V & M ASSETS LIMITED

Company Registration Number:
10598052 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 01 March 2022

End date: 28 February 2023

V & M ASSETS LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

V & M ASSETS LIMITED

Company Information

for the Period Ended 28 February 2023




Director: Viral Bhatt
Registered office: 23
Chandos Road
London
GBR
HA5 1PR
Company Registration Number: 10598052 (England and Wales)

V & M ASSETS LIMITED

Directors' Report Period Ended 28 February 2023

The directors present their report with the financial statements of the company for the period ended 28 February 2023

Principal Activities

The company's principal activity during the year was that of property investment and lettings.

Additional information

This report was approved by the board on 18 November 2023 and signed on its behalf. As at the year end the company owed £174,603 jointly to both shareholders of the company. The company is under joint control of Mr Viral Bhatt and Mrs Mital Shah. Each own 50% of share capital of the company.

Directors

The directors shown below have held office during the whole of the period from 01 March 2022 to 28 February 2023
Viral Bhatt

This report was approved by the board of directors on 18 November 2023
And Signed On Behalf Of The Board By:

Name: Viral Bhatt
Status: Director

V & M ASSETS LIMITED

Profit and Loss Account

for the Period Ended 28 February 2023


Notes

2023
£

2022
£
Turnover 10,350 9,982
Gross Profit or (Loss) 10,350 9,982
Administrative Expenses ( 7,640 ) ( 7,184 )
Operating Profit or (Loss) 2,710 2,798
Profit or (Loss) Before Tax 2,710 2,798
Tax on Profit ( 515 ) ( 520 )
Profit or (Loss) for Period 2,195 2,278

The notes form part of these financial statements

V & M ASSETS LIMITED

Balance sheet

As at 28 February 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 4 176,991 176,991
Total fixed assets: 176,991 176,991
Current assets
Cash at bank and in hand: 2,876 5,061
Total current assets: 2,876 5,061
Creditors: amounts falling due within one year: 5 ( 174,916 ) ( 179,291 )
Net current assets (liabilities): ( 172,040 ) ( 174,230 )
Total assets less current liabilities: 4,951 2,761
Provision for liabilities: ( 515 ) ( 520 )
Total net assets (liabilities): 4,436 2,241

The notes form part of these financial statements

V & M ASSETS LIMITED

Balance sheet continued

As at 28 February 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 4,336 2,141
Shareholders funds: 4,436 2,241

For the year ending 28 February 2023 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 18 November 2023
And Signed On Behalf Of The Board By:

Name: Viral Bhatt
Status: Director

The notes form part of these financial statements

V & M ASSETS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers during the year.

V & M ASSETS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 0 0

V & M ASSETS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 3. Off balance sheet disclosure

    No

V & M ASSETS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Tangible assets

Land & buildings Total
Cost £ £
At 01 March 2022 176,991 176,991
Additions 0 0
Disposals ( 0 ) ( 0 )
Revaluations 0 0
Transfers 0 0
At 28 February 2023 176,991 176,991
Depreciation
At 01 March 2022 0 0
Charge for year 0 0
On disposals ( 0 ) ( 0 )
Other adjustments 0 0
At 28 February 2023 0 0
Net book value
At 28 February 2023 176,991 176,991
At 28 February 2022 176,991 176,991

Properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of properties.

V & M ASSETS LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

5.Creditors: amounts falling due within one year note


2023
£

2022
£
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 0 0
Taxation and social security 0 0
Accruals and deferred income 313 313
Other creditors 174,603 178,978
Total 174,916 179,291

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities areinitially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.