Verona Homes Limited 05970248 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property development Digita Accounts Production Advanced 6.30.9574.0 true true true 05970248 2023-04-01 2024-03-31 05970248 2024-03-31 05970248 bus:OrdinaryShareClass1 2024-03-31 05970248 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05970248 bus:SmallEntities 2023-04-01 2024-03-31 05970248 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05970248 bus:FilletedAccounts 2023-04-01 2024-03-31 05970248 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05970248 bus:RegisteredOffice 2023-04-01 2024-03-31 05970248 bus:Director2 2023-04-01 2024-03-31 05970248 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 05970248 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05970248 1 2023-04-01 2024-03-31 05970248 countries:EnglandWales 2023-04-01 2024-03-31 05970248 2022-04-01 2023-03-31 05970248 2023-03-31 05970248 bus:OrdinaryShareClass1 2023-03-31 05970248 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05970248

Verona Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Verona Homes Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Verona Homes Limited

(Registration number: 05970248)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Cash at bank and in hand

 

563,527

542,075

Creditors: Amounts falling due within one year

4

(6,354)

(2,679)

Net assets

 

557,173

539,396

Capital and reserves

 

Called up share capital

5

500,000

500,000

Retained earnings

57,173

39,396

Shareholders' funds

 

557,173

539,396

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 2 September 2024 and signed on its behalf by:
 

.........................................
M A Bille
Director

 

Verona Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Evesham Vale Growers
Birmingham Road
Blackminster
Evesham
Worcestershire
WR11 7TD
United Kingdom

These financial statements were authorised for issue by the Board on 2 September 2024.

2

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration for rental income receivable and gains on property developments.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Verona Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Verona Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

5,772

1,743

Accruals and deferred income

582

936

6,354

2,679

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

500,000

500,000

500,000

500,000

       

6

Parent and ultimate parent undertaking

The company's immediate parent is MAPP Holdings Limited, incorporated in England.