Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09284915 Mr Ajith Jayawickrema Anuja Jayawickrema iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09284915 2023-03-31 09284915 2024-03-31 09284915 2023-04-01 2024-03-31 09284915 frs-core:CurrentFinancialInstruments 2024-03-31 09284915 frs-core:Non-currentFinancialInstruments 2024-03-31 09284915 frs-core:FurnitureFittings 2024-03-31 09284915 frs-core:FurnitureFittings 2023-04-01 2024-03-31 09284915 frs-core:FurnitureFittings 2023-03-31 09284915 frs-core:ShareCapital 2024-03-31 09284915 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09284915 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09284915 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09284915 frs-bus:SmallEntities 2023-04-01 2024-03-31 09284915 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09284915 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09284915 frs-bus:Director1 2023-04-01 2024-03-31 09284915 frs-bus:Director2 2023-04-01 2024-03-31 09284915 frs-countries:EnglandWales 2023-04-01 2024-03-31 09284915 2022-03-31 09284915 2023-03-31 09284915 2022-04-01 2023-03-31 09284915 frs-core:CurrentFinancialInstruments 2023-03-31 09284915 frs-core:Non-currentFinancialInstruments 2023-03-31 09284915 frs-core:ShareCapital 2023-03-31 09284915 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 09284915
Victory Green Limited
Financial Statements
For The Year Ended 31 March 2024
Virgate Accounts Ltd
1st Floor Olympus House
Quedgeley
Gloucester
GL2 4NF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09284915
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 50,868 90,196
Investment Properties 5 2,560,000 2,560,000
2,610,868 2,650,196
CURRENT ASSETS
Debtors 6 18,783 3,180
Cash at bank and in hand 234,015 244,246
252,798 247,426
Creditors: Amounts Falling Due Within One Year 7 (105,847 ) (74,926 )
NET CURRENT ASSETS (LIABILITIES) 146,951 172,500
TOTAL ASSETS LESS CURRENT LIABILITIES 2,757,819 2,822,696
Creditors: Amounts Falling Due After More Than One Year 8 (1,913,602 ) (1,951,228 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (206,776 ) (155,584 )
NET ASSETS 637,441 715,884
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 637,341 715,784
SHAREHOLDERS' FUNDS 637,441 715,884
Page 1
Page 2
For the 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.
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ajith Jayawickrema
Director
19/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Victory Green Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09284915 . The registered office is 1st Floor Olympus House, Quedgeley, Gloucester, GL2 4NF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and any rentals written off.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 April 2023 217,882
Additions 2,120
As at 31 March 2024 220,002
Depreciation
As at 1 April 2023 127,686
Provided during the period 41,448
As at 31 March 2024 169,134
Net Book Value
As at 31 March 2024 50,868
As at 1 April 2023 90,196
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 2,560,000
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 10,858 3,067
Other debtors - 113
10,858 3,180
Due after more than one year
Corporation tax recoverable assets 7,925 -
7,925 -
18,783 3,180
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 505 121
Bank loans and overdrafts 3,800 3,800
Corporation tax 799 (7,925 )
Other creditors 41,517 24,692
Accruals and deferred income 54,817 32,683
Directors' loan accounts 4,409 21,555
105,847 74,926
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 255,067 258,868
Other creditors 1,658,535 1,692,360
1,913,602 1,951,228
9. Secured Creditors
Of the bank loans the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 250,000 250,000
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5