Company registration number 14933955 (England and Wales)
VSHF NOTTINGHAM II LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
VSHF NOTTINGHAM II LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
Notes to the financial statements
3 - 8
VSHF NOTTINGHAM II LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
£
£
Fixed assets
Intangible assets
3
40,875
Tangible assets
4
2,667
Investment property
5
9,060,000
9,103,542
Current assets
Debtors
6
90,177
Cash at bank and in hand
87,644
177,821
Creditors: amounts falling due within one year
7
(4,474,934)
Net current liabilities
(4,297,113)
Total assets less current liabilities
4,806,429
Creditors: amounts falling due after more than one year
8
(4,750,000)
Net assets
56,429
Capital and reserves
Called up share capital
100
Profit and loss reserves
9
56,329
Total equity
56,429

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

VSHF NOTTINGHAM II LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 July 2024 and are signed on its behalf by:
G  Spaenjaers
Director
Company registration number 14933955 (England and Wales)
VSHF NOTTINGHAM II LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

VSHF Nottingham II Limited is a private company limited by shares incorporated in England and Wales. The registered office is 70 St Mary Axe, London, EC3A 8BE.

1.1
Reporting period

These financial statements cover the period from incorporation to 31 December 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the rent receivable in the normal course of business.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Licenses
5 years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% straight line
VSHF NOTTINGHAM II LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

VSHF NOTTINGHAM II LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities. Trade creditors are recognised initially at transaction price.

1.10
Equity instruments

Share capital issued by the company is recorded at the proceeds received, net of transaction costs. Dividends payable on share capital are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
2
3
Intangible fixed assets
Licenses
£
Cost
At 13 June 2023
-
0
Additions
43,050
At 31 December 2023
43,050
Amortisation and impairment
At 13 June 2023
-
0
Amortisation charged for the period
2,175
At 31 December 2023
2,175
Carrying amount
At 31 December 2023
40,875
VSHF NOTTINGHAM II LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 6 -
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 13 June 2023
-
0
Additions
2,721
At 31 December 2023
2,721
Depreciation and impairment
At 13 June 2023
-
0
Depreciation charged in the period
54
At 31 December 2023
54
Carrying amount
At 31 December 2023
2,667
5
Investment property
2023
£
Fair value
At 13 June 2023
-
0
Additions
9,112,139
Revaluations
(52,139)
At 31 December 2023
9,060,000

Investment property comprises rental properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out in December 2023 by Jones Lang LaSelle Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Debtors
2023
Amounts falling due within one year:
£
Other debtors
90,177
VSHF NOTTINGHAM II LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 7 -
7
Creditors: amounts falling due within one year
2023
£
Amounts owed to group undertakings
4,349,030
Other creditors
125,904
4,474,934
8
Creditors: amounts falling due after more than one year
2023
£
Bank loans and overdrafts
4,750,000

Bank loans are secured by fixed and floating charges over the company's assets.

VSHF NOTTINGHAM II LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 8 -
9
Reserves
Profit and loss reserves
This comprises opening retained earnings, the profit or loss for the year and dividends paid as set out in the Statement of Changes in Equity.
10
Parent company

The company is a member of a group that is headed by Student Homes LP (3rd Floor, Liberation House, Castle Street, St Helier, Jersey, Channel Islands, JE1 2LII) for which consolidated accounts are prepared. The company's parent company is Student Homes I Limited (70 St Mary Axe, London, England, EC3A 8BE).

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