Vogue Assets Limited
Registered number: 10147954
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Property development work in progress 1,559,790 1,178,847
Related Party Balance 2 - 224,746
Debtors 2 - -
Cash at bank and in hand 8,435 27,007
1,568,225 1,430,600
Creditors: amounts falling due within one year 2 (29,697) (37,635)
Net Current Assets 1,538,528 1,392,965
Total assets less current liabilities 1,538,528 1,392,965
Creditors: amounts falling due after more than one year 3 (1,572,916) (1,198,950)
Net Assets (34,388) 194,015
Capital and reserves
Called up share capital 100 100
Profit and loss account (34,488) 193,915
Shareholder's funds (34,388) 194,015
Average number of employees 0 1
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Satbir Singh Ahluwalia
Director
Approved by the board on 3 September 2024
Vogue Assets Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised when received.
Property development work In progress
Property development work In progress is valued at the lower of cost and net realisable value. Cost includes all direct costs incurred during the financial year.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Debtors 2024 2023
£ £
Related Party Balance - 224,746
Obelisk Camberley Loan - -
- 224,746
2 Creditors: amounts falling due within one year 2024 2023
£ £
Director's current account 10,184 10,184
Related party balances - 10,603
Corporation tax 45,550 45,550
Other taxes and social security costs (26,987) (29,652)
Other creditors and accruals 950 950
29,697 37,635
3 Creditors: amounts falling due after one year 2024 2023
£ £
Director's loan 1,539,827 1,157,567
Bounce back loan 33,089 38,383
Obelisk Camberley Loan - 3,000
1,572,916 1,198,950
4 Related party transactions 2024 2023
£ £
Chippenham Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Chippenham Limited.
An interest free and unsecured loan by Chippenham Limited yet to be reimbursed by the company.
Amount due to the related party - 270
Wiilow Cottage Care Home Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Willow Cottage Care Home Limited.
An interest free and unsecured loan by Willow Cottage Care Home Limited yet to be reimbursed by the company.
Amount due to the related party - 7,333
Mulberry Care Home Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Mulberry Care Home Limited.
An interest free and unsecured loan by Mulberry Care Home Limited yet to be reimbursed by the company.
Amount due from and to the related party - 91,774
Life Care Corporation Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Life Care Corporation Limited.
An interest free and unsecured loan by Life Care Corporation Limited yet to be reimbursed by the company.
Amount due from and to the related party - 17,367
Mulberry Care Group Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Mulberry Care Group Limited.
An interest free and unsecured loan by Mulberry Care Group Limited yet to be reimbursed by the company.
Amount due from and to the related party - 1,000
Sat Bir Asset Holdings Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Sat Bir Asset Holdings Limited.
An interest free and unsecured loan to Sat Bir Asset Holdings Limited yet to be reimbursed by the company.
Amount due from and to the related party - 103,006
Sudaj Limited
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Sudaj Limited.
An interest free and unsecured loan to Sudaj Limited yet to be reimbursed by the company.
Amount due from and to the related party - 12,500
5 Controlling party
The director controls the company.
6 Other information
Vogue Assets Limited is a private company limited by shares and incorporated in England. Its registered office is:
Keyers Bridge House
Wokingham Road
Hurst
Reading
Berkshire RG10 0RU
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