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REGISTERED NUMBER: 01075699 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Verandah Limited

Verandah Limited (Registered number: 01075699)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

Verandah Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Griggs
Mrs V Griggs





SECRETARY: Mrs V Griggs





REGISTERED OFFICE: 1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL





REGISTERED NUMBER: 01075699 (England and Wales)





ACCOUNTANTS: Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL

Verandah Limited (Registered number: 01075699)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 240,000 240,000

CURRENT ASSETS
Debtors 2,447 -
Cash at bank 2,934 2,940
5,381 2,940
CREDITORS
Amounts falling due within one year 53,922 22,408
NET CURRENT LIABILITIES (48,541 ) (19,468 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,459

220,532

PROVISIONS FOR LIABILITIES 10,952 10,952
NET ASSETS 180,507 209,580

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve 6 123,577 123,577
Retained earnings 46,930 76,003
SHAREHOLDERS' FUNDS 180,507 209,580

Verandah Limited (Registered number: 01075699)

Abridged Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 15 July 2024 and were signed on its behalf by:





A Griggs - Director


Verandah Limited (Registered number: 01075699)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Verandah 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents sale of properties and rental income.

Investment property
In accordance with Financial Reporting Standard 102 Section 1a, investment property is included at fair value and gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided, which is a departure from the Companies Act 2006, but is required to provide a true and fair view. The directors undertake an annual review of valuations and seek independent professional valuations once every five years.

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.

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.

Rental income
Rental income arising from investment properties is accounted for on a straight line basis over the lease term.

Investments
Listed investments are included at fair value. Investments in unlisted shares are included at historical cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - NIL ) .

Verandah Limited (Registered number: 01075699)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 240,000
NET BOOK VALUE
At 31 March 2024 240,000
At 31 March 2023 240,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2007 254,530
Valuation in 2018 40,000
Valuation in 2023 (160,000 )
Cost 105,470
240,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 105,470 105,470

Investment property was valued on an open market basis on 31 March 2023 by A R Griggs, the director .

5. SECURED DEBTS

Aldermore hold a first legal charge over the Freehold Property known as Flat 1 - 4, 13 Droitwich Road, Worcester WR3 7LJ.

6. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 123,577

7. CONTINGENT LIABILITIES

There were no material contingent liabilities at the year end.

8. POST BALANCE SHEET EVENTS

There were no material post balance sheet events.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Verandah Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Verandah Limited for the year ended 31 March 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Verandah Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Verandah Limited and state those matters that we have agreed to state to the Board of Directors of Verandah Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Verandah Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Verandah Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Verandah Limited. You consider that Verandah Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Verandah Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL


15 July 2024