Vicom Property Consultants Limited 04117076 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is the provision of consultancy services Digita Accounts Production Advanced 6.30.9574.0 true true 04117076 2022-12-01 2023-11-30 04117076 2023-11-30 04117076 bus:OrdinaryShareClass1 2023-11-30 04117076 core:RetainedEarningsAccumulatedLosses 2023-11-30 04117076 core:ShareCapital 2023-11-30 04117076 core:CurrentFinancialInstruments 2023-11-30 04117076 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 04117076 bus:SmallEntities 2022-12-01 2023-11-30 04117076 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 04117076 bus:FullAccounts 2022-12-01 2023-11-30 04117076 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 04117076 bus:RegisteredOffice 2022-12-01 2023-11-30 04117076 bus:CompanySecretaryDirector2 2022-12-01 2023-11-30 04117076 bus:Director1 2022-12-01 2023-11-30 04117076 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 04117076 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 04117076 core:UKTax 2022-12-01 2023-11-30 04117076 countries:EnglandWales 2022-12-01 2023-11-30 04117076 2021-12-01 2022-11-30 04117076 2022-11-30 04117076 bus:OrdinaryShareClass1 2022-11-30 04117076 core:RetainedEarningsAccumulatedLosses 2022-11-30 04117076 core:ShareCapital 2022-11-30 04117076 core:CurrentFinancialInstruments 2022-11-30 04117076 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 04117076 core:UKTax 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04117076

Vicom Property Consultants Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Vicom Property Consultants Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 7

 

Vicom Property Consultants Limited

Company Information

Directors

P R Harwood

S J Harwood

Company secretary

S J Harwood

Registered office

1-2 Harts Lane
South Godstone
Surrey
RH9 8LX

Accountants

Shaw Gibbs Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

Vicom Property Consultants Limited

(Registration number: 04117076)
Statement of Financial Position as at 30 November 2023

Note

2023
£

2022
£

Current assets

 

Receivables

5

30,000

30,000

Cash at bank and in hand

 

65,077

33,109

 

95,077

63,109

Payables: Amounts falling due within one year

7

(22,948)

(23,884)

Net assets

 

72,129

39,225

Equity

 

Called up share capital

8

2

2

Retained earnings

72,127

39,223

Shareholders' funds

 

72,129

39,225

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 

.........................................

P R Harwood
Director

 

Vicom Property Consultants Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023

1

General information

Vicom Property Consultants Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis in preparing the annual financial statements.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Taxation

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and at bank and are subject to an insignificant risk of change in value.

 

Vicom Property Consultants Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Receivables

Trade and other receivables that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Payables

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other payables are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

 

Vicom Property Consultants Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Taxation

Tax charged/(credited) in the income statement

2023
£

2022
£

Current taxation

UK corporation tax

12,844

6,182

The tax on profit before tax for the year is lower than the standard rate of corporation tax in the UK (2022 - higher than the standard rate of corporation tax in the UK) of 25% (2022 - 19%).

The differences are reconciled below:

2023
£

2022
£

Profit before tax

63,748

32,436

Corporation tax at standard rate

15,937

6,163

Decrease from effect of different UK tax rates on some earnings

(3,131)

-

Effect of expense not deductible in determining taxable profit (tax loss)

38

19

Total tax charge

12,844

6,182

 

Vicom Property Consultants Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023 (continued)

5

Receivables

2023
£

2022
£

Other receivables

30,000

30,000

6

Cash and cash equivalents

2023
£

2022
£

Cash at bank

65,077

33,109

7

Payables

Payables: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Directors' loans

908

57

Taxation and social security

 

12,896

14,743

Accruals and deferred income

 

5,253

5,193

Other creditors

 

3,891

3,891

 

22,948

23,884

8

Share capital and reserves

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

The company has one class of share capital which carries no right to fixed income.

Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

 

Vicom Property Consultants Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2023 (continued)

9

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £9,000.00 (2022 - £12,250.00) per ordinary share

 

18,000

 

24,500

         

10

Related party transactions

The company was under the control of Mr P R and Mrs S J Harwood throughout the current and previous year. They are the directors and shareholders of the company.

The company also owed £3,891 (2022: £3,891) to Centro Commercial Ltd, a company of which Mr P R Harwood is also a director.

Business strategy and consultancy services of £65,000 (2022: £40,000) were provided to Centro Plc during the year, a company in which Mr P R Harwood is a director and has an interest in share capital. Included within debtors is £30,000 (2022: £30,000) due from Centro Plc at 30 November 2023. This amount is unsecured, interest free and repayable on demand.