Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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6,262,816 | 6,263,323 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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157,941 | 127,434 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 21,978 | 7,888 | ||
Total assets less current liabilities | 6,284,794 | 6,271,211 | ||
Provision for liabilities | 7 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Share premium account |
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Capital redemption reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Vanda Investments Limited (registered number:
C Lindsay-Fynn
Director |
R Willson-Pemberton
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Vanda Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office and principal place of business is Lee Ford, Budleigh Salterton, EX9 7AJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
In the opinion of the directors, the company has sufficient working capital to continue to trade for the foreseeable future. Therefore the financial statements have been prepared on a going concern basis.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Computer equipment |
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The company holds the following financial instruments:
Short term trade and other debtors and creditors;
Loans; and
Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement:
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Computer equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 April 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated depreciation | |||
At 01 April 2023 |
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Charge for the financial year |
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At 31 March 2024 |
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Net book value | |||
At 31 March 2024 |
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At 31 March 2023 |
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Investment property | |
£ | |
Valuation | |
As at 01 April 2023 |
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As at 31 March 2024 |
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The directors have undertaken a review of the investments properties held by the company and concluded that the open market value at 31 March 2024 has remained at £6,260,000.
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Prepayments |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Trade creditors |
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Accruals and deferred income |
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Corporation tax |
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Other taxation and social security |
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2024 | 2023 | ||
£ | £ | ||
Deferred tax |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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The changes to each component of equity resulting from items of other comprehensive income for the current year and prior year were as follows:
As at 31 March 2024 the Profit and Loss Account included £3,830,772 (2023: £3,830,772) of non-distributable reserves. This relates to the revaluation surplus on investment properties, after taking into account the deferred taxation on this revaluation surplus.