0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 845,580 186,978 67,151 252,286 1,217,693 1,217,693 845,580 xbrli:pure xbrli:shares iso4217:GBP 11679015 2022-12-01 2023-11-29 11679015 2023-11-29 11679015 2022-11-30 11679015 2021-12-01 2022-11-30 11679015 2022-11-30 11679015 2021-11-30 11679015 bus:Director1 2022-12-01 2023-11-29 11679015 core:LandBuildings core:LongLeaseholdAssets 2022-12-01 2023-11-29 11679015 core:WithinOneYear 2023-11-29 11679015 core:WithinOneYear 2022-11-30 11679015 core:AfterOneYear 2023-11-29 11679015 core:AfterOneYear 2022-11-30 11679015 core:ShareCapital 2023-11-29 11679015 core:ShareCapital 2022-11-30 11679015 core:RetainedEarningsAccumulatedLosses 2023-11-29 11679015 core:RetainedEarningsAccumulatedLosses 2022-11-30 11679015 core:UKTax 2021-12-01 2022-11-30 11679015 core:LandBuildings core:LongLeaseholdAssets 2023-11-29 11679015 core:LandBuildings core:LongLeaseholdAssets 2022-11-30 11679015 core:LandBuildings core:LongLeaseholdAssets 2022-11-30 11679015 bus:SmallEntities 2022-12-01 2023-11-29 11679015 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-29 11679015 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-29 11679015 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-29 11679015 bus:FullAccounts 2022-12-01 2023-11-29
COMPANY REGISTRATION NUMBER: 11679015
VICTOR CHARLES HOMES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
29 November 2023
VICTOR CHARLES HOMES LIMITED
STATEMENT OF FINANCIAL POSITION
29 November 2023
29 Nov 23
30 Nov 22
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
1,217,693
845,580
CURRENT ASSETS
Debtors
6
78,941
38,766
Cash at bank and in hand
1,121
2,341
--------
--------
80,062
41,107
CREDITORS: amounts falling due within one year
7
( 122,862)
( 65,594)
---------
--------
NET CURRENT LIABILITIES
( 42,800)
( 24,487)
------------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,174,893
821,093
CREDITORS: amounts falling due after more than one year
8
( 901,591)
( 744,368)
------------
---------
NET ASSETS
273,302
76,725
------------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
273,202
76,625
---------
--------
SHAREHOLDERS FUNDS
273,302
76,725
---------
--------
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.
For the period ending 29 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
VICTOR CHARLES HOMES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 November 2023
These financial statements were approved by the board of directors and authorised for issue on 26 November 2024 , and are signed on behalf of the board by:
N C Statman
Director
Company registration number: 11679015
VICTOR CHARLES HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 DECEMBER 2022 TO 29 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, West Yorkshire, LS1 4DJ, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have been prepared on the going concern basis. The director considers the going concern basis to be appropriate as he has confirmed his ongoing support.
Revenue recognition
Turnover comprises revenue recognised by the Company in respect of rental income received exclusive of Value Added Tax.
Income tax
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its open market value at each reporting date and any changes in value are recognised in the statement of income and retained earnings.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. TAX ON PROFIT/(LOSS)
Major components of tax income
Period from
1 Dec 22 to
Year to
29 Nov 23
30 Nov 22
£
£
Current tax:
Adjustments in respect of prior periods
( 2,841)
----
-------
Tax on profit/(loss)
( 2,841)
----
-------
5. TANGIBLE ASSETS
Investment Property
£
Cost or valuation
At 1 December 2022
845,580
Additions
186,978
Disposals
( 67,151)
Revaluations
252,286
------------
At 29 November 2023
1,217,693
------------
Depreciation
At 1 December 2022 and 29 November 2023
------------
Carrying amount
At 29 November 2023
1,217,693
------------
At 30 November 2022
845,580
------------
The market values of investment properties held as at 29th November 2023 have been calculated by the director, and have been valued at open market value.
6. DEBTORS
29 Nov 23
30 Nov 22
£
£
Other debtors
78,941
38,766
--------
--------
7. CREDITORS: amounts falling due within one year
29 Nov 23
30 Nov 22
£
£
Bank loans and overdrafts
6,555
6,555
Corporation tax
381
Amounts due to related companies
45,238
16,409
Other creditors
71,069
42,249
---------
--------
122,862
65,594
---------
--------
8. CREDITORS: amounts falling due after more than one year
29 Nov 23
30 Nov 22
£
£
Bank loans and overdrafts
901,591
744,368
---------
---------
9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES