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REGISTERED NUMBER: 10997502 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Verconder Ltd

Verconder Ltd (Registered number: 10997502)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Verconder Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: D Newman





REGISTERED OFFICE: Carlton House
High Street
Higham Ferrers
Northamptonshire
NN10 8BW





REGISTERED NUMBER: 10997502 (England and Wales)





ACCOUNTANTS: Willsons
Chartered Accountants
Carlton House
High Street
Higham Ferrers
Northamptonshire
NN10 8BW

Verconder Ltd (Registered number: 10997502)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 418,000 425,000
Investments 5 939,314 939,314
1,357,314 1,364,314

CURRENT ASSETS
Cash at bank 235 133

CREDITORS
Amounts falling due within one year 6 37,127 29,629
NET CURRENT LIABILITIES (36,892 ) (29,496 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,320,422

1,334,818

CREDITORS
Amounts falling due after more than one year 7 1,277,252 1,307,725
NET ASSETS 43,170 27,093

CAPITAL AND RESERVES
Called up share capital 50,001 50,001
Retained earnings (6,831 ) (22,908 )
43,170 27,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Verconder Ltd (Registered number: 10997502)

Balance Sheet - continued
30 November 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 August 2024 and were signed by:





D Newman - Director


Verconder Ltd (Registered number: 10997502)

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

1. STATUTORY INFORMATION

Verconder Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Verconder Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost, less residual value, of each asset over its estimated useful life. Cost includes costs directly attributable to making the asset capable of operating as intended.

Freehold property - 2% straight line
Land - not depreciated.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Turnover and other income
Rental income is measured at the rate set by the holding company when received.

Debtors and creditors receivable / payable
Debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Verconder Ltd (Registered number: 10997502)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 December 2022
and 30 November 2023 450,000
DEPRECIATION
At 1 December 2022 25,000
Charge for year 7,000
At 30 November 2023 32,000
NET BOOK VALUE
At 30 November 2023 418,000
At 30 November 2022 425,000

Included in cost of land and buildings is freehold land of £ 100,000 (2022 - £ 100,000 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2022
and 30 November 2023 939,314
NET BOOK VALUE
At 30 November 2023 939,314
At 30 November 2022 939,314

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 30,441 29,139
Corporation Tax 6,686 490
37,127 29,629

Verconder Ltd (Registered number: 10997502)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans - 2-5 years 150,832 148,265
Bank loans over 5 years 270,115 303,455
Amounts owed to group undertakings 856,305 856,005
1,277,252 1,307,725

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 270,115 303,455

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 451,388 480,859

The loans are secured by fixed and floating charges.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.