Company Registration No. 10619666 (England and Wales)
VCG PROPERTY LIMITED
Unaudited accounts
for the year ended 29 February 2024
VCG PROPERTY LIMITED
Unaudited accounts
Contents
VCG PROPERTY LIMITED
Company Information
for the year ended 29 February 2024
Directors
Victoria Clare Grant Pickford
Joshua James Pickford
Company Number
10619666 (England and Wales)
Registered Office
Old Coach House
Bulls Lane
Salisbury
Wiltshire
SP5 5DJ
England
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
VCG PROPERTY LIMITED
Accountants' report
Accountants' report to the board of directors of VCG PROPERTY LIMITED on the preparation of the unaudited statutory accounts for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
VCG PROPERTY LIMITED for the year ended
29 February 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of VCG PROPERTY LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of VCG PROPERTY LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VCG PROPERTY LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that VCG PROPERTY LIMITED 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 VCG PROPERTY LIMITED. You consider that VCG PROPERTY LIMITED 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 VCG PROPERTY LIMITED. 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.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
27 September 2024
VCG PROPERTY LIMITED
Statement of financial position
as at 29 February 2024
Tangible assets
406,115
406,115
Investment property
305,246
305,246
Cash at bank and in hand
4,563
2,971
Creditors: amounts falling due within one year
(233,661)
(225,889)
Net current liabilities
(229,098)
(222,918)
Total assets less current liabilities
482,263
488,443
Creditors: amounts falling due after more than one year
(406,716)
(436,716)
Provisions for liabilities
Called up share capital
10
10
Revaluation reserve
12,020
16,026
Profit and loss account
59,511
35,691
Shareholders' funds
71,541
51,727
For the year ending 29 February 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 12 November 2024 and were signed on its behalf by
Joshua James Pickford
Director
Company Registration No. 10619666
VCG PROPERTY LIMITED
Notes to the Accounts
for the year ended 29 February 2024
VCG PROPERTY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10619666. The registered office is Old Coach House, Bulls Lane, Salisbury, Wiltshire, SP5 5DJ, England.
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.
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.
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:
Fixtures & fittings
Between 20% and 25% on cost
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.
VCG PROPERTY LIMITED
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 March 2023
406,114
42,199
448,313
At 29 February 2024
406,114
42,199
448,313
At 1 March 2023
-
42,198
42,198
At 29 February 2024
-
42,198
42,198
At 29 February 2024
406,114
1
406,115
At 28 February 2023
406,114
1
406,115
Fair value at 1 March 2023
305,246
At 29 February 2024
305,246
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
6,115
8,590
Loans from directors
227,126
216,879
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
406,716
436,716
Aggregate of amounts that fall due for payment after five years
406,716
436,716
8
Deferred taxation
2024
2023
Revaluation of investment property
4,006
-
Charged to the profit and loss account
4,006
-
Provision at end of year
4,006
-
VCG PROPERTY LIMITED
Notes to the Accounts
for the year ended 29 February 2024
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).