Registered number
11997319
Verus Praedium Limited
Filleted Accounts
31 March 2024
Verus Praedium Limited
Registered number: 11997319
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,053,000 461,446
Current assets
Debtors 4 28,035 26,622
Cash at bank and in hand 2,764 72,931
30,799 99,553
Creditors: amounts falling due within one year 5 (266,906) (209,164)
Net current liabilities (236,107) (109,611)
Total assets less current liabilities 816,893 351,835
Creditors: amounts falling due after more than one year 6 (668,410) (343,157)
Provisions for liabilities (37,423) -
Net assets 111,060 8,678
Capital and reserves
Called up share capital 2 2
Revaluation reserve 8 112,269 -
Profit and loss account (1,211) 8,676
Shareholders' funds 111,060 8,678
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 Pranas Preidzius
Director
Approved by the board on 16 October 2024
Verus Praedium Limited
Notes to the Accounts
for the period from 1 October 2023 to 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 and value added taxes. Turnover includes revenue earned from the rendering of services.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Not depreciated
Fixed Asset Investments
Investment properties are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 October 2023 461,446
Additions 441,862
Surplus on revaluation 149,692
At 31 March 2024 1,053,000
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 1,053,000
At 30 September 2023 461,446
Freehold land and buildings: 2024 2023
£ £
Historical cost 461,446 461,446
Cumulative depreciation based on historical cost - -
461,446 461,446
4 Debtors 2024 2023
£ £
Other debtors 28,035 26,622
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,000 9,000
Taxation and social security costs 361 361
Other creditors 257,545 199,803
266,906 209,164
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 668,410 343,157
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 657,910 328,157
Secured bank loans 657,910 328,157
The company has 9 interest only mortgages. These loan are secured against the investment properties owned by the company.
8 Revaluation reserve 2024 2023
£ £
Gain on revaluation of land and buildings 149,692 -
Deferred taxation arising on the revaluation of land and buildings (37,423) -
At 31 March 2024 112,269 -
9 Other information
Verus Praedium Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 Thistle Green
Swavesey
Cambridge
CB24 4RJ
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