2023-04-012024-03-312024-03-31false08926569VITALIS PROPERTY 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VITALIS PROPERTY LIMITED

Registered Number
08926569
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

VITALIS PROPERTY LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

VITALIS, Christopher

Registered Address

Tunstall Studios 34-44 Tunstall Road
Brixton
London
SW9 8DA

Registered Number

08926569 (England and Wales)
VITALIS PROPERTY LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3209278
209278
Current assets
Debtors44,71739,178
Cash at bank and on hand7,42320,222
52,14059,400
Creditors amounts falling due within one year4(26,039)(18,217)
Net current assets (liabilities)26,10141,183
Total assets less current liabilities26,31041,461
Creditors amounts falling due after one year5(41,149)(40,002)
Net assets(14,839)1,459
Capital and reserves
Called up share capital11
Profit and loss account(14,840)1,458
Shareholders' funds(14,839)1,459
The financial statements were approved and authorised for issue by the Director on 29 November 2024, and are signed on its behalf by:
VITALIS, Christopher
Director
Registered Company No. 08926569
VITALIS PROPERTY LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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 fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Vehicles25
2.Average number of employees
The average monthly number of employees (including directors) during the year.

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 April 235482,1372,685
At 31 March 245482,1372,685
Depreciation and impairment
At 01 April 234911,9162,407
Charge for year145569
At 31 March 245051,9712,476
Net book value
At 31 March 2443166209
At 31 March 2357221278
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life: Plant and machinery 18% Reducing Balance Motor vehicles 18% Reducing Balance
4.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts13,291-
Taxation and social security8,8218,821
Other creditors3,9279,396
Total26,03918,217
Short-term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts41,14940,002
Total41,14940,002
Long-term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties When payments are eventually made, they are charged to the provision carried in the balance sheet.