0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-29 Sage Accounts Production Advanced 2023 - FRS102_2023 240,000 240,000 240,000 xbrli:pure xbrli:shares iso4217:GBP 02134291 2022-09-29 2023-09-28 02134291 2023-09-28 02134291 2022-09-28 02134291 2021-09-29 2022-09-28 02134291 2022-09-28 02134291 2021-09-28 02134291 bus:Director6 2022-09-29 2023-09-28 02134291 core:WithinOneYear 2023-09-28 02134291 core:WithinOneYear 2022-09-28 02134291 core:ShareCapital 2023-09-28 02134291 core:ShareCapital 2022-09-28 02134291 core:RevaluationReserve 2023-09-28 02134291 core:RevaluationReserve 2022-09-28 02134291 core:OtherReservesSubtotal 2023-09-28 02134291 core:OtherReservesSubtotal 2022-09-28 02134291 core:RetainedEarningsAccumulatedLosses 2023-09-28 02134291 core:RetainedEarningsAccumulatedLosses 2022-09-28 02134291 core:LandBuildings core:LongLeaseholdAssets 2023-09-28 02134291 core:LandBuildings core:LongLeaseholdAssets 2022-09-28 02134291 bus:SmallEntities 2022-09-29 2023-09-28 02134291 bus:AuditExempt-NoAccountantsReport 2022-09-29 2023-09-28 02134291 bus:SmallCompaniesRegimeForAccounts 2022-09-29 2023-09-28 02134291 bus:PrivateLimitedCompanyLtd 2022-09-29 2023-09-28 02134291 bus:FullAccounts 2022-09-29 2023-09-28
COMPANY REGISTRATION NUMBER: 02134291
VARNDEAN PARK ESTATE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 September 2023
VARNDEAN PARK ESTATE LIMITED
STATEMENT OF FINANCIAL POSITION
28 September 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
240,000
240,000
Current assets
Debtors
5
3,142
3,467
Creditors: amounts falling due within one year
6
11,717
11,735
---------
---------
Net current liabilities
8,575
8,268
----------
----------
Total assets less current liabilities
231,425
231,732
----------
----------
Net assets
231,425
231,732
----------
----------
Capital and reserves
Called up share capital
1,600
1,600
Revaluation reserve
140,743
140,743
Other reserves
30,561
30,561
Profit and loss account
58,521
58,828
----------
----------
Shareholders funds
231,425
231,732
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
VARNDEAN PARK ESTATE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 September 2023
These financial statements were approved by the board of directors and authorised for issue on 4 April 2024 , and are signed on behalf of the board by:
C G Rigby
Director
Company registration number: 02134291
VARNDEAN PARK ESTATE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 SEPTEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Dean Wilson LLP, Ridgeland House, 165 Dyke Road, Brighton, BN3 1TL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Long leasehold property
£
Cost
At 29 September 2022 and 28 September 2023
240,000
----------
Depreciation
At 29 September 2022 and 28 September 2023
----------
Carrying amount
At 28 September 2023
240,000
----------
At 28 September 2022
240,000
----------
5. Debtors
2023
2022
£
£
Other debtors
3,142
3,467
-------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
1,413
1,430
Unsecured loan notes
10,200
10,201
Other creditors
104
104
---------
---------
11,717
11,735
---------
---------