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REGISTERED NUMBER: 13319426 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

VIDAN PROPERTIES LTD

VIDAN PROPERTIES LTD (REGISTERED NUMBER: 13319426)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VIDAN PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: P Brand





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 13319426 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

VIDAN PROPERTIES LTD (REGISTERED NUMBER: 13319426)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 575,000 552,003

CURRENT ASSETS
Debtors 5 168 -
Cash at bank and in hand 24,807 19,745
24,975 19,745
CREDITORS
Amounts falling due within one year 6 531,619 546,277
NET CURRENT LIABILITIES (506,644 ) (526,532 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,356

25,471

PROVISIONS FOR LIABILITIES 4,369 -
NET ASSETS 63,987 25,471

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 7 18,628 -
Retained earnings 7 45,259 25,371
63,987 25,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

VIDAN PROPERTIES LTD (REGISTERED NUMBER: 13319426)

BALANCE SHEET - continued
30 APRIL 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:





P Brand - Director


VIDAN PROPERTIES LTD (REGISTERED NUMBER: 13319426)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Vidan Properties 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income receivable during the period.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

In accordance with the provisions of FRS 102 freehold investment buildings are not depreciated.

This is in contravention to the Companies Act 2006 which requires all tangible fixed assets to be depreciated. The directors are of the opinion that this departure from the Companies Act 2006 is needed to present a true and fair view.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

VIDAN PROPERTIES LTD (REGISTERED NUMBER: 13319426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 552,003
Revaluations 22,997
At 30 April 2024 575,000
NET BOOK VALUE
At 30 April 2024 575,000
At 30 April 2023 552,003

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 22,997
Cost 552,003
575,000

The investment properties have been valued on an open market basis on 30th April 2024 by the director.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 168 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 4,665 4,341
Other creditors 526,954 541,936
531,619 546,277

VIDAN PROPERTIES LTD (REGISTERED NUMBER: 13319426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 May 2023 25,371 - 25,371
Profit for the year 38,516 38,516
Transfer (18,628 ) 18,628 -
At 30 April 2024 45,259 18,628 63,887

The other reserves represents non distributable gains made by the company on the revaluation of investment properties.

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company had received loans from the director of £nil (2023 - £15,000) which are included in creditors falling due within one year. This balance is interest free and repayable on demand.

Coverworld Construction Ltd

A company under common control.

Non interest bearing loan on which no terms of repayment have been agreed. The amount due to Coverworld Construction Ltd at the balance sheet date was £525,000 (2023 - £525,000).