Registered number
14594876
34-36 Victoria Road (Farnborough) Ltd
Filleted Accounts
31 January 2024
34-36 Victoria Road (Farnborough) Ltd
Registered number: 14594876
Balance Sheet
as at 31 January 2024
Notes 2024
£
Fixed assets
Tangible assets 3 1,479,309
Current assets
Debtors 4 19,784
Creditors: amounts falling due within one year 5 (742,086)
Net current liabilities (722,302)
Total assets less current liabilities 757,007
Creditors: amounts falling due after more than one year 6 (833,208)
Net liabilities (76,201)
Capital and reserves
Called up share capital 1,000
Profit and loss account (77,201)
Shareholders' funds (76,201)
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 members have 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.
S M T Wyeth
Director
Approved by the board on 15 October 2024
34-36 Victoria Road (Farnborough) Ltd
Notes to the Accounts
for the period from 16 January 2023 to 31 January 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024
Number
Average number of persons employed by the company 0
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 1,479,309
At 31 January 2024 1,479,309
Depreciation
At 31 January 2024 -
Net book value
At 31 January 2024 1,479,309
4 Debtors 2024
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest 500
Prepayments 1,937
Other debtors 17,347
19,784
5 Creditors: amounts falling due within one year 2024
£
Bank loans and overdrafts 135,792
Trade creditors 71,554
Amounts owed to group undertakings and undertakings in which the company has a participating interest 533,750
Accruals 990
742,086
6 Creditors: amounts falling due after one year 2024
£
Bank loans 833,208
7 Related party transactions
During the period the company made purchases of £318,460 from Skylofts Ltd, a company in which S M T Wyeth is also a director.
At the period end the company owed loans of £533,750 to Isla Properties Ltd, a company which owns 50% of the issued share capital.
8 Controlling party
The company is controlled by the director, who owns 60% of the issued share capital of SW Homes & Developments Ltd, a company which owns 50% of the issued share capital in Wyeth Burrell Properties Ltd, a company which owns 50% of the issued share capital.
9 Other information
34-36 Victoria Road (Farnborough) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Westmead House
Westmead
Farnborough
Hampshire
GU14 7LP
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