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Registered Number: 14174367
England and Wales

 

 

 

R VARGA COMMERCIAL LIMITED


Abridged Accounts
 


Period of accounts

Start date: 15 June 2022

End date: 30 June 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of R Varga Commercial Limited for the year ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R Varga Commercial Limited for the year ended 30 June 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of R Varga Commercial Limited, as a body, in accordance with the terms of our engagement letter dated 23 February 2024. Our work has been undertaken solely to prepare for your approval the accounts of R Varga Commercial Limited and state those matters that we have agreed to state to the Board of Directors of R Varga Commercial Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R Varga Commercial Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R Varga Commercial Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of R Varga Commercial Limited. You consider that R Varga Commercial Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of R Varga Commercial Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended
30 June 2023



....................................................
aa Chartered Accountants
Fenlake House
Fenlake Business Centre
Peterborough
PE1 5BQ
23 February 2024
1
 
 
Notes
 
2023
£
Fixed assets    
Tangible fixed assets 3 633,868 
633,868 
Current assets    
Debtors 28,312 
Cash at bank and in hand 5,594 
33,906 
Creditors: amount falling due within one year (263,064)
Net current liabilities (229,158)
 
Total assets less current liabilities 404,710 
Creditors: amount falling due after more than one year (423,194)
Accruals and deferred income (4,329)
Net liabilities (22,813)
 

Capital and reserves
   
Called up share capital 4 100 
Profit and loss account (22,913)
Shareholder's funds (22,813)
 


For the period ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 23 February 2024 and were signed on its behalf by:


-------------------------------
Robert Varga
Director
2
General Information
R Varga Commercial Limited is a private company, limited by shares, registered in England and Wales, registration number 14174367, registration address 36 The Street, Manuden, Bishop's Stortford, England, CM23 1DJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Average number of employees

Average number of employees during the period was 2.
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 15 June 2022  
Additions 633,868    633,868 
Disposals  
At 30 June 2023 633,868    633,868 
Depreciation
At 15 June 2022  
Charge for period  
On disposals  
At 30 June 2023  
Net book values
Closing balance as at 30 June 2023 633,868    633,868 
Opening balance as at 15 June 2022  


4.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
100 Class A shares of £1.00 each 100 
100 

3