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REGISTERED NUMBER: 12270975 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2023

for

VIP PROP HIRE LIMITED

VIP PROP HIRE LIMITED (REGISTERED NUMBER: 12270975)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VIP PROP HIRE LIMITED

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Mrs K M Murray
Miss L Hall





REGISTERED OFFICE: 8 Heathwood Road
Cardiff
CF14 4JP





REGISTERED NUMBER: 12270975 (England and Wales)






VIP PROP HIRE LIMITED (REGISTERED NUMBER: 12270975)

Balance Sheet
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 24,000 24,000
Tangible assets 6 9,039 9,039
33,039 33,039

CURRENT ASSETS
Cash at bank and in hand 1,203 1,203

CREDITORS
Amounts falling due within one year 7 (17,696 ) (17,576 )
NET CURRENT LIABILITIES (16,493 ) (16,373 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,546

16,666

CREDITORS
Amounts falling due after more than
one year

8

(12,643

)

(12,118

)
NET ASSETS 3,903 4,548

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 3,902 4,547
3,903 4,548

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

VIP PROP HIRE LIMITED (REGISTERED NUMBER: 12270975)

Balance Sheet - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 May 2024 and were signed on its behalf by:




Mrs K M Murray - Director



Miss L Hall - Director


VIP PROP HIRE LIMITED (REGISTERED NUMBER: 12270975)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

VIP Prop Hire Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The financial statements are prepared under the going concern basis. The directors believe this is appropriate as they believe that the company has the necessary resources at its disposal to meet its liabilities as they fall due.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of 12 months from the date of approval of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


VIP PROP HIRE LIMITED (REGISTERED NUMBER: 12270975)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 5 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 24,000
NET BOOK VALUE
At 31 October 2023 24,000
At 31 October 2022 24,000

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 14,022
DEPRECIATION
At 1 November 2022
and 31 October 2023 4,983
NET BOOK VALUE
At 31 October 2023 9,039
At 31 October 2022 9,039

VIP PROP HIRE LIMITED (REGISTERED NUMBER: 12270975)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,500 2,500
Hire purchase contracts 1,737 1,737
Taxation and social security 1,453 1,453
Other creditors 12,006 11,886
17,696 17,576

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 9,196 8,911
Hire purchase contracts 3,447 3,207
12,643 12,118

9. BANK LOAN

The company has taken advantage of the UK Governments Bounce Back Loan Scheme and was advanced an amount of £12,500. Repayments of this loan started in July 2021 for 60 months. This scheme is underwritten by the UK Government.

10. ULTIMATE CONTROLLING PARTY

During the year under review the Ultimate Controlling Parties were Mrs K. Murray and Miss L. Hall.