REGISTERED NUMBER: |
VJM Properties Limited |
Unaudited Financial Statements |
for the Year Ended 31 January 2023 |
REGISTERED NUMBER: |
VJM Properties Limited |
Unaudited Financial Statements |
for the Year Ended 31 January 2023 |
VJM Properties Limited (Registered number: 10356410) |
Contents of the Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
VJM Properties Limited |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants & Business Advisors |
Highdale House |
7 Centre Court |
Treforest Industrial Estate |
Pontypridd |
Rhondda Cynon Taff |
CF37 5YR |
VJM Properties Limited (Registered number: 10356410) |
Balance Sheet |
31 January 2023 |
31.1.23 | 31.1.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
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 |
VJM Properties Limited (Registered number: 10356410) |
Notes to the Financial Statements |
for the Year Ended 31 January 2023 |
1. | STATUTORY INFORMATION |
VJM Properties Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is recognised in the period to which the rental income relates. It is recognised at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. |
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 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. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Going concern |
The financial statements have been prepared on a going concern basis. The directors have considered the assets and liabilities of the company and are of the opinion that the company will continue to meet its liabilities as they fall due, with the financial support of the directors. The directors are satisfied that the company is a going concern. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
VJM Properties Limited (Registered number: 10356410) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2022 |
and 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Other creditors |
Accrued expenses |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.1.23 | 31.1.22 |
£ | £ |
Bank loans |
Barclays Bank PLC hold a fixed and floating charge over all the property or undertakings of the company. They hold specific charges over Flat 3 and 4 St Mary's Court, Burry Port. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.23 | 31.1.22 |
value: | £ | £ |
Ordinary | £1 | 50 | 50 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 February 2022 |
Profit for the year |
At 31 January 2023 |
VJM Properties Limited (Registered number: 10356410) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The director's loan account is non-interest bearing and is repayable on demand. |
M V McCormick has a personal guarantee in place, in relation to the mortgage, of £60,000. |