Company Registration No. 09979526 (England and Wales)
V&A Investments Limited
Unaudited accounts
for the year ended 29 February 2024
V&A Investments Limited
Statement of financial position
as at 29 February 2024
Tangible assets
27,180
36,129
Investment property
955,000
955,000
Cash at bank and in hand
19,894
15,973
Creditors: amounts falling due within one year
(4,204)
(2,473)
Net current assets
18,843
16,125
Total assets less current liabilities
1,001,023
1,007,254
Creditors: amounts falling due after more than one year
(924,987)
(925,628)
Provisions for liabilities
Deferred tax
(19,278)
(19,278)
Called up share capital
100
100
Profit and loss account
56,658
62,248
Shareholders' funds
56,758
62,348
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2024 and were signed on its behalf by
Vinay Joshi
Director
Company Registration No. 09979526
V&A Investments Limited
Notes to the Accounts
for the year ended 29 February 2024
V&A Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 09979526. The registered office is First Floor Offices 25 Sanders Road, Finedon Road Industrial Estate, Wellingborough, Northamptonshire, NN8 4NL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value of gross rent due to the company for the financial year.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 accounts. 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.
V&A Investments Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2023
36,381
3,997
40,378
At 29 February 2024
36,381
4,584
40,965
At 1 March 2023
902
3,347
4,249
Charge for the year
8,870
666
9,536
At 29 February 2024
9,772
4,013
13,785
At 29 February 2024
26,609
571
27,180
At 28 February 2023
35,479
650
36,129
Fair value at 1 March 2023
955,000
At 29 February 2024
955,000
There has been no valuation of investment property by an independent valuer. The directors have valued the properties and believe they are valued at fair value.
Amounts falling due within one year
Accrued income and prepayments
708
1,125
7
Creditors: amounts falling due within one year
2024
2023
Deferred income
3,176
2,460
V&A Investments Limited
Notes to the Accounts
for the year ended 29 February 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
377,966
374,085
Loans from directors
547,021
551,543
The bank loans are secured against the investment properties.
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).