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Company Registration No. 11178413 (England and Wales)
Varona Properties Ltd Unaudited accounts for the year ended 31 December 2023
Varona Properties Ltd Unaudited accounts Contents
Page
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Varona Properties Ltd Company Information for the year ended 31 December 2023
Director
Darrell Oakley
Company Number
11178413 (England and Wales)
Registered Office
167-169 Great Portland Street 5th Floor London W1W 5PF England
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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Varona Properties Ltd Accountants' report
Accountants' report to the director of Varona Properties Ltd on the preparation of the unaudited statutory accounts for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Varona Properties Ltd for the year ended 31 December 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Varona Properties Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Varona Properties Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Varona Properties Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Varona Properties Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Varona Properties Ltd. You consider that Varona Properties Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Varona Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN 4 March 2024
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Varona Properties Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
385,132 
385,132 
Current assets
Debtors
- 
1,300 
Cash at bank and in hand
3,177 
4,648 
3,177 
5,948 
Creditors: amounts falling due within one year
(3,779)
(5,972)
Net current liabilities
(602)
(24)
Total assets less current liabilities
384,530 
385,108 
Creditors: amounts falling due after more than one year
(95,000)
(105,000)
Net assets
289,530 
280,108 
Capital and reserves
Called up share capital
250,000 
250,000 
Profit and loss account
39,530 
30,108 
Shareholders' funds
289,530 
280,108 
For the year ending 31 December 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 March 2024 and were signed on its behalf by
Darrell Oakley Director Company Registration No. 11178413
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Varona Properties Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Varona Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 11178413. The registered office is 167-169 Great Portland Street, 5th Floor, London, W1W 5PF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 January 2023
385,132 
At 31 December 2023
385,132 
Depreciation
At 31 December 2023
- 
Net book value
At 31 December 2023
385,132 
At 31 December 2022
385,132 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due after more than one year
Trade debtors
- 
1,300 
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Varona Properties Ltd Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
- 
3,600 
Taxes and social security
2,210 
1,316 
Loans from directors
312 
624 
Accruals
1,257 
432 
3,779 
5,972 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Amounts owed to group undertakings and other participating interests
95,000 
105,000 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £250 each
250,000 
250,000 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Darrell Oakley
Director Loan Account
(624)
(312)
(624)
(312)
(624)
(312)
(624)
(312)
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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