Company Registration No. 02636334 (England and Wales)
VERULAM COURT LIMITED
ABRIDGED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
VERULAM COURT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
VERULAM COURT LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
98,852
98,852
Current assets
Debtors
5
13,507
12,298
Cash at bank and in hand
319,089
296,420
332,596
308,718
Creditors: amounts falling due within one year
6
(245,572)
(235,337)
Net current assets
87,024
73,381
Net assets
185,876
172,233
Capital and reserves
Called up share capital
76,000
76,000
Share premium account
4,200
4,200
Profit and loss reserves
105,676
92,033
Total equity
185,876
172,233
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 8 August 2024 and are signed on its behalf by:
SM Bukhari
Director
Company registration number 02636334 (England and Wales)
VERULAM COURT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information
Verulam Court Limited is a private company limited by shares incorporated in England and Wales. The registered office is Balfour House, 741 High Road, Finchley, London, N12 0BP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold property
Nil depreciation
1.3
Taxation
Current tax
The tax expense represents the sum of the tax currently payable and deferred tax.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
5
3
Dividends
2024
2023
£
£
Final proposed
6,400
6,650
VERULAM COURT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 3 -
4
Tangible fixed assets
Leasehold property
£
Cost
At 1 March 2023 and 28 February 2024
98,852
Depreciation and impairment
At 1 March 2023 and 28 February 2024
Carrying amount
At 28 February 2024
98,852
At 28 February 2023
98,852
The leasehold property (210 Verulam Court) which is recorded at cost, has a current market value of £400,000, based on recent market transactions on arm's length terms for similar properties.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,515
5,593
Other debtors
2,492
2,205
Prepayments
4,500
4,500
13,507
12,298
6
Creditors: amounts falling due within one year
2024
2023
£
£
Lease extension account
227,754
219,554
Corporation tax
2,014
Dividends payable
9,050
9,050
Other creditors
5,580
5,580
Accruals
1,174
1,153
245,572
235,337