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REGISTERED NUMBER: 02249086 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2023

FOR

VERIC RESIDENTS LIMITED

VERIC RESIDENTS LIMITED (REGISTERED NUMBER: 02249086)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VERIC RESIDENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 25 DECEMBER 2023







DIRECTORS: R Johnson
R C Satchell
S Collins
M A Luxumburg-Chalon
L G I Brida
O R Gatting





REGISTERED OFFICE: Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY





BUSINESS ADDRESS: Flat 18 Veric
16-18 Eaton Gardens
Hove
East Sussex
BN3 3UB





REGISTERED NUMBER: 02249086 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY

VERIC RESIDENTS LIMITED (REGISTERED NUMBER: 02249086)

BALANCE SHEET
25 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,587 14,587

CURRENT ASSETS
Debtors 5 6,198 2,841

CREDITORS
Amounts falling due within one year 6 9,383 6,701
NET CURRENT LIABILITIES (3,185 ) (3,860 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,402

10,727

CREDITORS
Amounts falling due after more than one
year

7

10,000

10,000
NET ASSETS 1,402 727

CAPITAL AND RESERVES
Called up share capital 8 43 43
Retained earnings 1,359 684
SHAREHOLDERS' FUNDS 1,402 727

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 25 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





M A Luxumburg-Chalon - Director


VERIC RESIDENTS LIMITED (REGISTERED NUMBER: 02249086)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 DECEMBER 2023


1. STATUTORY INFORMATION

Veric Residents Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Revenue is measured at fair value of the consideration received or receivable. Revenue is the total amount receivable by the company for ground rents and rental of storage cupboards and is recognised on the date it falls due.

Tangible fixed assets
Freehold land and buildings are not depreciated. The buildings are maintained in their existing condition on behalf of the residents from the residents' maintenance fund to which expenditures are charged as they arise.


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.

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

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

VERIC RESIDENTS LIMITED (REGISTERED NUMBER: 02249086)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25 DECEMBER 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 26 December 2022
and 25 December 2023 14,587
NET BOOK VALUE
At 25 December 2023 14,587
At 25 December 2022 14,587

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Ground rent outstanding 76 35
Due from managing agent 6,122 2,806
6,198 2,841

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 135 -
Due to maintenance account 8,115 4,000
Accrued expenses 1,133 2,701
9,383 6,701

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 10,000 10,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
6 'A' Ordinary 1 6 6
35 'B' Ordinary 1 35 35
2 'C' Ordinary 1 2 2
43 43