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REGISTERED NUMBER: 07089735 (England and Wales)













Report of the Director and

Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Vixen Properties Limited

Vixen Properties Limited (Registered number: 07089735)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Report of the Director 2

Statement of Income and Retained Earnings 3

Balance Sheet 4

Notes to the Financial Statements 6


Vixen Properties Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: A J Mallon





REGISTERED OFFICE: Unit 73 Jay Avenue
Teesside Industrial Estate
THORNABY
Stockton On Tees
TS17 9LZ





REGISTERED NUMBER: 07089735 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Vixen Properties Limited (Registered number: 07089735)

Report of the Director
for the Year Ended 30 April 2024

The director presents his report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of other letting and operating of own or leased real estate.

DIRECTOR
A J Mallon held office during the whole of the period from 1 May 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A J Mallon - Director


8 October 2024

Vixen Properties Limited (Registered number: 07089735)

Statement of Income and
Retained Earnings
for the Year Ended 30 April 2024

2024 2023
Notes £    £   

TURNOVER 216,006 216,000

Administrative expenses (22,321 ) (76,492 )
193,685 139,508

Other operating income 19,338 -
OPERATING PROFIT 213,023 139,508


Interest payable and similar expenses (12,044 ) (10,319 )
PROFIT BEFORE TAXATION 200,979 129,189

Tax on profit 4 (42,605 ) (27,672 )
PROFIT FOR THE FINANCIAL YEAR 158,374 101,517

Retained earnings at beginning of year 1,962,530 1,861,013

Dividends (56,100 ) -

RETAINED EARNINGS AT END OF
YEAR

2,064,804

1,962,530

Vixen Properties Limited (Registered number: 07089735)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 11,593 19,776
Investment property 6 2,832,764 2,661,496
2,844,357 2,681,272

CURRENT ASSETS
Debtors 7 4,047 2,730
Cash at bank 4,319 7,595
8,366 10,325
CREDITORS
Amounts falling due within one year 8 624,950 577,142
NET CURRENT LIABILITIES (616,584 ) (566,817 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,227,773

2,114,455

CREDITORS
Amounts falling due after more than one
year

9

(141,708

)

(135,089

)

PROVISIONS FOR LIABILITIES 11 (20,261 ) (15,836 )
NET ASSETS 2,065,804 1,963,530

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Retained earnings 2,064,804 1,962,530
SHAREHOLDERS' FUNDS 2,065,804 1,963,530

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Vixen Properties Limited (Registered number: 07089735)

Balance Sheet - continued
30 April 2024


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

The financial statements were approved by the director and authorised for issue on 8 October 2024 and were signed by:





A J Mallon - Director


Vixen Properties Limited (Registered number: 07089735)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Vixen Properties Limited 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.

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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised when the conditions contained within a contract for services have been met.

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

Plant and Machinery - 10% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Government grants
Capital based grants are credited to the profit and loss account in equal instalments, over the estimated useful life of the related asset.

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
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Vixen Properties Limited (Registered number: 07089735)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

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 (2023 - NIL).

4. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 38,180 24,359

Deferred tax 4,425 3,313
Tax on profit 42,605 27,672

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 May 2023
and 30 April 2024 81,829
DEPRECIATION
At 1 May 2023 62,053
Charge for year 8,183
At 30 April 2024 70,236
NET BOOK VALUE
At 30 April 2024 11,593
At 30 April 2023 19,776

Vixen Properties Limited (Registered number: 07089735)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 2,661,496
Additions 171,268
At 30 April 2024 2,832,764
NET BOOK VALUE
At 30 April 2024 2,832,764
At 30 April 2023 2,661,496

The directors consider the current valuation of investment properties to be appropriate based on current market values.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments and accrued income 4,047 2,730

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 57,325 57,325
Trade creditors - 4,785
Amounts owed to group undertakings 496,321 515,106
Taxation and social security 50,030 (1,855 )
Accruals and deferred income 1,936 1,781
Deferred government grants 19,338 -
624,950 577,142

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 57,325 57,325
Bank loans - 2-5 years 26,369 77,764
Deferred government grants 58,014 -
141,708 135,089

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 141,019 192,414

The bank loans are secured against the assets of the company.

Vixen Properties Limited (Registered number: 07089735)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 20,261 15,836

Deferred
tax
£   
Balance at 1 May 2023 15,836
Provided during year 4,425
Balance at 30 April 2024 20,261

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary shares £1 1,000 1,000

13. RELATED PARTY DISCLOSURES

The company received rent of £216,000 (2023: £216,000) from Vixen Surface Treatments Limited. This company is also owned and managed by Mr A J Mallon. Amounts owed to Vixen Surface Treatments Limited in the year totalled £496,321 (2022: £515,106).

14. ULTIMATE CONTROLLING PARTY

The controlling party is A J Mallon.