REGISTERED NUMBER: |
Report of the Director and |
Unaudited Financial Statements |
for the Year Ended 30 April 2023 |
for |
Vixen Properties Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
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: |
Vixen Properties Limited (Registered number: 07089735) |
Statement of Income and |
Retained Earnings |
for the Year Ended 30 April 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER |
Administrative expenses |
OPERATING PROFIT |
Interest payable and similar expenses |
PROFIT BEFORE TAXATION |
Tax on profit | 4 |
PROFIT FOR THE FINANCIAL YEAR |
Retained earnings at beginning of year |
RETAINED EARNINGS AT END OF YEAR |
Vixen Properties Limited (Registered number: 07089735) |
Balance Sheet |
30 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 were approved by the director and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
Overprovision in prior year | - | (29 | ) |
Total current tax |
Deferred tax |
Tax on profit |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 May 2022 |
and 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
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 |
Additions |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security | ( |
) |
Accruals and deferred income |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
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. |