Registered number
13193448
V.E.L. PROPERTY INVESTMENT LTD
Filleted Accounts
28 February 2024
V.E.L. PROPERTY INVESTMENT LTD
Registered number: 13193448
Balance Sheet
as at 28 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 498,096 -
Current assets
Cash at bank and in hand 6,924 100
Creditors: amounts falling due within one year 4 (181,741) -
Net current (liabilities)/assets (174,817) 100
Total assets less current liabilities 323,279 100
Creditors: amounts falling due after more than one year 5 (336,386) -
Net (liabilities)/assets (13,107) 100
Capital and reserves
Called up share capital 100 100
Profit and loss account (13,207) -
Shareholder's funds (13,107) 100
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
V.E Lewis
Director
Approved by the board on 29 November 2024
V.E.L. PROPERTY INVESTMENT LTD
Notes to the Accounts
for the year ended 28 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is rental income received.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investment Property
Investment Property
£
Cost
Additions 498,096
At 28 February 2024 498,096
Depreciation
At 28 February 2024 -
Net book value
At 28 February 2024 498,096
The fair value of the investment property has been arrived on the basis of a valuation carried out by the Director.
The valuation was made on an open market value basis.
4 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 900 -
Director's Loan Account 180,841 -
181,741 -
5 Creditors: amounts falling due after one year 2024 2023
£ £
Mortgage 336,386 -
The mortgage is on an interest only payments hence the capital of £336,386 would be repayable in June 2058.
6 Going concern
The company is supported by loans from the director who has confirmed that such support will be continued in the future.
7 Other information
V.E.L. PROPERTY INVESTMENT LTD is a private company limited by shares and incorporated in England. Its registered office is:
843 Finchley Road
London
NW11 8NA
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