IRIS Accounts Production v24.2.0.383 10039911 director 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh100399112023-03-31100399112024-03-31100399112023-04-012024-03-31100399112022-03-31100399112022-04-012023-03-31100399112023-03-3110039911ns15:EnglandWales2023-04-012024-03-3110039911ns14:PoundSterling2023-04-012024-03-3110039911ns10:Director12023-04-012024-03-3110039911ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3110039911ns10:SmallEntities2023-04-012024-03-3110039911ns10:AuditExemptWithAccountantsReport2023-04-012024-03-3110039911ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3110039911ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3110039911ns10:AbridgedAccounts2023-04-012024-03-3110039911ns10:RegisteredOffice2023-04-012024-03-3110039911ns5:CurrentFinancialInstruments2024-03-3110039911ns5:CurrentFinancialInstruments2023-03-3110039911ns5:Non-currentFinancialInstruments2024-03-3110039911ns5:Non-currentFinancialInstruments2023-03-3110039911ns5:ShareCapital2024-03-3110039911ns5:ShareCapital2023-03-3110039911ns5:RevaluationReserve2024-03-3110039911ns5:RevaluationReserve2023-03-3110039911ns5:Non-currentFinancialInstruments2023-04-012024-03-3110039911ns5:RevaluationReserve2023-03-31
REGISTERED NUMBER: 10039911 (England and Wales)




























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

VEGA MANAGEMENT SERVICES LIMITED

VEGA MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10039911)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

VEGA MANAGEMENT SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr M D Peet





REGISTERED OFFICE: Suite 204 Ashton Old Baths
Stamford Street West
Ashton under Lyne
Lancashire
OL6 7FW





REGISTERED NUMBER: 10039911 (England and Wales)





ACCOUNTANTS: Hanley & Co
Chartered Accountants
Suite 204 Ashton Old Baths
Stamford Street West
Ashton-under-Lyne
Lancashire
OL6 7FW

VEGA MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10039911)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,414,381 2,075,018

CURRENT ASSETS
Debtors 2,880 641
Cash at bank 7,242 24,958
10,122 25,599
CREDITORS
Amounts falling due within one year 13,309 16,052
NET CURRENT (LIABILITIES)/ASSETS (3,187 ) 9,547
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,411,194

2,084,565

CREDITORS
Amounts falling due after more than one
year

5

(1,872,292

)

(1,887,211

)

PROVISIONS FOR LIABILITIES (127,201 ) (27,082 )
NET ASSETS 411,701 170,272

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 6 352,804 115,453
Retained earnings 58,797 54,719
411,701 170,272

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

VEGA MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10039911)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





Mr M D Peet - Director


VEGA MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10039911)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Vega Management Services 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is the value of rents receivable in the period.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Totals
£   
COST OR VALUATION
At 1 April 2023 2,078,178
Additions 3,451
Revaluations 337,470
At 31 March 2024 2,419,099
DEPRECIATION
At 1 April 2023 3,160
Charge for year 1,558
At 31 March 2024 4,718
NET BOOK VALUE
At 31 March 2024 2,414,381
At 31 March 2023 2,075,018

VEGA MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 10039911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Cost or valuation at 31 March 2024 is represented by:

Totals
£   
Valuation in 2021 98,505
Valuation in 2022 44,030
Valuation in 2024 337,470
Cost 1,939,094
2,419,099

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS

Long term creditors are interest-only mortgages and a directors loan account as noted below.

6. RESERVES
Revaluation
reserve
£   
At 1 April 2023 115,453
Property revaluation 237,351

At 31 March 2024 352,804

7. RELATED PARTY DISCLOSURES

Creditors: amounts falling due within one year - includes and interest free directors' loan of £6,056 (2023: £5,827).

Creditors: amounts falling due after more that on year - includes an interest free directors' loan of £616,826 (2023: £631,826).

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
VEGA MANAGEMENT SERVICES LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vega Management Services Limited for the year ended 31 March 2024 which comprise the Abridged Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Vega Management Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vega Management Services Limited and state those matters that we have agreed to state to the director of Vega Management Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vega Management Services Limited and its director for our work or for this report.

It is your duty to ensure that Vega Management Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vega Management Services Limited. You consider that Vega Management Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Vega Management Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hanley & Co
Chartered Accountants
Suite 204 Ashton Old Baths
Stamford Street West
Ashton-under-Lyne
Lancashire
OL6 7FW


25 September 2024