2023-01-012023-12-312023-12-31false06318123VIAMED PROPERTIES 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VIAMED PROPERTIES LIMITED

Registered Number
06318123
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

VIAMED PROPERTIES LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

LAMB, Derek Iain
LAMB, Georgeina Greenfield

Company Secretary

LAMB, Georgeina Greenfield

Registered Address

15 Station Road, Crosshills
Keighley
West Yorkshire
BD20 7DT

Registered Number

06318123 (England and Wales)
VIAMED PROPERTIES LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments4439,475439,475
Investment property3832,499832,499
1,271,9741,271,974
Current assets
Debtors5,69,751795
Cash at bank and on hand149,70669,595
159,45770,390
Creditors amounts falling due within one year7(659,886)(611,614)
Net current assets (liabilities)(500,429)(541,224)
Total assets less current liabilities771,545730,750
Net assets771,545730,750
Capital and reserves
Called up share capital100100
Share premium439,375439,375
Profit and loss account332,070291,275
Shareholders' funds771,545730,750
The financial statements were approved and authorised for issue by the Board of Directors on 24 April 2024, and are signed on its behalf by:
LAMB, Derek Iain
Director
Registered Company No. 06318123
VIAMED PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
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/or the rendering of services. 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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investments
Investments in subsidiaries are measured at cost less any accumulated impairment losses.
Investment property
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
2.Average number of employees

20232022
Average number of employees during the year22
3.Investment property
The 2023 valuations were made by the directors, on an open market value for existing use basis. Some of the investment properties were formally revalued on 31 December 2016 by WBW Chartered Surveyors Limited on an open market existing use basis. If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows: Historic Cost: £841,887 (2022 - £841,887)

£
Fair value at 01 January 23832,499
At 31 December 23832,499
4.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 January 23439,475439,475
At 31 December 23439,475439,475
Net book value
At 31 December 23439,475439,475
At 31 December 22439,475439,475

Notes

1Investments in group undertakings and participating interests
5.Debtors: amounts due within one year

2023

2022

££
Other debtors8,956-
Total8,956-
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.
6.Debtors: amounts due after one year

2023

2022

££
Other debtors795795
Total795795
7.Creditors: amounts due within one year

2023

2022

££
Amounts owed to related parties657,091607,091
Taxation and social security-1,729
Other creditors795795
Accrued liabilities and deferred income2,0001,999
Total659,886611,614
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.
8.Related party transactions
The company has taken the advantage of the exemption contained in Section 33 of FRS 102 "Related Party Disclosures" from disclosing transactions with entities which are part of the group, since 100% of the voting rights in the company are controlled within the group.
9.Parent-subsidiary relationships
The company, and the group headed by it, qualify as a small group as such the parent and the group are exempt from producing group accounts.