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REGISTERED NUMBER: 09291638 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

VR PROPERTY LTD

VR PROPERTY LTD (REGISTERED NUMBER: 09291638)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VR PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr Sanjeev Kumar





REGISTERED OFFICE: 39 Lysways Street
Walsall
West Midlands
WS1 3AG





REGISTERED NUMBER: 09291638 (England and Wales)





ACCOUNTANTS: Ark Aurora Ltd
Chartered Accountants & Chartered Tax Advisers
The Maltings
2 Anderson Rd
Bearwood
Birmingham
West Midlands
B66 4AR

VR PROPERTY LTD (REGISTERED NUMBER: 09291638)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,752 60,564
Investment property 5 4,913,645 4,530,037
4,965,397 4,590,601

CURRENT ASSETS
Debtors 6 1,762,051 12,764
Cash at bank 63,882 -
1,825,933 12,764
CREDITORS
Amounts falling due within one year 7 2,141 55,816
NET CURRENT ASSETS/(LIABILITIES) 1,823,792 (43,052 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,789,189

4,547,549

CREDITORS
Amounts falling due after more than one
year

8

(5,708,315

)

(3,310,140

)

PROVISIONS FOR LIABILITIES 9 (89,660 ) (184,226 )
NET ASSETS 991,214 1,053,183

CAPITAL AND RESERVES
Called up share capital 1 1
Other reserves 1,006,292 911,726
Retained earnings (15,079 ) 141,456
SHAREHOLDERS' FUNDS 991,214 1,053,183

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

VR PROPERTY LTD (REGISTERED NUMBER: 09291638)

BALANCE SHEET - continued
31 MAY 2024


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

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

The financial statements were approved by the director and authorised for issue on 3 September 2024 and were signed by:





Mr Sanjeev Kumar - Director


VR PROPERTY LTD (REGISTERED NUMBER: 09291638)

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


1. STATUTORY INFORMATION

VR Property Ltd 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

VR PROPERTY LTD (REGISTERED NUMBER: 09291638)

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


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2023 144,155
Additions 320
At 31 May 2024 144,475
DEPRECIATION
At 1 June 2023 83,591
Charge for year 9,132
At 31 May 2024 92,723
NET BOOK VALUE
At 31 May 2024 51,752
At 31 May 2023 60,564

Included in cost of land and buildings is freehold land of £ 4,475,322 (2023 - £ 4,475,322 ) which is not depreciated.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 4,530,037
Additions 383,608
At 31 May 2024 4,913,645
NET BOOK VALUE
At 31 May 2024 4,913,645
At 31 May 2023 4,530,037

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2015 351,010
Valuation in 2021 558,582
Cost 4,004,053
4,913,645

VR PROPERTY LTD (REGISTERED NUMBER: 09291638)

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


6. DEBTORS
31.5.24 31.5.23
£    £   
Amounts falling due within one year:
Trade debtors (3,711 ) 2,937
Prepayments 9,827 9,827
6,116 12,764

Amounts falling due after more than one year:
Amounts owed by group undertakings 1,755,935 -

Aggregate amounts 1,762,051 12,764

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts - 7,138
Trade creditors 1,811 1
Tax - 48,377
Accrued expenses 330 300
2,141 55,816

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans more 5 yrs non-inst - 2,069,933
Hampshire Loan 4,616,775 -
Amounts owed to group undertakings 1,091,540 1,240,207
5,708,315 3,310,140

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 2,069,933
Hampshire Loan 4,616,775 -
4,616,775 2,069,933

9. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 89,660 184,226

VR PROPERTY LTD (REGISTERED NUMBER: 09291638)

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


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2023 184,226
Credit to Income Statement during year (94,566 )
Balance at 31 May 2024 89,660

10. RELATED PARTY DISCLOSURES

The Following companies are related to VR Property Ltd:

Related party Relationship

VR Investment Group Ltd Immediate parent
VR Estates Ltd Entity under common control/ownership
VR Investments Limited Entity under common control/ownership


11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is VR Investment Group Ltd, 39 Lysways Street, Walsall, England, WS1 3AG.

VR Property Ltd is wholly owned subsidiary of VR Investment Group Ltd, a company whose registered office is at 39 Lysways Street, Walsall, England, WS1 3AG.