IRIS Accounts Production v23.4.0.336 11856005 director 1.9.22 31.8.23 31.8.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh118560052022-08-31118560052023-08-31118560052022-09-012023-08-31118560052021-08-31118560052021-09-012022-08-31118560052022-08-3111856005ns15:EnglandWales2022-09-012023-08-3111856005ns14:PoundSterling2022-09-012023-08-3111856005ns10:Director12022-09-012023-08-3111856005ns10:PrivateLimitedCompanyLtd2022-09-012023-08-3111856005ns10:SmallEntities2022-09-012023-08-3111856005ns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3111856005ns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3111856005ns10:SmallCompaniesRegimeForAccounts2022-09-012023-08-3111856005ns10:FullAccounts2022-09-012023-08-3111856005ns10:RegisteredOffice2022-09-012023-08-3111856005ns5:CurrentFinancialInstruments2023-08-3111856005ns5:CurrentFinancialInstruments2022-08-3111856005ns5:Non-currentFinancialInstruments2023-08-3111856005ns5:Non-currentFinancialInstruments2022-08-3111856005ns5:ShareCapital2023-08-3111856005ns5:ShareCapital2022-08-3111856005ns5:RevaluationReserve2023-08-3111856005ns5:RevaluationReserve2022-08-3111856005ns5:RetainedEarningsAccumulatedLosses2023-08-3111856005ns5:RetainedEarningsAccumulatedLosses2022-08-3111856005ns5:CostValuation2022-08-3111856005ns5:DisposalsRepaymentsInvestments2023-08-3111856005ns5:RevaluationsIncreaseDecreaseInInvestments2023-08-3111856005ns5:CostValuation2023-08-3111856005ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-08-3111856005ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-08-3111856005ns5:RevaluationReserve2022-08-31
REGISTERED NUMBER: 11856005 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Vietec Investments Ltd

Vietec Investments Ltd (Registered number: 11856005)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vietec Investments Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTOR: P J Drew





REGISTERED OFFICE: 182 Worcester Road
Bromsgrove
Worcestershire
B61 7AZ





REGISTERED NUMBER: 11856005 (England and Wales)





ACCOUNTANTS: Attwoods
Chartered Certified Accountants
182 Worcester Road
Bromsgrove
Worcestershire
B61 7AZ

Vietec Investments Ltd (Registered number: 11856005)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 101,736 102,978
Investment property 5 744,338 412,000
846,074 514,978

CURRENT ASSETS
Cash at bank 204,092 238,698

CREDITORS
Amounts falling due within one year 6 485,577 434,858
NET CURRENT LIABILITIES (281,485 ) (196,160 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

564,589

318,818

CREDITORS
Amounts falling due after more than one
year

7

(488,250

)

(259,500

)

PROVISIONS FOR LIABILITIES (16,573 ) -
NET ASSETS 59,766 59,318

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 8 49,718 53,802
Retained earnings 9,948 5,416
SHAREHOLDERS' FUNDS 59,766 59,318

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

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

The director acknowledges his 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.

Vietec Investments Ltd (Registered number: 11856005)

Balance Sheet - continued
31 August 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 director and authorised for issue on 27 November 2023 and were signed by:





P J Drew - Director


Vietec Investments Ltd (Registered number: 11856005)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Vietec Investments Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

Vietec Investments Ltd (Registered number: 11856005)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 September 2022 102,978
Disposals (731 )
Revaluations (511 )
At 31 August 2023 101,736
NET BOOK VALUE
At 31 August 2023 101,736
At 31 August 2022 102,978

Cost or valuation at 31 August 2023 is represented by:

Other
investments
£   
Valuation in 2022 4,978
Valuation in 2023 (511 )
Cost 97,269
101,736

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 412,000
Additions 319,338
Revaluations 13,000
At 31 August 2023 744,338
NET BOOK VALUE
At 31 August 2023 744,338
At 31 August 2022 412,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2021 61,824
Valuation in 2022 (13,000 )
Valuation in 2023 13,000
Cost 682,514
744,338

Vietec Investments Ltd (Registered number: 11856005)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Owed to companies under common control 483,790 433,754
Taxation and social security 1,051 680
Other creditors 736 424
485,577 434,858

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 488,250 259,500

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 488,250 259,500

8. RESERVES
Revaluation
reserve
£   
At 1 September 2022 53,802
Revaluations 12,489
Deferred tax (16,573 )

At 31 August 2023 49,718

9. RELATED PARTY DISCLOSURES

Included within creditors is an amount of £483,754 (2021 - £433,754) owing to Vietec Holdings Ltd, a company under common control. This amount is unsecured, interest free and has no fixed date for repayment.