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REGISTERED NUMBER: 12270899 (England and Wales)















Financial Statements for the Year Ended 29 October 2022

for

Victer Ltd

Victer Ltd (Registered number: 12270899)






Contents of the Financial Statements
for the Year Ended 29 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Victer Ltd

Company Information
for the Year Ended 29 October 2022







DIRECTORS: Mrs V Smullen
T W Smullen





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 12270899 (England and Wales)





ACCOUNTANTS: Cobham Murphy
116 Duke Street
Liverpool
Merseyside
L1 5JW

Victer Ltd (Registered number: 12270899)

Balance Sheet
29 October 2022

29.10.22 29.10.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,274 1,656
Investment property 5 2,462,509 1,743,116
2,464,783 1,744,772

CURRENT ASSETS
Debtors 6 59,747 36,178
Cash at bank 44,847 3,854
104,594 40,032
CREDITORS
Amounts falling due within one year 7 266,409 160,810
NET CURRENT LIABILITIES (161,815 ) (120,778 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,302,968

1,623,994

CREDITORS
Amounts falling due after more than one
year

8

(1,887,706

)

(1,277,391

)

PROVISIONS FOR LIABILITIES (315 ) -
NET ASSETS 414,947 346,603

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 264,461 264,461
Retained earnings 150,386 82,042
SHAREHOLDERS' FUNDS 414,947 346,603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 October 2022 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.

Victer Ltd (Registered number: 12270899)

Balance Sheet - continued
29 October 2022


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2023 and were signed on its behalf by:





T W Smullen - Director


Victer Ltd (Registered number: 12270899)

Notes to the Financial Statements
for the Year Ended 29 October 2022

1. STATUTORY INFORMATION

Victer Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable on property rental, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised as the rents become due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Victer Ltd (Registered number: 12270899)

Notes to the Financial Statements - continued
for the Year Ended 29 October 2022

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 2 (2021 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30 October 2021 2,483
Additions 2,166
At 29 October 2022 4,649
DEPRECIATION
At 30 October 2021 827
Charge for year 1,548
At 29 October 2022 2,375
NET BOOK VALUE
At 29 October 2022 2,274
At 29 October 2021 1,656

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 October 2021 1,743,116
Additions 921,701
Disposals (202,308 )
At 29 October 2022 2,462,509
NET BOOK VALUE
At 29 October 2022 2,462,509
At 29 October 2021 1,743,116

Victer Ltd (Registered number: 12270899)

Notes to the Financial Statements - continued
for the Year Ended 29 October 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.10.22 29.10.21
£    £   
Other debtors 59,747 36,178

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.10.22 29.10.21
£    £   
Bank loans and overdrafts 5,800 -
Amounts owed to associates 240,697 141,909
Taxation and social security 18,962 18,901
Other creditors 950 -
266,409 160,810

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.10.22 29.10.21
£    £   
Bank loans 1,887,706 1,277,391

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,870,306 1,277,391

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 29 October 2022 and the period ended 29 October 2021:

29.10.22 29.10.21
£    £   
T W Smullen
Balance outstanding at start of year - -
Amounts advanced 22,247 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,247 -

10. RELATED PARTY DISCLOSURES

Included within other creditors is a balance of £237,513, (2021, £141,909), owing to Danwil Limited, a company in which Mr T Smullen has a significant interest.

Included within other creditors is a balance of £3,184, (2021, £nil), owing to TWS 50 Limited, a company in which Mr T Smullen has a significant interest.

All loans are interest free and repayable on demand.