Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31No description of principal activitytrue2022-09-01false22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04805618 2022-09-01 2023-08-31 04805618 2021-09-01 2022-08-31 04805618 2023-08-31 04805618 2022-08-31 04805618 c:Director1 2022-09-01 2023-08-31 04805618 d:MotorVehicles 2022-09-01 2023-08-31 04805618 d:MotorVehicles 2023-08-31 04805618 d:MotorVehicles 2022-08-31 04805618 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 04805618 d:FurnitureFittings 2022-09-01 2023-08-31 04805618 d:FurnitureFittings 2023-08-31 04805618 d:FurnitureFittings 2022-08-31 04805618 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 04805618 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 04805618 d:FreeholdInvestmentProperty 2023-08-31 04805618 d:FreeholdInvestmentProperty 2022-08-31 04805618 d:CurrentFinancialInstruments 2023-08-31 04805618 d:CurrentFinancialInstruments 2022-08-31 04805618 d:Non-currentFinancialInstruments 2023-08-31 04805618 d:Non-currentFinancialInstruments 2022-08-31 04805618 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 04805618 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 04805618 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 04805618 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 04805618 d:ShareCapital 2023-08-31 04805618 d:ShareCapital 2022-08-31 04805618 d:RetainedEarningsAccumulatedLosses 2022-09-01 2023-08-31 04805618 d:RetainedEarningsAccumulatedLosses 2023-08-31 04805618 d:RetainedEarningsAccumulatedLosses 2022-08-31 04805618 c:FRS102 2022-09-01 2023-08-31 04805618 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 04805618 c:FullAccounts 2022-09-01 2023-08-31 04805618 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 04805618 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 04805618 d:AcceleratedTaxDepreciationDeferredTax 2022-08-31 04805618 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 04805618









VIHART LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

 
VIHART LIMITED
REGISTERED NUMBER: 04805618

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
79
105

Investment property
 6 
350,000
350,000

  
350,079
350,105

Current assets
  

Debtors: amounts falling due within one year
 7 
10,392
15,361

Cash at bank and in hand
  
-
2

  
10,392
15,363

Creditors: amounts falling due within one year
 8 
(49,439)
(48,981)

Net current liabilities
  
 
 
(39,047)
 
 
(33,618)

Total assets less current liabilities
  
311,032
316,487

Creditors: amounts falling due after more than one year
 9 
(213,255)
(213,291)

Provisions for liabilities
  

Deferred tax
 10 
-
(8,211)

  
 
 
-
 
 
(8,211)

Net assets
  
97,777
94,985


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
 11 
96,777
93,985

  
97,777
94,985


Page 1

 
VIHART LIMITED
REGISTERED NUMBER: 04805618
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

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 year 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 30 August 2024.




K Vian
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
VIHART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Vihart Limited is a private company limited by shares and registered in England and Wales. The address of its registered office is 45 Kingswood Road, Bromley, Kent, BR2 0NL.

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.
Investment property are leased to tenants under operating leases. The rental income receivable under these leases is recognised through profit and loss on a straight line basis over the term of the lease. Any rent-free period is spread over the period of the lease. Since the risks and rewards of ownership have not been transferred to the lessee, the assets held under these leases continue to be recognised in the company's financial statements.

 
2.3

Borrowing costs

All borrowing costs are recognised in the statement of income and retained earnings in the year in
which they are incurred.

Page 3

 
VIHART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
VIHART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and 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 the statement of income and retained earnings.

 
2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Tangible assets
Tangible assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending upon a number of factors. In re-assessing the assets' lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.
Revaluation of investment properties
The company carries its investment property at fair value, with changes in fair value being recognised through profit and loss. The valuation technique was based on comparable market data of property with similar characteristics of the investment property held by the company.

Page 5

 
VIHART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 September 2022
1,000
1,666
2,666



At 31 August 2023

1,000
1,666
2,666



Depreciation


At 1 September 2022
993
1,568
2,561


Charge for the year on owned assets
2
24
26



At 31 August 2023

995
1,592
2,587



Net book value



At 31 August 2023
5
74
79



At 31 August 2022
7
98
105

Page 6

 
VIHART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 September 2022
350,000



At 31 August 2023
350,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.



At 31 August 2023





7.


Debtors

2023
2022
£
£


Other debtors
10,392
15,361

10,392
15,361



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
8
-

Bank loans
1,000
1,000

Trade creditors
2,460
-

Corporation tax
148
539

Other creditors
43,243
43,042

Accruals and deferred income
2,580
4,400

49,439
48,981


Page 7

 
VIHART LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
213,255
213,291

213,255
213,291


Bank loans are secured by way of a legal charge on the company's freehold property.


10.


Deferred taxation




2023


£






At beginning of year
(8,211)


Charged to profit or loss
8,211



At end of year
-

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
-
(8,211)

-
(8,211)


11.


Reserves

Profit and loss account

Included in reserves carried forward are unrealised gains of £130,007 (2022: £130,007) relating to the revaluation of investment property. Deferred tax provided in respect of this gain amounted to £nil (2022: £8,211). Accordingly there are non-distributable reserves of £130,007 (2022: £121,796) included in retained earnings carried forward.


12.


Related party transactions

At the reporting date, the company owed £593 (2022: £392) to K Vian and P A Vian, directors of the company. The amount was provided interest free and is repayable on demand.

 
Page 8