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Registered number: 14090050
Vashatkar Properties Limited
Financial Statements
For The Year Ended 31 May 2024
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 14090050
31 May 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 449,468 449,468
449,468 449,468
CURRENT ASSETS
Debtors 5 101 100
Cash at bank and in hand 595 658
696 758
Creditors: Amounts Falling Due Within One Year 6 (252,720 ) (252,720 )
NET CURRENT ASSETS (LIABILITIES) (252,024 ) (251,962 )
TOTAL ASSETS LESS CURRENT LIABILITIES 197,444 197,506
Creditors: Amounts Falling Due After More Than One Year 7 (203,050 ) (203,050 )
NET LIABILITIES (5,606 ) (5,544 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement (5,706 ) (5,644 )
SHAREHOLDERS' FUNDS (5,606) (5,544)
Page 1
Page 2
For the year ending 31 May 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr R Penumarthi
Director
02/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Vashatkar Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14090050 . The registered office is 76 High Beeches, Banstead, Surrey, SM7 1NW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: )
- -
4. Investment Property
31 May 2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 449,468
5. Debtors
31 May 2024 31 May 2023
£ £
Due within one year
Other debtors 101 100
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
31 May 2024 31 May 2023
£ £
Amounts owed to group undertakings 252,000 252,000
Other creditors 720 720
252,720 252,720
7. Creditors: Amounts Falling Due After More Than One Year
31 May 2024 31 May 2023
£ £
Mortgage loan 203,050 203,050
8. Share Capital
31 May 2024 31 May 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4