VPK Developments Holding Ltd 11034023 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is property development. Digita Accounts Production Advanced 6.30.9574.0 true true 11034023 2022-05-01 2023-04-30 11034023 2023-04-30 11034023 bus:OrdinaryShareClass1 2023-04-30 11034023 bus:Original 2023-04-30 11034023 core:CurrentFinancialInstruments 2023-04-30 11034023 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 11034023 core:Non-currentFinancialInstruments 2023-04-30 11034023 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 11034023 bus:SmallEntities 2022-05-01 2023-04-30 11034023 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 11034023 bus:FullAccounts 2022-05-01 2023-04-30 11034023 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 11034023 bus:RegisteredOffice 2022-05-01 2023-04-30 11034023 bus:CompanySecretary1 2022-05-01 2023-04-30 11034023 bus:Director2 2022-05-01 2023-04-30 11034023 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 11034023 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11034023 countries:EnglandWales 2022-05-01 2023-04-30 11034023 2021-05-01 2022-04-30 11034023 2022-04-30 11034023 bus:OrdinaryShareClass1 2022-04-30 11034023 core:CurrentFinancialInstruments 2022-04-30 11034023 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 11034023 core:Non-currentFinancialInstruments 2022-04-30 11034023 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11034023

VPK Developments Holding Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

VPK Developments Holding Ltd

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

VPK Developments Holding Ltd

Company Information
__________________________________________________________________________

Director

K Harsiani

Company secretary

V Patel

Registered office

22 Cassiobury Park Avenue
Watford
WD18 7LB


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

VPK Developments Holding Ltd

(Registration number: 11034023)
Balance Sheet as at 30 April 2023
__________________________________________________________________________

Note

2023
£

2022
£

Current assets

 

Stocks

3

1,304,462

1,295,252

Investments

4

1

1

Cash at bank and in hand

 

1,534

5,886

 

1,305,997

1,301,139

Creditors: Amounts falling due within one year

5

(11,900)

(11,580)

Total assets less current liabilities

 

1,294,097

1,289,559

Creditors: Amounts falling due after more than one year

5

(1,472,776)

(1,396,350)

Net liabilities

 

(178,679)

(106,791)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(178,779)

(106,891)

Shareholders' deficit

 

(178,679)

(106,791)

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 25 January 2024
 

.........................................
K Harsiani
Director

 

VPK Developments Holding Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

VPK Developments Holding Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
__________________________________________________________________________

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

3

Stocks

2023
£

2022
£

Work in progress

1,304,462

1,295,252

4

Current asset investments

2023
£

2022
£

Shares in group undertakings

1

1

 

VPK Developments Holding Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
__________________________________________________________________________

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

380

Taxation and social security

1,800

1,800

Accruals and deferred income

10,100

9,400

11,900

11,580

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

1,472,776

1,396,350

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

473,350

Other borrowings

1,472,776

923,000

1,472,776

1,396,350