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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
Page
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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
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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
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VCG PROPERTY LIMITED Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
406,115 
406,115 
Investment property
305,246 
305,246 
711,361 
711,361 
Current assets
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
Deferred tax
(4,006)
- 
Net assets
71,541 
51,727 
Capital and reserves
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
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VCG PROPERTY LIMITED Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
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 taxation
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.
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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 
Depreciation
At 1 March 2023
- 
42,198 
42,198 
At 29 February 2024
- 
42,198 
42,198 
Net book value
At 29 February 2024
406,114 
1 
406,115 
At 28 February 2023
406,114 
1 
406,115 
5
Investment property
2024 
£ 
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 
Accruals
420 
420 
233,661 
225,889 
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 
- 
2024 
2023 
£ 
£ 
Charged to the profit and loss account
4,006 
- 
Provision at end of year
4,006 
- 
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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).
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