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REGISTERED NUMBER: 08755823 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

VAS PROPERTIES LIMITED

VAS PROPERTIES LIMITED (REGISTERED NUMBER: 08755823)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VAS PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Mrs T Vasiliou
Mr N A Vasiliou
Miss A Vasiliou
Mr A Vasiliou





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 08755823 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

VAS PROPERTIES LIMITED (REGISTERED NUMBER: 08755823)

BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 57,750 77,000
Tangible assets 5 319,238 318,214
Investment property 6 1,211,449 914,477
1,588,437 1,309,691

CURRENT ASSETS
Stocks 7 3,770 1,771
Debtors 8 11,587 9,749
Cash at bank and in hand 158,055 126,077
173,412 137,597
CREDITORS
Amounts falling due within one year 9 348,265 158,151
NET CURRENT LIABILITIES (174,853 ) (20,554 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,413,584

1,289,137

CREDITORS
Amounts falling due after more than one
year

10

(503,252

)

(479,632

)

PROVISIONS FOR LIABILITIES 12 (33,272 ) (36,330 )
NET ASSETS 877,060 773,175

CAPITAL AND RESERVES
Called up share capital 13 100 100
Fair value reserve 164,656 161,598
Retained earnings 712,304 611,477
SHAREHOLDERS' FUNDS 877,060 773,175

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

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.

VAS PROPERTIES LIMITED (REGISTERED NUMBER: 08755823)

BALANCE SHEET - continued
31 OCTOBER 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by:





Mr N A Vasiliou - Director


VAS PROPERTIES LIMITED (REGISTERED NUMBER: 08755823)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Vas Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts derived from the provision of services to customers during the year, and is recognised at the date the service was provided. This is stated after trade discounts, other sales taxes and net of VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


VAS PROPERTIES LIMITED (REGISTERED NUMBER: 08755823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 192,500
AMORTISATION
At 1 November 2022 115,500
Amortisation for year 19,250
At 31 October 2023 134,750
NET BOOK VALUE
At 31 October 2023 57,750
At 31 October 2022 77,000

VAS PROPERTIES LIMITED (REGISTERED NUMBER: 08755823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 308,643 3,797 25,557 2,869 340,866
Additions - 4,257 298 - 4,555
At 31 October 2023 308,643 8,054 25,855 2,869 345,421
DEPRECIATION
At 1 November 2022 - 1,856 19,482 1,314 22,652
Charge for year - 1,549 1,593 389 3,531
At 31 October 2023 - 3,405 21,075 1,703 26,183
NET BOOK VALUE
At 31 October 2023 308,643 4,649 4,780 1,166 319,238
At 31 October 2022 308,643 1,941 6,075 1,555 318,214

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 914,477
Additions 296,972
At 31 October 2023 1,211,449
NET BOOK VALUE
At 31 October 2023 1,211,449
At 31 October 2022 914,477

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2017 197,928
Cost 1,013,521
1,211,449

7. STOCKS
31.10.23 31.10.22
£    £   
Stocks 3,770 1,771

VAS PROPERTIES LIMITED (REGISTERED NUMBER: 08755823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 4,451 4,199
Deposits 2,600 2,200
Prepayments and accrued income 4,536 3,350
11,587 9,749

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts (see note 11) 82,579 63,039
Trade creditors 23,811 2,947
Tax 33,243 36,913
Social security and other taxes 855 1,903
Pension 211 65
VAT 29,178 27,755
Other creditors 2,828 2,200
Directors' current accounts 158,199 12,414
Deferred income 12,300 6,798
Accrued expenses 5,061 4,117
348,265 158,151

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans (see note 11) 503,252 479,632

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 172,711 227,477

11. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 82,579 63,039

Amounts falling due between one and two years:
Bank loans - 1-2 years 82,579 63,039

VAS PROPERTIES LIMITED (REGISTERED NUMBER: 08755823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


11. LOANS - continued
31.10.23 31.10.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 247,962 189,116

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 172,711 227,477

12. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 33,272 36,330

Deferred
tax
£   
Balance at 1 November 2022 36,330
Provided during year (3,058 )
Balance at 31 October 2023 33,272

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
100 Ordinary shares £1 100 100