1 December 2022 false No description of principal activity Taxfiler 2024.5 08285875business:PrivateLimitedCompanyLtd2022-12-012023-11-30 082858752022-11-30 082858752022-12-012023-11-30 08285875business:AuditExempt-NoAccountantsReport2022-12-012023-11-30 08285875business:FilletedAccounts2022-12-012023-11-30 082858752023-11-30 08285875business:Director12022-12-012023-11-30 08285875business:RegisteredOffice2022-12-012023-11-30 082858752022-11-30 08285875core:WithinOneYear2023-11-30 08285875core:WithinOneYear2022-11-30 08285875core:AfterOneYear2023-11-30 08285875core:AfterOneYear2022-11-30 08285875core:ShareCapitalcore:PreviouslyStatedAmount2023-11-30 08285875core:ShareCapitalcore:PreviouslyStatedAmount2022-11-30 08285875core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-11-30 08285875core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-11-30 08285875core:PreviouslyStatedAmount2023-11-30 08285875core:PreviouslyStatedAmount2022-11-30 08285875business:SmallEntities2022-12-012023-11-30 08285875countries:EnglandWales2022-12-012023-11-30 08285875core:FurnitureFittings2022-11-30 08285875core:FurnitureFittings2022-12-012023-11-30 08285875core:FurnitureFittings2023-11-30 08285875core:WithinOneYear2022-12-012023-11-30 08285875core:AfterOneYear2022-12-012023-11-30 082858752021-12-012022-11-30 iso4217:GBP xbrli:pure
Company Registration No. 08285875 (England and Wales)
Vatry Estates Limited Unaudited accounts for the year ended 30 November 2023
Vatry Estates Limited Unaudited accounts Contents
Page
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Vatry Estates Limited Company Information for the year ended 30 November 2023
Director
Mr Y Stern
Company Number
08285875 (England and Wales)
Registered Office
18 Lynmouth Road London N16 6XL
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Vatry Estates Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
604 
- 
Investment property
3,305,001 
3,305,001 
3,305,605 
3,305,001 
Current assets
Debtors
803,509 
671,767 
Cash at bank and in hand
11,445 
5,768 
814,954 
677,535 
Creditors: amounts falling due within one year
(248,782)
(262,578)
Net current assets
566,172 
414,957 
Total assets less current liabilities
3,871,777 
3,719,958 
Creditors: amounts falling due after more than one year
(2,654,375)
(2,501,566)
Provisions for liabilities
Deferred tax
(150,000)
(150,000)
Net assets
1,067,402 
1,068,392 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
1,067,401 
1,068,391 
Shareholders' funds
1,067,402 
1,068,392 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 August 2024 and were signed on its behalf by
Mr Y Stern Director Company Registration No. 08285875
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Vatry Estates Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Vatry Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 08285875. The registered office is 18 Lynmouth Road, London, N16 6XL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The director does not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents rents and charges receivable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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Vatry Estates Limited Notes to the Accounts for the year ended 30 November 2023
Investment Property
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition • Investment properties are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise; and • No depreciation is provided in respect of investment properties applying the fair value model. Investment property fair value is determined by the director based on their understanding of property market conditions and the specific properties concerned, using a sales valuation approach, derived from recent comparable transactions on the market, adjusted by applying discounts to reflect status of occupation and condition, whilst having regard to professional valuations where available.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
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Vatry Estates Limited Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 December 2022
- 
Additions
755 
At 30 November 2023
755 
Depreciation
Charge for the year
151 
At 30 November 2023
151 
Net book value
At 30 November 2023
604 
5
Investment property
2023 
£ 
Fair value at 1 December 2022
3,305,001 
At 30 November 2023
3,305,001 
The historical cost of the investment properties is £2,507,462 (2022: £2,507,462).
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
18,760 
19,799 
Other debtors
784,749 
651,968 
803,509 
671,767 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
15,798 
15,230 
Trade creditors
94,316 
92,000 
Taxes and social security
10,742 
14,691 
Other creditors
127,926 
140,657 
248,782 
262,578 
The bank loans are secured against the investment properties of the company. Trade creditors include £92,000 due to Fountain Heights Limited and other creditors include £75,145 (2022: £129,593) due to companies of which Mr Y Stern is a director.
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
2,654,375 
2,501,566 
The bank loans are secured against the investment properties of the company.
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Vatry Estates Limited Notes to the Accounts for the year ended 30 November 2023
9
Transactions with related parties
Included in other debtors are amounts of £740,359 (2022: £620,651) due from companies of which Mr Y Stern is a director.
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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