Company Registration No. NI629235 (Northern Ireland)
Varry Properties Limited
Unaudited accounts
for the year ended 28 February 2023
Varry Properties Limited
Unaudited accounts
Contents
Varry Properties Limited
Company Information
for the year ended 28 February 2023
Directors
Mrs Joan Hogg
Mr Matthew John Hogg
Company Number
NI629235 (Northern Ireland)
Registered Office
36 INISHROOSK ROAD
LISNASKEA
ENNISKILLEN
BT92 0PH
NORTHERN IRELAND
Accountants
W F Lemon & Co Ltd
76 Main Street
Lisnaskea
Co Fermanagh
BT92 0JD
Varry Properties Limited
Statement of financial position
as at 28 February 2023
Inventories
126,077
126,077
Creditors: amounts falling due within one year
(130,041)
(128,579)
Net current assets
57,833
51,438
Total assets less current liabilities
57,833
51,438
Creditors: amounts falling due after more than one year
(46,667)
(42,667)
Called up share capital
2,400
2,400
Profit and loss account
8,766
6,371
Shareholders' funds
11,166
8,771
For the year ending 28 February 2023 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by
Mr Matthew John Hogg
Director
Company Registration No. NI629235
Varry Properties Limited
Notes to the Accounts
for the year ended 28 February 2023
Varry Properties Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI629235. The registered office is 36 INISHROOSK ROAD, LISNASKEA, ENNISKILLEN, BT92 0PH, NORTHERN IRELAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Inventories include properties held for resale.
Properties held for resale are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the properties to their location and condition.
Amounts falling due within one year
Trade debtors
12,500
8,250
Other debtors
49,297
45,690
Varry Properties Limited
Notes to the Accounts
for the year ended 28 February 2023
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
1,915
1,353
Other creditors
125,736
125,736
6
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
46,667
42,667
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).