the Year Ended 30 April 2023







DIRECTOR: A J Mallon





REGISTERED OFFICE: Unit 73 Jay Avenue
Teesside Industrial Estate
THORNABY
Stockton On Tees
TS17 9LZ





REGISTERED NUMBER: 07089735 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Vixen Properties Limited (Registered number: 07089735)

Report of the Director
for the Year Ended 30 April 2023

The director presents his report with the financial statements of the company for the year ended 30 April 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of other letting and operating of own or leased real estate.

DIRECTOR
A J Mallon held office during the whole of the period from 1 May 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A J Mallon - Director


24 August 2023

Vixen Properties Limited (Registered number: 07089735)

Statement of Income and
Retained Earnings
for the Year Ended 30 April 2023

2023 2022
Notes £    £   

TURNOVER 216,000 216,000

Administrative expenses 76,492 20,399
OPERATING PROFIT 139,508 195,601


Interest payable and similar expenses 10,319 7,710
PROFIT BEFORE TAXATION 129,189 187,891

Tax on profit 4 27,672 48,400
PROFIT FOR THE FINANCIAL YEAR 101,517 139,491

Retained earnings at beginning of year 1,861,013 1,721,522

RETAINED EARNINGS AT END OF
YEAR

1,962,530

1,861,013

Vixen Properties Limited (Registered number: 07089735)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 19,776 27,958
Investment property 6 2,661,496 2,446,292
2,681,272 2,474,250

CURRENT ASSETS
Debtors 7 2,730 10,430
Cash at bank 7,595 40,747
10,325 51,177
CREDITORS
Amounts falling due within one year 8 577,142 466,419
NET CURRENT LIABILITIES (566,817 ) (415,242 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,114,455

2,059,008

CREDITORS
Amounts falling due after more than one
year

9

(135,089

)

(184,472

)

PROVISIONS FOR LIABILITIES (15,836 ) (12,523 )
NET ASSETS 1,963,530 1,862,013

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,962,530 1,861,013
1,963,530 1,862,013

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Vixen Properties Limited (Registered number: 07089735)

Balance Sheet - continued
30 April 2023


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

The financial statements were approved by the director and authorised for issue on 24 August 2023 and were signed by:





A J Mallon - Director


Vixen Properties Limited (Registered number: 07089735)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Vixen 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Income is recognised when the conditions contained within a contract for services have been met.

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 - 10% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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.


Vixen Properties Limited (Registered number: 07089735)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
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 NIL (2022 - NIL).

4. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 24,359 35,906
Overprovision in prior year - (29 )
Total current tax 24,359 35,877

Deferred tax 3,313 12,523
Tax on profit 27,672 48,400

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 May 2022
and 30 April 2023 81,829
DEPRECIATION
At 1 May 2022 53,871
Charge for year 8,182
At 30 April 2023 62,053
NET BOOK VALUE
At 30 April 2023 19,776
At 30 April 2022 27,958

Vixen Properties Limited (Registered number: 07089735)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 2,446,292
Additions 215,204
At 30 April 2023 2,661,496
NET BOOK VALUE
At 30 April 2023 2,661,496
At 30 April 2022 2,446,292

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 7,941
Prepayments and accrued income 2,730 2,489
2,730 10,430

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 57,325 99,863
Trade creditors 4,785 16,620
Amounts owed to group undertakings 515,106 318,810
Taxation and social security (1,855 ) 29,584
Accruals and deferred income 1,781 1,542
577,142 466,419

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 57,325 127,147
Bank loans - 2-5 years 77,764 57,325
135,089 184,472

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 192,414 284,335

The bank loans are secured against the assets of the company.

Vixen Properties Limited (Registered number: 07089735)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

11. RELATED PARTY DISCLOSURES

The company received rent of £216,000 (2022: £216,000) from Vixen Surface Treatments Limited. This company is also owned and managed by Mr A J Mallon. Amounts owed to Vixen Surface Treatments Limited in the year totalled £515,106 (2022: £318,810).

12. ULTIMATE CONTROLLING PARTY

The controlling party is A J Mallon.