Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseNo description of principal activity22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14186765 2023-04-01 2024-03-31 14186765 2022-06-21 2023-03-31 14186765 2024-03-31 14186765 2023-03-31 14186765 c:Director2 2023-04-01 2024-03-31 14186765 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 14186765 d:FreeholdInvestmentProperty 2024-03-31 14186765 d:FreeholdInvestmentProperty 2023-03-31 14186765 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 14186765 d:CurrentFinancialInstruments 2024-03-31 14186765 d:CurrentFinancialInstruments 2023-03-31 14186765 d:Non-currentFinancialInstruments 2024-03-31 14186765 d:Non-currentFinancialInstruments 2023-03-31 14186765 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14186765 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 14186765 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 14186765 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 14186765 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 14186765 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 14186765 d:ShareCapital 2024-03-31 14186765 d:ShareCapital 2023-03-31 14186765 d:RetainedEarningsAccumulatedLosses 2024-03-31 14186765 d:RetainedEarningsAccumulatedLosses 2023-03-31 14186765 c:FRS102 2023-04-01 2024-03-31 14186765 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 14186765 c:FullAccounts 2023-04-01 2024-03-31 14186765 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14186765 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 14186765









VIRA PROPERTIES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
VIRA PROPERTIES LTD
REGISTERED NUMBER: 14186765

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
  
2,683,976
1,589,017

  
2,683,976
1,589,017

Current assets
  

Debtors: amounts falling due within one year
 5 
25,667
17,297

Cash at bank and in hand
 6 
613,736
300,213

  
639,403
317,510

Creditors: amounts falling due within one year
 7 
(2,641,737)
(1,197,164)

Net current liabilities
  
 
 
(2,002,334)
 
 
(879,654)

Total assets less current liabilities
  
681,642
709,363

Creditors: amounts falling due after more than one year
 8 
(669,347)
(705,924)

  

Net assets
  
12,295
3,439


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
12,195
3,339

  
12,295
3,439


Page 1

 
VIRA PROPERTIES LTD
REGISTERED NUMBER: 14186765
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 August 2024.




................................................
Anjum Rajan
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
VIRA PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Vira Properties Limited is a private company, limited by shares and registered in England and Wales. The address of the registered office is Unit 6 Masters Court, Lyon Road, Harrow, London, United Kingdom, HA1 2BT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, 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 profit or loss.

Page 3

 
VIRA PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the period was 2 (2023 - 2).

Page 4

 
VIRA PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,589,017


Additions at cost
1,108,548


Surplus on revaluation
(13,589)



At 31 March 2024
2,683,976

The 2024 valuations were made by Michael Charles Chartered Surveyors, on an open market value for existing use basis.





5.


Debtors

2024
2023
£
£


Trade debtors
15,600
15,600

Other debtors
9,188
1,697

Prepayments and accrued income
879
-

25,667
17,297



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
613,736
300,213

613,736
300,213


Page 5

 
VIRA PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
77,727
77,727

Trade creditors
-
17

Other taxation and social security
5,106
4,320

Other creditors
2,544,254
1,100,100

Accruals and deferred income
14,650
15,000

2,641,737
1,197,164


The following liabilities were secured:

2024
2023
£
£



Bank loan
77,727
77,727

77,727
77,727

Details of security provided:

On the 21st October 2022, a charge against Unit 6, Masters Court 1, Lyon Square, Lyon Road, Harrow, HA1 2BT, was registered at Companies House in favour of National Westminster Bank Plc.

Page 6

 
VIRA PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
669,347
705,924

669,347
705,924


The following liabilities were secured:

2024
2023
£
£



Bank loans
628,196
689,886

628,196
689,886

Details of security provided:

On the 21st October 2022, a charge against Unit 6, Masters Court 1, Lyon Square, Lyon Road, Harrow, HA1 2BT, was registered at Companies House in favour of National Westminster Bank Plc.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
77,727
77,727


77,727
77,727

Amounts falling due 1-2 years

Bank loans
669,347
705,924


669,347
705,924



747,074
783,651


 
Page 7