Company Registration No. 08283654 (England and Wales)
Vousden Property Services Ltd
Unaudited accounts
for the year ended 31 March 2024
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Vousden Property Services Ltd
for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Vousden Property Services Ltd for the year ended
31 March 2024 as set out on pages
3 -
6 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of Vousden Property Services Ltd, as a body, in accordance with the terms of our engagement letter dated 8 April 2024. Our work has been undertaken solely to prepare for your approval the accounts of Vousden Property Services Ltd and state those matters that we have agreed to state to the Board of Directors of Vousden Property Services Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vousden Property Services Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Vousden Property Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Vousden Property Services Ltd. You consider that Vousden Property Services Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Vousden Property Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Dove Accountants, Tax & Business Advisors
Chartered Certified Accountants
Suite 2, The Wellington
78 High Street
Uttoxeter
Staffordshire
ST14 7JD
25 October 2024
Vousden Property Services Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
222,490
196,387
Investment property
280,425
-
Cash at bank and in hand
1,020,285
1,326,892
Creditors: amounts falling due within one year
(186,169)
(384,874)
Net current assets
1,239,422
1,608,572
Total assets less current liabilities
1,742,337
1,804,959
Provisions for liabilities
Deferred tax
(23,850)
(18,077)
Net assets
1,718,487
1,786,882
Called up share capital
100
100
Profit and loss account
1,718,387
1,786,782
Shareholders' funds
1,718,487
1,786,882
For the year ending 31 March 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 25 October 2024 and were signed on its behalf by
S Vousden
Director
Company Registration No. 08283654
Vousden Property Services Ltd
Notes to the Accounts
for the year ended 31 March 2024
Vousden Property Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 08283654. The registered office is 7 Kingswood, Kidsgrove, Stoke On Trent, Staffordshire, ST7 4UX, United Kingdom.
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 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:
Land & buildings
2% straight line basis on buildings
Plant & machinery
25% reducing balance basis
Computer equipment
33.3% straight line basis
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Vousden Property Services Ltd
Notes to the Accounts
for the year ended 31 March 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
157,611
161,584
3,804
322,999
Additions
-
48,608
-
48,608
Disposals
-
(30,588)
-
(30,588)
At 31 March 2024
157,611
179,604
3,804
341,019
At 1 April 2023
27,468
96,385
2,759
126,612
Charge for the year
3,052
17,313
418
20,783
On disposals
-
(28,866)
-
(28,866)
At 31 March 2024
30,520
84,832
3,177
118,529
At 31 March 2024
127,091
94,772
627
222,490
At 31 March 2023
130,143
65,199
1,045
196,387
Amounts falling due within one year
Trade debtors
397,450
659,703
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
31,279
13,554
Taxes and social security
123,257
343,729
Other creditors
31,633
27,591
Vousden Property Services Ltd
Notes to the Accounts
for the year ended 31 March 2024
8
Average number of employees
During the year the average number of employees was 11 (2023: 10).