VJA.Whincup Properties Limited Filleted Accounts Cover
VJA.Whincup Properties Limited
Company No. 04277710
Information for Filing with The Registrar
31 March 2023
VJA.Whincup Properties Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 March 2023.
Principal activities
The principal activity of the company during the year under review was other letting and operating of own or leased real estate.
Directors
The Directors who served at any time during the year were as follows:
V.J. Sanderson
A.E. Whincup
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
V.J. Sanderson
Director
02 October 2023
VJA.Whincup Properties Limited Balance Sheet Registrar
at
31 March 2023
Company No.
04277710
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
452,398301,969
452,398301,969
Current assets
Cash at bank and in hand
1181,628
1181,628
Creditors: Amount falling due within one year
5
(97,072)
(107,055)
Net current liabilities
(96,954)
(105,427)
Total assets less current liabilities
355,444196,542
Creditors: Amounts falling due after more than one year
6
(78,875)
(105,566)
Provisions for liabilities
Deferred taxation
(30,553)
-
Net assets
246,01690,976
Capital and reserves
Called up share capital
55
Non distributable reserve
7
127,501-
Profit and loss account
7
118,51090,971
Total equity
246,01690,976
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 02 October 2023
And signed on its behalf by:
V.J. Sanderson
Director
02 October 2023
VJA.Whincup Properties Limited Notes to the Accounts Registrar
for the year ended 31 March 2023
1
General information
Its registered number is: 04277710
Its registered office is:
28 Ditton Green
Woodditton
Newmarket
CB8 9SQ
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Freehold buildings
2% Straight line
Furniture, fittings and equipment
25% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
22
4
Tangible fixed assets
Land and buildings
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 April 2022
400,65731,570432,227
Additions
-2,1682,168
Revaluation
157,408-157,408
At 31 March 2023
558,06533,738591,803
Depreciation
At 1 April 2022
101,05129,207130,258
Charge for the year
8,0141,1339,147
At 31 March 2023
109,06530,340139,405
Net book values
At 31 March 2023
449,0003,398452,398
At 31 March 2022
299,606
2,363
301,969
Freehold land and buildings
2023
2022
£
£
Historical cost
299,605
-
Cumulative depreciation based upon historical cost
160,395
-
460,000
-
Revaluation conducted on 16th February 2023 by PPH Commercial, in consideration of possible sale of the property.
5
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
28,41643,313
Taxes and social security
10,442
13,065
Loans from directors
13,9616,459
Other creditors
43,13843,138
Accruals and deferred income
1,1151,080
97,072107,055
Bank loans include the mortgage on the freehold property. The mortgage is secured against the property.
6
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
78,875105,566
78,875105,566
7
Reserves
Non distributable reserve
Total other reserves
£
£
Movement on reserve
127,501
127,501
At 31 March 2023
127,501127,501
Non distributable reserve - represents the revaluation of freehold property
Profit and loss account - includes all current and prior period retained profits and losses.
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