Company registration number 11390417 (England and Wales)
VAN LEWIS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
VAN LEWIS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
VAN LEWIS LIMITED (REGISTERED NUMBER: 11390417)
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
1,166,901
1,149,655
Current assets
Debtors
5
103,078
65,955
Cash at bank and in hand
13,963
6,548
117,041
72,503
Creditors: amounts falling due within one year
6
(476,609)
(436,175)
Net current liabilities
(359,568)
(363,672)
Total assets less current liabilities
807,333
785,983
Creditors: amounts falling due after more than one year
7
(748,865)
(748,787)
Provisions for liabilities
(12,170)
(8,129)
Net assets
46,298
29,067
Capital and reserves
Called up share capital
2
2
Non-distributable profits reserve
8
69,903
56,700
Distributable profit and loss reserves
(23,607)
(27,635)
Total equity
46,298
29,067

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

VAN LEWIS LIMITED (REGISTERED NUMBER: 11390417)
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 9 July 2024
Mr J  Lewis
Director
VAN LEWIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Van Lewis Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, United Kingdom, ME19 6JU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Rental income is credited to the profit and loss on a straight line basis over the lease term

 

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Investment property is not subject to depreciation.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

VAN LEWIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Investment property
2024
£
Fair value
At 1 April 2023
1,149,656
Revaluations
17,245
At 31 March 2024
1,166,901

Investment property comprises properties at fair value of £1,166,901. The fair value of the investment property has been arrived at by the director of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties at the directors' best estimate.

 

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
103,078
65,955
VAN LEWIS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
476,609
436,175
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
748,865
748,787

The loan is secured by way of a charge against the investment property.

Included in other creditors are bank loans secured by way of a fixed charge and negative pledge against the properties.

 

 

8
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
56,700
40,048
Non distributable profits in the year
13,203
16,652
At the end of the year
69,903
56,700
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