Silverfin false 31/03/2023 01/04/2022 31/03/2023 Collette Ann Creaven 19/06/2018 Kay Creaven 31/08/2018 Mary Winifred Creaven 31/08/2018 Mark Aaron Wildman 31/08/2018 22 November 2023 The principal activity of the Company during the financial year was rental of commercial property. 11422554 2023-03-31 11422554 bus:Director1 2023-03-31 11422554 bus:Director2 2023-03-31 11422554 bus:Director3 2023-03-31 11422554 bus:Director4 2023-03-31 11422554 2022-03-31 11422554 core:CurrentFinancialInstruments 2023-03-31 11422554 core:CurrentFinancialInstruments 2022-03-31 11422554 core:ShareCapital 2023-03-31 11422554 core:ShareCapital 2022-03-31 11422554 core:RetainedEarningsAccumulatedLosses 2023-03-31 11422554 core:RetainedEarningsAccumulatedLosses 2022-03-31 11422554 2021-03-31 11422554 core:AcceleratedTaxDepreciationDeferredTax 2023-03-31 11422554 core:AcceleratedTaxDepreciationDeferredTax 2022-03-31 11422554 bus:OrdinaryShareClass1 2023-03-31 11422554 2022-04-01 2023-03-31 11422554 bus:FullAccounts 2022-04-01 2023-03-31 11422554 bus:SmallEntities 2022-04-01 2023-03-31 11422554 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11422554 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11422554 bus:Director1 2022-04-01 2023-03-31 11422554 bus:Director2 2022-04-01 2023-03-31 11422554 bus:Director3 2022-04-01 2023-03-31 11422554 bus:Director4 2022-04-01 2023-03-31 11422554 2021-04-01 2022-03-31 11422554 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 11422554 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 11422554 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11422554 (England and Wales)

VANDUFF LTD

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

VANDUFF LTD

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

VANDUFF LTD

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
VANDUFF LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 766,860 766,860
766,860 766,860
Current assets
Debtors 4 11,110 4,685
Cash at bank and in hand 118,411 87,513
129,521 92,198
Creditors: amounts falling due within one year 5 ( 672,497) ( 708,278)
Net current liabilities (542,976) (616,080)
Total assets less current liabilities 223,884 150,780
Provision for liabilities 6 ( 29,008) ( 25,413)
Net assets 194,876 125,367
Capital and reserves
Called-up share capital 7 300 300
Profit and loss account 194,576 125,067
Total shareholders' funds 194,876 125,367

For the financial year ending 31 March 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 Vanduff Ltd (registered number: 11422554) were approved and authorised for issue by the Director on 22 November 2023. They were signed on its behalf by:

Mark Aaron Wildman
Director
VANDUFF LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
VANDUFF LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Vanduff 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 New Creaven House, 3 Sandy Court, Ashleigh Way, Plymouth, PL7 5JX, 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings 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.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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 Statement of Financial Position 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Investment property

Investment property
£
Valuation
As at 01 April 2022 766,860
As at 31 March 2023 766,860

Valuation

The fair value of the investment property at the year end has been determined by the directors, on an open market value for existing use basis.

4. Debtors

2023 2022
£ £
Prepayments and accrued income 11,110 4,685

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 487,633 544,758
Accruals 13,667 8,542
Corporation tax 13,787 13,512
Other taxation and social security 4,145 4,552
Other creditors 153,265 136,914
672,497 708,278

There are no amounts included above in respect of which any security has been given by the small entity.

6. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 25,413) ( 16,582)
Charged to the Statement of Income and Retained Earnings ( 3,595) ( 8,831)
At the end of financial year ( 29,008) ( 25,413)

The deferred taxation balance is made up as follows:

2023 2022
£ £
Accelerated capital allowances ( 29,008) ( 25,413)

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
300 Ordinary shares of £ 1.00 each 300 300

8. Related party transactions

Transactions with owners holding a participating interest in the entity

At the year end, the company owed £153,265 (2022: £136,914) to a company controlled by the directors, this amount has been included within other creditors. During the year, rental income of £48,750 (2022: £48,750) was received from the entity.

Transactions with the entity's directors

At the year end, the company owed the directors £487,633 (2022: £544,758).