Registration number:
V4P (Stevenage) NewCo Ltd
for the Period from 31 March 2023 to 28 March 2024
V4P (Stevenage) NewCo Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
V4P (Stevenage) NewCo Ltd
Company Information
Directors |
Companion Care (Services) Limited R L Orrin |
Registered office |
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V4P (Stevenage) NewCo Ltd
(Registration number: 13872032)
Balance Sheet as at 28 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
60 |
60 |
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Share premium reserve |
20,000 |
20,000 |
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Retained earnings |
377,866 |
130,562 |
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Shareholders' funds |
397,926 |
150,622 |
For the financial period ending 28 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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V4P (Stevenage) NewCo Ltd
Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
Accounts are prepared on a 52 week period (2023: 52 week period) resulting in a fluctuating year end between the 25th and 31st March.
Going concern
The directors have considered the factors that impact the company's future development, performance, cash flows and financial position along with the company's current liquidity in forming their opinion on the going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Revenue recognition
Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers in the UK.
Turnover is recognised at point of sale except for turnover derived from care plans, which is recognised on an apportioned basis relative to delivery of the service.
Depreciation
Asset class |
Depreciation method and rate |
Fixtures, fittings and equipment |
3 - 10 years straight line |
V4P (Stevenage) NewCo Ltd
Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024
2 |
Accounting policies (continued) |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments are investments in equity shares which are not publicly traded and where fair value cannot be measured reliably. They are therefore measured at cost less impairment.
Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks stated at the lower of cost and estimated selling price less costs to sell. Stock is recognised as an expense in the period in which the related turnover is recognised.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
V4P (Stevenage) NewCo Ltd
Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024
2 |
Accounting policies (continued) |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
V4P (Stevenage) NewCo Ltd
Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024
Investments |
2024 |
2023 |
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Investments in joint ventures |
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Joint ventures |
£ |
Cost |
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At 31 March 2023 |
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Carrying amount |
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At 28 March 2024 |
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At 30 March 2023 |
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Debtors |
Current |
2024 |
2023 |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
- |
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Amounts owed to related parties |
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Deferred consideration |
- |
74,032 |
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Other creditors |
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V4P (Stevenage) NewCo Ltd
Notes to the Unaudited Financial Statements for the Period from 31 March 2023 to 28 March 2024
6 |
Creditors (continued) |
Creditors: amounts falling due after more than one year
Note |
2023 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
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Bank borrowings |
- |
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Current loans and borrowings
2024 |
2023 |
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Bank borrowings |
- |
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Bank borrowings
Loan was secured via a personal guarantee by R L Orrin and debenture over the company's assets. |
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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'A' Ordinary of £1 each |
60 |
60 |
60 |
60 |