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Registered number: 07131867
V.P.Property Development Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Stephen Hill Partnership Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07131867
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,912 4,060
2,912 4,060
CURRENT ASSETS
Debtors 5 23,576 23,576
Cash at bank and in hand 2,182 15,360
25,758 38,936
Creditors: Amounts Falling Due Within One Year 6 (52,462 ) (69,664 )
NET CURRENT ASSETS (LIABILITIES) (26,704 ) (30,728 )
TOTAL ASSETS LESS CURRENT LIABILITIES (23,792 ) (26,668 )
Creditors: Amounts Falling Due After More Than One Year 7 (24,057 ) (36,588 )
NET LIABILITIES (47,849 ) (63,256 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (47,850 ) (63,257 )
SHAREHOLDERS' FUNDS (47,849) (63,256)
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms Marianna Somosiova
Director
29th November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
V.P.Property Development Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07131867 . The registered office is 139-141 Watling Street, Gillingham, Kent, ME7 2YY.
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.
The accounts have been prepared on the basis of going concern.  This basis may not be appropriate because the company had, at 31st January 2024, net liabilities of £47,849 (2023 £63,256).  The validity of the going concern basis is dependent upon the continued support of the company's directors and ordinary creditors.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying value amount and are recognised in the Income Statement.
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Reducing Balance
2.4. Debtors
 Short term debtors are measured at transaction price, less any impairment.
2.5. Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial instruments.
2.6. Creditors
Short term creditors are measured at the transaction price.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 7,000 331 3,399 10,730
As at 31 January 2024 7,000 331 3,399 10,730
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 February 2023 4,785 145 1,740 6,670
Provided during the period 554 46 548 1,148
As at 31 January 2024 5,339 191 2,288 7,818
Net Book Value
As at 31 January 2024 1,661 140 1,111 2,912
As at 1 February 2023 2,215 186 1,659 4,060
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 23,576 23,576
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 1,904
Other creditors 52,437 64,805
Taxation and social security 25 2,955
52,462 69,664
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 24,057 36,588
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4