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Registration number: 10044073

VMJF Land & New Homes Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

VMJF Land & New Homes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

VMJF Land & New Homes Limited

Company Information

Directors

M Lanzalaco

G B Ferrucci

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail and Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

VMJF Land & New Homes Limited

(Registration number: 10044073)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

83,594

102,213

Current assets

 

Debtors

5

753,238

653,079

Cash at bank and in hand

 

292,476

378,630

 

1,045,714

1,031,709

Creditors: Amounts falling due within one year

6

(605,546)

(588,820)

Net current assets

 

440,168

442,889

Net assets

 

523,762

545,102

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

523,662

545,002

Shareholders' funds

 

523,762

545,102

For the financial 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.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

VMJF Land & New Homes Limited

(Registration number: 10044073)
Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:



 

.........................................

M Lanzalaco

Director

 

VMJF Land & New Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Maria House
35 Millers Road
Brighton
BN1 5NP

2

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 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 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

VMJF Land & New Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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

Fixtures & fittings

25% Reducing Balance

Computer equipment

33% Reducing Balance

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2022 - 15).

 

VMJF Land & New Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

25,000

144,327

169,327

Additions

-

2,200

2,200

At 31 December 2023

25,000

146,527

171,527

Depreciation

At 1 January 2023

-

67,114

67,114

Charge for the year

-

20,819

20,819

At 31 December 2023

-

87,933

87,933

Carrying amount

At 31 December 2023

25,000

58,594

83,594

At 31 December 2022

25,000

77,213

102,213

Included within the net book value of land and buildings above is £25,000 (2022 - £25,000) in respect of long leasehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Trade debtors

398,698

524,255

Prepayments

4,126

2,564

Other debtors

350,414

126,260

 

753,238

653,079

 

VMJF Land & New Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

85,221

66,401

Amounts owed to group undertakings and undertakings in which the company has a participating interest

5,350

5,350

Taxation and social security

 

202,488

191,206

Accruals and deferred income

 

308,727

316,064

Other creditors

 

3,760

9,799

 

605,546

588,820

7

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £1,260.00 (2022 - £Nil) per ordinary share

 

126,000

 

-

         

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares A of £1 each

51

51

51

51

Ordinary Shares B of £1 each

49

49

49

49

 

100

100

100

100