0
01/04/2023
31/03/2024
2024-03-31
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
true
false
No description of principal activities is disclosed
2023-04-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
04708274
2023-04-01
2024-03-31
04708274
2024-03-31
04708274
2023-03-31
04708274
2022-04-01
2023-03-31
04708274
2023-03-31
04708274
2022-03-31
04708274
bus:RegisteredOffice
2023-04-01
2024-03-31
04708274
bus:LeadAgentIfApplicable
2023-04-01
2024-03-31
04708274
bus:Director1
2023-04-01
2024-03-31
04708274
bus:Director2
2023-04-01
2024-03-31
04708274
bus:Director3
2023-04-01
2024-03-31
04708274
bus:Director4
2023-04-01
2024-03-31
04708274
bus:CompanySecretary1
2023-04-01
2024-03-31
04708274
core:WithinOneYear
2024-03-31
04708274
core:WithinOneYear
2023-03-31
04708274
core:LandBuildings
core:LongLeaseholdAssets
2024-03-31
04708274
core:LandBuildings
core:LongLeaseholdAssets
2023-03-31
04708274
core:ShareCapital
2024-03-31
04708274
core:ShareCapital
2023-03-31
04708274
core:HedgingReserve
2024-03-31
04708274
core:HedgingReserve
2023-03-31
04708274
core:RetainedEarningsAccumulatedLosses
2024-03-31
04708274
core:RetainedEarningsAccumulatedLosses
2023-03-31
04708274
core:BetweenOneFiveYears
2024-03-31
04708274
core:BetweenOneFiveYears
2023-03-31
04708274
core:MoreThanFiveYears
2024-03-31
04708274
core:MoreThanFiveYears
2023-03-31
04708274
bus:SmallEntities
2023-04-01
2024-03-31
04708274
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
04708274
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
04708274
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
04708274
bus:FullAccounts
2023-04-01
2024-03-31
04708274
core:EntityControlledByKeyManagementPersonnel1
2023-04-01
2024-03-31
04708274
core:EntityControlledByKeyManagementPersonnel1
2022-04-01
2023-03-31
04708274
core:EntityControlledByKeyManagementPersonnel2
2023-04-01
2024-03-31
04708274
core:EntityControlledByKeyManagementPersonnel3
2023-04-01
2024-03-31
04708274
core:EntityControlledByKeyManagementPersonnel3
2022-04-01
2023-03-31
04708274
core:EntityControlledByKeyManagementPersonnel4
2023-04-01
2024-03-31
04708274
core:EntityControlledByKeyManagementPersonnel4
2022-04-01
2023-03-31
04708274
core:EntityControlledByKeyManagementPersonnel1
2023-03-31
04708274
core:EntityControlledByKeyManagementPersonnel2
2024-03-31
04708274
core:EntityControlledByKeyManagementPersonnel4
2024-03-31
04708274
core:EntityControlledByKeyManagementPersonnel4
2023-03-31
04708274
core:EntityControlledByKeyManagementPersonnel5
2024-03-31
04708274
core:EntityControlledByKeyManagementPersonnel5
2023-04-01
2024-03-31
Company registration number:
04708274
Viabond Limited
Unaudited filleted financial statements
31 March 2024
Viabond Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Viabond Limited
Directors and other information
|
|
|
|
Directors |
Mr M W Seaman-Hill |
|
|
Mr J J Hill |
|
|
Mr T W Shadbolt |
|
|
Mr M A Shadbolt |
|
|
|
|
|
|
|
Secretary |
Mr J J Hill |
|
|
|
|
|
|
|
Company number |
04708274 |
|
|
|
|
|
|
|
Registered office |
First Floor Offices |
|
|
99 Bancroft |
|
|
Hitchin |
|
|
Hertfordshire |
|
|
SG5 1NQ |
|
|
|
|
|
|
|
Accountants |
Hicks and Company |
|
|
Chartered Accountants |
|
|
First Floor |
|
|
99 Bancroft |
|
|
Hitchin |
|
|
Hertfordshire |
|
|
SG5 1NQ |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers |
HSBC |
|
|
1 Market place |
|
|
Hitchin |
|
|
Hertfordshire |
|
|
SG5 1DR |
|
|
|
Viabond Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Viabond Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Viabond Limited for the year ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Viabond Limited, as a body, in accordance with the terms of our engagement letter dated 18 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Viabond Limited and state those matters that we have agreed to state to the board of directors of Viabond Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Viabond Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Viabond Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Viabond Limited. You consider that Viabond 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 financial statements of Viabond 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 financial statements.
Hicks and Company
Chartered Accountants
First Floor
99 Bancroft
Hitchin
Hertfordshire
SG5 1NQ
21 November 2024
Viabond Limited
Statement of financial position
31 March 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
4 |
150,000 |
|
|
|
150,000 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
150,000 |
|
|
|
150,000 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
5 |
12,583 |
|
|
|
7,479 |
|
|
Cash at bank and in hand |
|
|
31,246 |
|
|
|
28,024 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
43,829 |
|
|
|
35,503 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
6 |
(
51,087) |
|
|
|
(
49,404) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
7,258) |
|
|
|
(
13,901) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
142,742 |
|
|
|
136,099 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
142,742 |
|
|
|
136,099 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Fair value reserve |
|
|
|
|
12,928 |
|
|
|
12,928 |
Profit and loss account |
|
|
|
|
129,714 |
|
|
|
123,071 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
142,742 |
|
|
|
136,099 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
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.
Directors responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
21 November 2024
, and are signed on behalf of the board by:
Mr J J Hill
Mr T W Shadbolt
Director
Director
Company registration number:
04708274
Viabond Limited
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is First Floor Offices, 99 Bancroft, Hitchin, Hertfordshire, SG5 1NQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Turnover
Turnover represents the rents of property which are included on an accruals basis excluding value added tax.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4.
Tangible assets
|
|
Long leasehold investment property |
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
|
|
Valuation |
|
|
|
|
|
|
|
|
At 1 April 2023 and 31 March 2024 |
150,000 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2024 |
150,000 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
At 31 March 2023 |
150,000 |
|
|
|
|
|
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment property
The fair value of the long leasehold investment property has been arrived at on the basis of a valuation carried out by the directors of the company
. The valuation was made on an open market value basis for existing use
on 31 March 2024.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
|
|
|
|
|
|
|
|
|
|
|
Long leasehold investment property |
Total |
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
At 31 March 2024 |
|
|
|
|
|
|
|
|
Aggregate cost |
137,072 |
137,072 |
|
|
|
|
|
|
Aggregate depreciation |
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
137,072 |
137,072 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 March 2023 |
|
|
|
|
|
|
|
|
Aggregate cost |
137,072 |
137,072 |
|
|
|
|
|
|
Aggregate depreciation |
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
Carrying amount |
137,072 |
137,072 |
|
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Rent arrears |
|
3,500 |
7,000 |
|
Other debtors |
|
9,083 |
479 |
|
|
|
_______ |
_______ |
|
|
|
12,583 |
7,479 |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Amounts owed to group undertaking |
|
45,008 |
45,008 |
|
Corporation tax |
|
1,558 |
776 |
|
Social security and other taxes |
|
583 |
- |
|
Other creditors |
|
3,938 |
3,620 |
|
|
|
_______ |
_______ |
|
|
|
51,087 |
49,404 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
Not later than 1 year |
1 |
1 |
Later than 1 year and not later than 5 years |
4 |
4 |
Later than 5 years |
73 |
74 |
|
_______ |
_______ |
|
78 |
79 |
|
_______ |
_______ |
|
|
|
8.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2024 |
2023 |
2024 |
2023 |
|
|
£ |
£ |
£ |
£ |
|
Messrs John Shilcock - Rent collection fees |
- |
1,200 |
- |
1,100 |
|
John Shilcock Limited - Rent collection fees |
1,200 |
- |
1,517 |
- |
|
Messrs John Shilcock - Management fees |
- |
(
1,200) |
- |
- |
|
Walnut Tree Holdings Limited - Professional fees |
1,200 |
1,200 |
1,200 |
1,200 |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
At 31 March 2024 £
9,083
(2023 -) was owed to the company by John Shilcock Limited
, a company in which certain directors have an interest. The amount owed represents net rents collected by John Shilcock Limited as managing agents, retained to cover future expenses
. The amount is unsecured, interest free and repayable on demand.
9.
Controlling party
In the opinion of the directors the parent undertaking of the company is Hitchin Arcade Limited, a company incorporated in England and Wales, registered number 00639050, registered office First Floor Offices, 99 Bancroft, Hitchin, Hertfordshire. SG5 1NQ.