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REGISTERED NUMBER: 09572973 (England and Wales)














Veancraft Properties Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2023






Veancraft Properties Ltd (Registered number: 09572973)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Veancraft Properties Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTORS: P A W Jeffries
Mrs S J Jeffries





REGISTERED OFFICE: 10 Victoria Road South
Southsea
Hampshire
PO5 2DA





REGISTERED NUMBER: 09572973 (England and Wales)





ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA

Veancraft Properties Ltd (Registered number: 09572973)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,076 1,519
Investment property 5 2,191,000 2,191,000
2,192,076 2,192,519

CURRENT ASSETS
Debtors 6 11,995 6,864
Cash at bank 47,129 56,168
59,124 63,032
CREDITORS
Amounts falling due within one year 7 77,528 95,165
NET CURRENT LIABILITIES (18,404 ) (32,133 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,173,672

2,160,386

CREDITORS
Amounts falling due after more than one year 8 1,498,067 1,551,654
NET ASSETS 675,605 608,732

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 339,497 339,497
Retained earnings 336,008 269,135
SHAREHOLDERS' FUNDS 675,605 608,732

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

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

The directors acknowledge their 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.

Veancraft Properties Ltd (Registered number: 09572973)

Balance Sheet - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2024 and were signed on its behalf by:





P A W Jeffries - Director


Veancraft Properties Ltd (Registered number: 09572973)

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

1. STATUTORY INFORMATION

Veancraft Properties 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Veancraft Properties Ltd (Registered number: 09572973)

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 August 2022
and 31 July 2023 1,772
DEPRECIATION
At 1 August 2022 253
Charge for year 443
At 31 July 2023 696
NET BOOK VALUE
At 31 July 2023 1,076
At 31 July 2022 1,519

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 2,191,000
NET BOOK VALUE
At 31 July 2023 2,191,000
At 31 July 2022 2,191,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2022 339,497

** TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF
INVESTMENT PROPERTY

'COST' ACCOUNT TOTAL
Cost/valuation b/f 2,191,000
2,191,000

CLIENT SCREEN TOTAL = -


Veancraft Properties Ltd (Registered number: 09572973)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,803 (174 )
Due from related company 5,048 5,048
Prepayments 4,144 1,990
11,995 6,864

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Payments on account 25,493 49,903
Trade creditors 10,423 7,372
Taxation 16,845 11,044
Social security and other taxes - 5
Other creditors 364 2,123
Accruals and deferred income 21,303 22,218
Accrued expenses 3,100 2,500
77,528 95,165

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans more 5 yrs non-inst 1,293,951 1,293,951
Other loans more 5yrs non-inst 204,116 257,703
1,498,067 1,551,654

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,293,951 1,293,951
Other loans more 5yrs non-inst 204,116 257,703
1,498,067 1,551,654

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

Veancraft Properties Ltd (Registered number: 09572973)

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

10. RESERVES
Revaluation
reserve
£   
At 1 August 2022
and 31 July 2023 339,497