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Company No: 12985688 (England and Wales)

VILLAGE DEVELOPMENTS N I LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

VILLAGE DEVELOPMENTS N I LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

VILLAGE DEVELOPMENTS N I LTD

COMPANY INFORMATION

For the financial year ended 31 March 2024
VILLAGE DEVELOPMENTS N I LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS J Raife
J J Stapleton
REGISTERED OFFICE Treviot House
186-192 High Road
Ilford
IG1 1LR
United Kingdom
COMPANY NUMBER 12985688 (England and Wales)
ACCOUNTANT Gravita Essex Limited
Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR
United Kingdom
VILLAGE DEVELOPMENTS N I LTD

BALANCE SHEET

As at 31 March 2024
VILLAGE DEVELOPMENTS N I LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 387,013 372,768
387,013 372,768
Current assets
Debtors 4 353 45
Cash at bank and in hand 1,269 5,441
1,622 5,486
Creditors: amounts falling due within one year 5 ( 432,292) ( 414,214)
Net current liabilities (430,670) (408,728)
Total assets less current liabilities (43,657) (35,960)
Net liabilities ( 43,657) ( 35,960)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 43,757 ) ( 36,060 )
Total shareholders' deficit ( 43,657) ( 35,960)

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Village Developments N I Ltd (registered number: 12985688) were approved and authorised for issue by the Board of Directors on 02 October 2024. They were signed on its behalf by:

J Raife
Director
VILLAGE DEVELOPMENTS N I LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
VILLAGE DEVELOPMENTS N I LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Village Developments N I Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Treviot House, 186-192 High Road, Ilford, IG1 1LR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The balance sheet at the end of the year recorded net liabilities. However, the director believes that sufficient financial resources are available to the company to enable it to continue trading into the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 25 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 April 2023 370,969 3,199 374,168
Additions 14,695 0 14,695
At 31 March 2024 385,664 3,199 388,863
Accumulated depreciation
At 01 April 2023 0 1,400 1,400
Charge for the financial year 0 450 450
At 31 March 2024 0 1,850 1,850
Net book value
At 31 March 2024 385,664 1,349 387,013
At 31 March 2023 370,969 1,799 372,768

4. Debtors

2024 2023
£ £
VAT recoverable 353 45

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,835 0
Amounts owed to Group undertakings 429,324 413,090
Accruals 1,133 1,124
432,292 414,214