Silverfin false false 31/03/2024 01/04/2023 31/03/2024 C Lindsay-Fynn 25/09/2019 N Lindsay-Fynn (non-executive) 10/12/1992 R Willson-Pemberton S R Glover 17 October 2024 The principal activity of the company is that of property investment and management. 00693062 2024-03-31 00693062 bus:Director1 2024-03-31 00693062 bus:Director2 2024-03-31 00693062 2023-03-31 00693062 core:CurrentFinancialInstruments 2024-03-31 00693062 core:CurrentFinancialInstruments 2023-03-31 00693062 core:ShareCapital 2024-03-31 00693062 core:ShareCapital 2023-03-31 00693062 core:SharePremium 2024-03-31 00693062 core:SharePremium 2023-03-31 00693062 core:CapitalRedemptionReserve 2024-03-31 00693062 core:CapitalRedemptionReserve 2023-03-31 00693062 core:RetainedEarningsAccumulatedLosses 2024-03-31 00693062 core:RetainedEarningsAccumulatedLosses 2023-03-31 00693062 core:ComputerEquipment 2023-03-31 00693062 core:ComputerEquipment 2024-03-31 00693062 bus:OrdinaryShareClass1 2024-03-31 00693062 2023-04-01 2024-03-31 00693062 bus:FilletedAccounts 2023-04-01 2024-03-31 00693062 bus:SmallEntities 2023-04-01 2024-03-31 00693062 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00693062 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00693062 bus:Director1 2023-04-01 2024-03-31 00693062 bus:Director2 2023-04-01 2024-03-31 00693062 bus:Director3 2023-04-01 2024-03-31 00693062 bus:CompanySecretary1 2023-04-01 2024-03-31 00693062 core:ComputerEquipment 2023-04-01 2024-03-31 00693062 2022-04-01 2023-03-31 00693062 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 00693062 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00693062 (England and Wales)

VANDA INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

VANDA INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

VANDA INVESTMENTS LIMITED

BALANCE SHEET

As at 31 March 2024
VANDA INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,816 3,323
Investment property 4 6,260,000 6,260,000
6,262,816 6,263,323
Current assets
Debtors 5 114,169 35,169
Cash at bank and in hand 43,772 92,265
157,941 127,434
Creditors: amounts falling due within one year 6 ( 135,963) ( 119,546)
Net current assets 21,978 7,888
Total assets less current liabilities 6,284,794 6,271,211
Provision for liabilities 7 ( 960,700) ( 960,850)
Net assets 5,324,094 5,310,361
Capital and reserves
Called-up share capital 8 2,548 2,548
Share premium account 38,736 38,736
Capital redemption reserve 24,644 24,644
Profit and loss account 5,258,166 5,244,433
Total shareholders' funds 5,324,094 5,310,361

For the financial 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.

Directors' responsibilities:

The financial statements of Vanda Investments Limited (registered number: 00693062) were approved and authorised for issue by the Board of Directors on 17 October 2024. They were signed on its behalf by:

C Lindsay-Fynn
Director
R Willson-Pemberton
Director
VANDA INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
VANDA INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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.

Turnover

Turnover comprises rents receivable, net of value added tax, which is recognised evenly over the rental period.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Computer equipment 33 % reducing balance
Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 April 2023 3,323 3,323
Additions 607 607
At 31 March 2024 3,930 3,930
Accumulated depreciation
At 01 April 2023 0 0
Charge for the financial year 1,114 1,114
At 31 March 2024 1,114 1,114
Net book value
At 31 March 2024 2,816 2,816
At 31 March 2023 3,323 3,323

4. Investment property

Investment property
£
Valuation
As at 01 April 2023 6,260,000
As at 31 March 2024 6,260,000

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.

5. Debtors

2024 2023
£ £
Trade debtors 2,216 3,475
Prepayments 31,892 1,694
Other debtors 80,061 30,000
114,169 35,169

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 10,404 5
Accruals and deferred income 79,076 84,691
Corporation tax 43,200 33,600
Other taxation and social security 3,283 1,250
135,963 119,546

7. Provision for liabilities

2024 2023
£ £
Deferred tax 960,700 960,850

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2,548 Ordinary shares of £ 1.00 each 2,548 2,548

Reserves

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.