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Registration number: 12461678

Vesta Property Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Vesta Property Solutions Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Vesta Property Solutions Ltd

Company Information

Director

Ms Nichola Marie Hodgkins

Registered office

Arquen House
4-6 Spicer Street
St. Albans
Herts
AL3 4PQ

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Vesta Property Solutions Ltd

(Registration number: 12461678)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

32,063

6,672

Current assets

 

Debtors

6

60,733

50,345

Cash at bank and in hand

 

26,194

3,963

 

86,927

54,308

Creditors: Amounts falling due within one year

7

(19,607)

(6,369)

Net current assets

 

67,320

47,939

Total assets less current liabilities

 

99,383

54,611

Creditors: Amounts falling due after more than one year

7

(104,626)

(50,626)

Net (liabilities)/assets

 

(5,243)

3,985

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(6,243)

2,985

Shareholders' (deficit)/funds

 

(5,243)

3,985

For the financial year ending 29 February 2024 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 7 November 2024
 

.........................................
Ms Nichola Marie Hodgkins
Director

 

Vesta Property Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Arquen House
4-6 Spicer Street
St. Albans
Herts
AL3 4PQ

These financial statements were authorised for issue by the director on 7 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Vesta Property Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

15 % Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Loss/profit before tax

Arrived at after charging/(crediting)

 

Vesta Property Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

4

Profit before tax (continued)

2024
£

2023
£

Depreciation expense

2,191

1,248

 

Vesta Property Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

8,846

-

8,846

Additions

2,660

25,372

28,032

Disposals

(600)

-

(600)

At 29 February 2024

10,906

25,372

36,278

Depreciation

At 1 March 2023

2,174

-

2,174

Charge for the year

1,345

846

2,191

Eliminated on disposal

(150)

-

(150)

At 29 February 2024

3,369

846

4,215

Carrying amount

At 29 February 2024

7,537

24,526

32,063

At 28 February 2023

6,672

-

6,672

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

-

15,318

Amounts owed by related parties

52,221

29,751

Prepayments

 

312

326

Other debtors

 

8,200

4,950

   

60,733

50,345

7

Creditors

Creditors: amounts falling due within one year

 

Vesta Property Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

7

Creditors (continued)

2024
£

2023
£

Due within one year

Trade creditors

1,488

1,232

Taxation and social security

2,936

2,936

Accruals and deferred income

1,093

1,903

Other creditors

14,090

298

19,607

6,369

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

104,626

50,626

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

50,626

50,626

Other borrowings

54,000

-

104,626

50,626

9

Dividends

2024

2023

£

£

Interim dividend of £Nil (2023 - £16,000.00) per ordinary share

-

16,000