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REGISTERED NUMBER: 06753843 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Velida Properties Limited

Velida Properties Limited (Registered number: 06753843)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Velida Properties Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S J Dawson
P Ligertwood
C B Vecchione





REGISTERED OFFICE: 30 Bankside Court
Stationfields
Kidlington
Oxfordshire
OX5 1JE





REGISTERED NUMBER: 06753843 (England and Wales)





ACCOUNTANTS: Chapman Robinson and Moore Limited
30 Bankside Court
Stationfields
Kidlington
Oxford
OX5 1JE

Velida Properties Limited (Registered number: 06753843)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 250,000 650,000
250,000 650,000

CURRENT ASSETS
Debtors 6 1,337 21,512
Cash at bank 460,025 110,674
461,362 132,186
CREDITORS
Amounts falling due within one year 7 (77,167 ) (49,073 )
NET CURRENT ASSETS 384,195 83,113
TOTAL ASSETS LESS CURRENT
LIABILITIES

634,195

733,113

PROVISIONS FOR LIABILITIES 8 (21,040 ) (44,120 )
NET ASSETS 613,155 688,993

CAPITAL AND RESERVES
Called up share capital 3 3
Revaluation reserve 9 89,696 188,090
Retained earnings 523,456 500,900
613,155 688,993

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 directors acknowledge their 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.

Velida Properties Limited (Registered number: 06753843)

Balance Sheet - continued
31 March 2023


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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by:





C B Vecchione - Director


Velida Properties Limited (Registered number: 06753843)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Velida 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.
Plant and machinery etc - 20% on reducing balance

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Velida Properties Limited (Registered number: 06753843)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 1,256
DEPRECIATION
At 1 April 2022
and 31 March 2023 1,256
NET BOOK VALUE
At 31 March 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 650,000
Disposals (433,332 )
Revaluations 33,332
At 31 March 2023 250,000
NET BOOK VALUE
At 31 March 2023 250,000
At 31 March 2022 650,000

Investment properties were purchased at historical cost of £139,263 (2022: £417,790).

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2019 19,071
Valuation in 2020 16,667
Valuation in 2021 10,000
Valuation in 2022 31,667
Valuation in 2023 33,332
Cost 139,263
250,000

Velida Properties Limited (Registered number: 06753843)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors - 20,335
Other debtors 1,337 1,177
1,337 21,512

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade creditors 10 9
Taxation and social security 75,692 40,952
Other creditors 1,465 8,112
77,167 49,073

8. PROVISIONS FOR LIABILITIES
31/3/23 31/3/22
£    £   
Deferred tax 21,040 44,120

Deferred
tax
£   
Balance at 1 April 2022 44,120
Provided during year (23,080 )
Balance at 31 March 2023 21,040

9. RESERVES
Revaluation
reserve
£   
At 1 April 2022 188,090
Transfer on disposal (98,394 )

At 31 March 2023 89,696