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REGISTERED NUMBER: 12270899 (England and Wales)















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: Mrs V Smullen
T W Smullen





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 12270899 (England and Wales)





ACCOUNTANTS: Cobham Murphy
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 1,377 2,274
Investment property 5 2,694,699 2,500,164
2,696,076 2,502,438

CURRENT ASSETS
Debtors 6 58,218 59,747
Cash at bank 21,782 44,847
80,000 104,594
CREDITORS
Amounts falling due within one year 7 269,603 322,805
NET CURRENT LIABILITIES (189,603 ) (218,211 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,506,473

2,284,227

CREDITORS
Amounts falling due after more than
one year

8

(2,138,133

)

(1,887,706

)

PROVISIONS FOR LIABILITIES (344 ) (315 )
NET ASSETS 367,996 396,206

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 264,461 264,461
Retained earnings 103,435 131,645
SHAREHOLDERS' FUNDS 367,996 396,206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 October 2023 in accordance with Section 476 of the Companies Act 2006.

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 12 July 2024 and were signed on its behalf by:





T W Smullen - Director


Victer Ltd (Registered number: 12270899)

Notes to the Financial Statements
for the Year Ended 29 October 2023

1. STATUTORY INFORMATION

Victer Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 4,649
Additions 981
At 29 October 2023 5,630
DEPRECIATION
At 30 October 2022 2,375
Charge for year 1,878
At 29 October 2023 4,253
NET BOOK VALUE
At 29 October 2023 1,377
At 29 October 2022 2,274

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 October 2022 2,500,164
Additions 194,535
At 29 October 2023 2,694,699
NET BOOK VALUE
At 29 October 2023 2,694,699
At 29 October 2022 2,500,164

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 58,218 59,747

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.10.23 29.10.22
£    £   
Bank loans and overdrafts 5,800 5,800
Amounts owed to associates 260,629 297,093
Taxation and social security 1,674 18,962
Other creditors 1,500 950
269,603 322,805

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.10.23 29.10.22
£    £   
Bank loans 2,138,133 1,887,706

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 3,528 -
Between one and five years 3,234 -
6,762 -

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.