Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 09667643 Mrs Siew Ee Lee Mr Satvinder Singh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09667643 2022-07-31 09667643 2023-07-31 09667643 2022-08-01 2023-07-31 09667643 frs-core:CurrentFinancialInstruments 2023-07-31 09667643 frs-core:Non-currentFinancialInstruments 2023-07-31 09667643 frs-core:InvestmentPropertyIncludedWithinPPE 2023-07-31 09667643 frs-core:InvestmentPropertyIncludedWithinPPE 2022-07-31 09667643 frs-core:ShareCapital 2023-07-31 09667643 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 09667643 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09667643 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 09667643 frs-bus:SmallEntities 2022-08-01 2023-07-31 09667643 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 09667643 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 09667643 frs-bus:Director1 2022-08-01 2023-07-31 09667643 frs-bus:Director2 2022-08-01 2023-07-31 09667643 frs-countries:EnglandWales 2022-08-01 2023-07-31 09667643 2021-07-31 09667643 2022-07-31 09667643 2021-08-01 2022-07-31 09667643 frs-core:CurrentFinancialInstruments 2022-07-31 09667643 frs-core:Non-currentFinancialInstruments 2022-07-31 09667643 frs-core:ShareCapital 2022-07-31 09667643 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 09667643
Virik Properties Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09667643
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 317,000 295,000
317,000 295,000
CURRENT ASSETS
Debtors 5 100 100
Cash at bank and in hand 267,073 260,948
267,173 261,048
Creditors: Amounts Falling Due Within One Year 6 (80,500 ) (65,500 )
NET CURRENT ASSETS (LIABILITIES) 186,673 195,548
TOTAL ASSETS LESS CURRENT LIABILITIES 503,673 490,548
Creditors: Amounts Falling Due After More Than One Year 7 (500,000 ) (500,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (5,235 )
NET ASSETS/(LIABILITIES) 3,673 (14,687 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 3,573 (14,787 )
SHAREHOLDERS' FUNDS 3,673 (14,687)
Page 1
Page 2
For the year ending 31 July 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Satvinder Singh
Director
16/04/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Virik Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09667643 . The registered office is 127 Beechwood Avenue, Coventry, CV5 6FQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
2.3. Investment Properties
Investment properties are measured at fair value determined annually and adjusted if necessary for any difference in the nature, location or condition of the specific asset. The fair value of property was obtained from an online property resource company and has not been based on a valuation by an independent valuer with a professional qualification.
Changes in fair value are recognised in the profit and loss account.
2.4. Deferred Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
2 2
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 August 2022 295,000
Revaluation 22,000
As at 31 July 2023 317,000
Net Book Value
As at 31 July 2023 317,000
As at 1 August 2022 295,000
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 100 100
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 80,250 65,250
Directors' loan accounts 250 250
80,500 65,500
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 500,000 500,000
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Related Party Transactions
At 31st July 2023 Virik Properties Ltd owed £580,250 (2022 - £565,250) to Virik Consulting Ltd, a company in which Mr S Singh is a director and shareholder. Interest is payable at 3% per annum and the capital amount is repayable on 31st December 2025 in full.
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