Registered number
03437395
Vesrise Limited
Filleted Accounts
30 September 2023
Vesrise Limited
Registered number: 03437395
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,048,861 1,158,861
Investments 4 100 100
1,048,961 1,158,961
Current assets
Debtors 5 48,419 48,276
Cash at bank and in hand 90,707 60,155
139,126 108,431
Creditors: amounts falling due within one year 6 (117,861) (132,321)
Net current assets/(liabilities) 21,265 (23,890)
Total assets less current liabilities 1,070,226 1,135,071
Creditors: amounts falling due after more than one year 7 (517,261) (580,124)
Net assets 552,965 554,947
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 204,322 279,322
Profit and loss account 348,543 275,525
Shareholders' funds 552,965 554,947
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Peter Dulson
Director
Approved by the board on 7 March 2024
Vesrise Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 October 2022 1,158,861
Disposals (110,000)
At 30 September 2023 1,048,861
Depreciation
At 30 September 2023 -
Net book value
At 30 September 2023 1,048,861
At 30 September 2022 1,158,861
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 October 2022 100
At 30 September 2023 100
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 42,690 41,946
Other debtors 5,729 6,330
48,419 48,276
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,836 21,293
Trade creditors 845 1,096
Taxation and social security costs 18,713 22,596
Other creditors 94,467 87,336
117,861 132,321
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 517,261 580,124
8 Revaluation reserve 2023 2022
£ £
At 1 October 2022 279,322 354,322
Transfer (75,000) (75,000)
At 30 September 2023 204,322 279,322
9 Related party transactions
Included within other creditors is £85,127 due to Vesrise Construction Ltd. The directors and shareholders of Vesrise Ltd are also directors and shareholders of Vesrise Construction Ltd.
10 Other information
Vesrise Limited is a private company limited by shares and incorporated in England. Its registered office is:
41 Marlowe Road
Wallasey
Merseyside
CH44 3DB
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