Company Registration No. 13718020 (England and Wales)
VV COMMERCIAL PROPERTIES LTD
Unaudited accounts
for the year ended 31 December 2023
VV COMMERCIAL PROPERTIES LTD
Statement of financial position
as at 31 December 2023
Called up share capital not paid
97
97
Tangible assets
1,325,990
1,327,710
Cash at bank and in hand
14,692
58,700
Creditors: amounts falling due within one year
(109,434)
(90,407)
Net current assets
28,335
32,733
Total assets less current liabilities
1,354,422
1,360,540
Creditors: amounts falling due after more than one year
(1,342,341)
(1,350,798)
Provisions for liabilities
Called up share capital
97
97
Profit and loss account
11,215
8,446
Shareholders' funds
11,312
8,543
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 August 2024 and were signed on its behalf by
Mayad Joseph ALLOS
Director
Company Registration No. 13718020
VV COMMERCIAL PROPERTIES LTD
Notes to the Accounts
for the year ended 31 December 2023
VV COMMERCIAL PROPERTIES LTD is a private company, limited by shares, registered in England and Wales, registration number 13718020. The registered office is 559a Kings Road, London, SW6 2EB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5 years straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 January 2023
1,322,913
5,430
1,328,343
At 31 December 2023
1,322,913
5,430
1,328,343
At 1 January 2023
-
633
633
Charge for the year
-
1,720
1,720
At 31 December 2023
-
2,353
2,353
At 31 December 2023
1,322,913
3,077
1,325,990
At 31 December 2022
1,322,913
4,797
1,327,710
VV COMMERCIAL PROPERTIES LTD
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
87,718
64,184
Accrued income and prepayments
359
256
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
4,096
Trade creditors
15,658
14,086
Taxes and social security
-
1,653
Deferred income
89,425
66,055
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
1,092,341
1,100,798
Trade creditors
250,000
250,000
8
Deferred taxation
2023
2022
Accelerated capital allowances
769
1,199
Provision at start of year
1,199
-
(Credited)/charged to the profit and loss account
(430)
1,199
Provision at end of year
769
1,199
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).