REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
VNM Investments Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
VNM Investments Ltd |
VNM Investments Ltd (Registered number: 08205060) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
VNM Investments Ltd |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Old Rectory |
Springhead Road |
Northfleet |
Kent |
DA11 8HN |
VNM Investments Ltd (Registered number: 08205060) |
Abridged Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 | ( |
) | ( |
) |
Investment property | 7 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings | ( |
) | ( |
) |
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. |
VNM Investments Ltd (Registered number: 08205060) |
Abridged Balance Sheet - continued |
31 March 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
VNM Investments Ltd (Registered number: 08205060) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
VNM Investments Ltd is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Rental income from operating leases (net of any incentives given to the lessees) is recognised when the right to receive payment is established. |
Tangible fixed assets |
Plant and machinery | - |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
6. | FIXED ASSET INVESTMENTS |
The balance held within Fixed Asset Investment represents the company’s capital accounts outstanding as at the balance sheet date in VNM Developments LLP. |
VNM Investments Ltd (Registered number: 08205060) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
Additions |
Revaluations | 91,388 |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2017 | 307,610 |
Valuation in 2018 | 50,000 |
Valuation in 2021 | 109,999 |
Valuation in 2023 | 91,388 |
Cost | 1,691,003 |
2,250,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
31.3.23 | 31.3.22 |
£ | £ |
Cost | 1,691,003 | 1,626,385 |
Investment property was valued on an open market basis on 31 March 2023 by the directors. . |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
31.3.23 | 31.3.22 |
£ | £ |
Repayable otherwise than by instalments |
Bank loans due more than 5 years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans | 1,320,613 | 1,315,468 |
The bank loans are secured against the properties held within investment property. |
VNM Investments Ltd (Registered number: 08205060) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2022 |
Reserve transfer | 68,541 |
At 31 March 2023 |
11. | RELATED PARTY DISCLOSURES |
During the period the company borrowed £444 from the directors. At the end of the period, the amount owed to the directors amounted to £9,564 (2022: £9,120).The loans are included within creditors due within one year, are free of interest and repayable on demand. |
At the end of the period the amount owed to a closely connected person to the directors was £271 (2022: £271). The loan is included within creditors due within one year, is free of interest and repayable on demand. |
During the period the company repaid £3,732 of a loan from Jayan Ltd, which is a shareholder of the company. At the end of the period the amount owed to Jayan Ltd was £0 (2022: £3,732). The loan was included within creditors due within one year, was free of interest and repayable on demand. |
At the end of the period the amount owed to N Pokar Ltd was £90,000 (2022: £90,000). N Pokar Ltd is a shareholder of the company. The loan is included within creditors due within one year, is free of interest and repayable on demand. |
At the end of the period the amount owed to VNM Properties Ltd was £157,830 (2022: £157,830). VNM Properties Ltd is under the control of closely connected persons to the directors. The loan is included within creditors due within one year, is free of interest and repayable on demand. |
During the period the company borrowed £40,000 from Pokar Property Ltd. At the end of the period, the amounts owed to Pokar Property Ltd was £40,000 (2022: £0). Pokar Property Ltd is under the control of closely connected persons to the directors. The loan is included within creditors due within one year, is free of interest and repayable on demand. |
12. | COVID-19 BUSINESS SUPPORT |
The company received £0 (2022: £625) of grants covering some of the interest due on the Bounce Back loan during the period. No conditions or other contingencies have been applied to the grant. |