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Registration number: 12103969

VP Property Services Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 July 2023

 

VP Property Services Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 5

 

VP Property Services Limited

Company Information

Directors

J Vera Palram

N C Vera Palram

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

VP Property Services Limited

(Registration number: 12103969)
Abridged Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

-

433

Investment property

3,126,000

2,690,000

 

3,126,000

2,690,433

Current assets

 

Debtors

6,325

11,160

Cash at bank and in hand

 

8,723

9,012

 

15,048

20,172

Creditors: Amounts falling due within one year

(1,829,174)

(1,820,245)

Net current liabilities

 

(1,814,126)

(1,800,073)

Net assets

 

1,311,874

890,360

Capital and reserves

 

Called up share capital

103

103

Share premium reserve

649,975

649,975

Other reserves

813,450

344,750

Profit and loss account

(151,654)

(104,468)

Shareholders' funds

 

1,311,874

890,360

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 10 April 2024 and signed on its behalf by:
 

 

VP Property Services Limited

(Registration number: 12103969)
Abridged Balance Sheet as at 31 July 2023

.........................................
J Vera Palram
Director

   
     
 

VP Property Services Limited

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

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33.3% straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

VP Property Services Limited

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

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

3

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 August 2022

2,696

2,696

At 31 July 2023

2,696

2,696

Depreciation

At 1 August 2022

2,263

2,263

Charge for the year

433

433

At 31 July 2023

2,696

2,696

Carrying amount

At 31 July 2023

-

-

At 31 July 2022

433

433

Investment properties

2023
£

At 1 August

2,690,000

Additions

(32,700)

Fair value adjustments

468,700

At 31 July

3,126,000

4

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

103

103

103

103