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V1 PROPERTIES LTD

Registered Number
SC541758
(Scotland)

Unaudited Financial Statements for the Year ended
31 August 2023

V1 PROPERTIES LTD
Company Information
for the year from 1 September 2022 to 31 August 2023

Directors

DICK, Kenneth
WILLIES, Martin

Company Secretary

SAWERS, Marion

Registered Address

48 West George Street
Suite 2/3 2nd Floor
Glasgow
G2 1BP

Registered Number

SC541758 (Scotland)
V1 PROPERTIES LTD
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3276,604277,226
276,604277,226
Current assets
Debtors2,0701,090
Cash at bank and on hand2,8334,163
4,9035,253
Creditors amounts falling due within one year(256,098)(255,425)
Net current assets (liabilities)(251,195)(250,172)
Total assets less current liabilities25,40927,054
Net assets25,40927,054
Capital and reserves
Called up share capital22
Profit and loss account25,40727,052
Shareholders' funds25,40927,054
The financial statements were approved and authorised for issue by the Board of Directors on 28 August 2024, and are signed on its behalf by:
DICK, Kenneth
Director
Registered Company No. SC541758
V1 PROPERTIES LTD
Notes to the Financial Statements
for the year ended 31 August 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 22278,333
At 31 August 23278,333
Depreciation and impairment
At 01 September 221,108
Charge for year621
At 31 August 231,729
Net book value
At 31 August 23276,604
At 31 August 22277,226