REGISTERED NUMBER: |
Financial Statements for the Year Ended 29 October 2023 |
for |
Victer Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 29 October 2023 |
for |
Victer Ltd |
Victer Ltd (Registered number: 12270899) |
Contents of the Financial Statements |
for the Year Ended 29 October 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Victer Ltd |
Company Information |
for the Year Ended 29 October 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
116 Duke Street |
Liverpool |
Merseyside |
L1 5JW |
Victer Ltd (Registered number: 12270899) |
Balance Sheet |
29 October 2023 |
29.10.23 | 29.10.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
Victer Ltd (Registered number: 12270899) |
Balance Sheet - continued |
29 October 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Victer Ltd (Registered number: 12270899) |
Notes to the Financial Statements |
for the Year Ended 29 October 2023 |
1. | STATUTORY INFORMATION |
Victer Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable on property rental, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised as the rents become due. |
Tangible fixed assets |
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. |
Financial instruments |
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and 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. |
Victer Ltd (Registered number: 12270899) |
Notes to the Financial Statements - continued |
for the Year Ended 29 October 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 30 October 2022 |
Additions |
At 29 October 2023 |
DEPRECIATION |
At 30 October 2022 |
Charge for year |
At 29 October 2023 |
NET BOOK VALUE |
At 29 October 2023 |
At 29 October 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 30 October 2022 |
Additions |
At 29 October 2023 |
NET BOOK VALUE |
At 29 October 2023 |
At 29 October 2022 |
Victer Ltd (Registered number: 12270899) |
Notes to the Financial Statements - continued |
for the Year Ended 29 October 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.10.23 | 29.10.22 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.10.23 | 29.10.22 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to associates | 260,629 | 297,093 |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
29.10.23 | 29.10.22 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 2,126,533 | 1,870,306 |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
29.10.23 | 29.10.22 |
£ | £ |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
29.10.23 | 29.10.22 |
£ | £ |
Bank loans | 2,126,533 | - |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Mr T Smullen operates a current account to which transactions of a private nature are charged. Included on other debtors at 29th October 2023 is £58,218 owed to the company. The loan is repayable on demand and includes interest at 2% and 2.25%. |
Victer Ltd (Registered number: 12270899) |
Notes to the Financial Statements - continued |
for the Year Ended 29 October 2023 |
12. | RELATED PARTY DISCLOSURES |
Included in creditors at 29th October 2023 is £260,629 owed to related parties under common control. The loans are repayable on demand and interest free. |