Silverfin false false 31/08/2023 01/09/2022 31/08/2023 Henry Courtenay-Stamp 04/06/2019 Bronwen Keeling 04/06/2019 Paul Keeling 04/06/2019 Lucy Keeling 04/06/2019 01 April 2024 The principal activity of the Company during the financial year was the letting of properties. 12030896 2023-08-31 12030896 bus:Director1 2023-08-31 12030896 bus:Director2 2023-08-31 12030896 bus:Director3 2023-08-31 12030896 bus:Director4 2023-08-31 12030896 2022-08-31 12030896 core:CurrentFinancialInstruments 2023-08-31 12030896 core:CurrentFinancialInstruments 2022-08-31 12030896 core:Non-currentFinancialInstruments 2023-08-31 12030896 core:Non-currentFinancialInstruments 2022-08-31 12030896 core:ShareCapital 2023-08-31 12030896 core:ShareCapital 2022-08-31 12030896 core:FurtherSpecificReserve3ComponentTotalEquity 2023-08-31 12030896 core:FurtherSpecificReserve3ComponentTotalEquity 2022-08-31 12030896 core:RetainedEarningsAccumulatedLosses 2023-08-31 12030896 core:RetainedEarningsAccumulatedLosses 2022-08-31 12030896 core:FurnitureFittings 2022-08-31 12030896 core:FurnitureFittings 2023-08-31 12030896 core:CostValuation 2022-08-31 12030896 core:AdditionsToInvestments 2023-08-31 12030896 core:CostValuation 2023-08-31 12030896 2022-09-01 2023-08-31 12030896 bus:FilletedAccounts 2022-09-01 2023-08-31 12030896 bus:SmallEntities 2022-09-01 2023-08-31 12030896 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 12030896 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12030896 bus:Director1 2022-09-01 2023-08-31 12030896 bus:Director2 2022-09-01 2023-08-31 12030896 bus:Director3 2022-09-01 2023-08-31 12030896 bus:Director4 2022-09-01 2023-08-31 12030896 core:FurnitureFittings 2022-09-01 2023-08-31 12030896 2021-09-01 2022-08-31 iso4217:GBP xbrli:pure

Company No: 12030896 (England and Wales)

V & V PROPERTY AND INVESTMENTS LTD

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

V & V PROPERTY AND INVESTMENTS LTD

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

V & V PROPERTY AND INVESTMENTS LTD

COMPANY INFORMATION

For the financial year ended 31 August 2023
V & V PROPERTY AND INVESTMENTS LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2023
DIRECTORS Henry Courtenay-Stamp
Bronwen Keeling
Paul Keeling
Lucy Keeling
REGISTERED OFFICE Donnithornes
Mill Street
Ottery St Mary
EX11 1AF
United Kingdom
COMPANY NUMBER 12030896 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
V & V PROPERTY AND INVESTMENTS LTD

BALANCE SHEET

As at 31 August 2023
V & V PROPERTY AND INVESTMENTS LTD

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 12,198 0
Investment property 4 1,438,505 925,000
Investments 5 8,470 0
1,459,173 925,000
Current assets
Debtors 6 0 350
Cash at bank and in hand 6,736 22,200
6,736 22,550
Creditors: amounts falling due within one year 7 ( 603,943) ( 305,336)
Net current liabilities (597,207) (282,786)
Total assets less current liabilities 861,966 642,214
Creditors: amounts falling due after more than one year 8 ( 706,400) ( 506,400)
Provision for liabilities ( 12,331) ( 9,717)
Net assets 143,235 126,097
Capital and reserves
Called-up share capital 100 100
Undistributable reserve 137,901 137,901
Profit and loss account 5,234 ( 11,904 )
Total shareholders' funds 143,235 126,097

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of V & V Property and Investments LTD (registered number: 12030896) were approved and authorised for issue by the Board of Directors on 01 April 2024. They were signed on its behalf by:

Paul Keeling
Director
V & V PROPERTY AND INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
V & V PROPERTY AND INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

V & V Property and Investments LTD (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Donnithornes, Mill Street, Ottery St Mary, EX11 1AF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of lettings services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 15 % reducing balance
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 September 2022 0 0
Additions 13,689 13,689
At 31 August 2023 13,689 13,689
Accumulated depreciation
At 01 September 2022 0 0
Charge for the financial year 1,491 1,491
At 31 August 2023 1,491 1,491
Net book value
At 31 August 2023 12,198 12,198
At 31 August 2022 0 0

4. Investment property

Investment property
£
Valuation
As at 01 September 2022 925,000
Additions 513,505
As at 31 August 2023 1,438,505

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 September 2022 0 0
Additions 8,470 8,470
At 31 August 2023 8,470 8,470
Carrying value at 31 August 2023 8,470 8,470
Carrying value at 31 August 2022 0 0

6. Debtors

2023 2022
£ £
Other debtors 0 350

7. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 603,943 305,336

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 706,400 506,400