IRIS Accounts Production v24.3.0.553 11909382 director 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh119093822023-03-31119093822024-03-31119093822023-04-012024-03-31119093822022-03-31119093822022-04-012023-03-31119093822023-03-3111909382ns15:EnglandWales2023-04-012024-03-3111909382ns14:PoundSterling2023-04-012024-03-3111909382ns10:Director12023-04-012024-03-3111909382ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3111909382ns10:SmallEntities2023-04-012024-03-3111909382ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3111909382ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3111909382ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111909382ns10:FullAccounts2023-04-012024-03-3111909382ns10:RegisteredOffice2023-04-012024-03-3111909382ns5:CurrentFinancialInstruments2024-03-3111909382ns5:CurrentFinancialInstruments2023-03-3111909382ns5:Non-currentFinancialInstruments2024-03-3111909382ns5:Non-currentFinancialInstruments2023-03-3111909382ns5:ShareCapital2024-03-3111909382ns5:ShareCapital2023-03-3111909382ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3111909382ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3111909382ns5:RetainedEarningsAccumulatedLosses2024-03-3111909382ns5:RetainedEarningsAccumulatedLosses2023-03-3111909382ns5:PlantMachinery2023-03-3111909382ns5:PlantMachinery2023-04-012024-03-3111909382ns5:PlantMachinery2024-03-3111909382ns5:PlantMachinery2023-03-3111909382ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3111909382ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3111909382ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-31
REGISTERED NUMBER: 11909382 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

VERY HOT PROPERTIES LIMITED

VERY HOT PROPERTIES LIMITED (REGISTERED NUMBER: 11909382)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VERY HOT PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr P I Harrison





REGISTERED OFFICE: C/O Christian Douglass Accountants Ltd
2 Jordan Street
Knott Mill
Manchester
Greater Manchester
M15 4PY





REGISTERED NUMBER: 11909382 (England and Wales)





ACCOUNTANTS: Christian Douglass Accountants Limited
Chartered Accountants
2 Jordan Street
Knott Mill
Manchester
M15 4PY

VERY HOT PROPERTIES LIMITED (REGISTERED NUMBER: 11909382)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 753 1,661
Investment property 5 918,884 918,884
919,637 920,545

CURRENT ASSETS
Debtors 6 55,747 37,303
Cash at bank 36,009 86,062
91,756 123,365
CREDITORS
Amounts falling due within one year 7 30,913 34,563
NET CURRENT ASSETS 60,843 88,802
TOTAL ASSETS LESS CURRENT
LIABILITIES

980,480

1,009,347

CREDITORS
Amounts falling due after more than one year 8 (122,236 ) (136,534 )

PROVISIONS FOR LIABILITIES (116,545 ) (117,607 )
NET ASSETS 741,699 755,206

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 10 352,411 351,576
Retained earnings 389,287 403,629
SHAREHOLDERS' FUNDS 741,699 755,206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

VERY HOT PROPERTIES LIMITED (REGISTERED NUMBER: 11909382)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 December 2024 and were signed by:





Mr P I Harrison - Director


VERY HOT PROPERTIES LIMITED (REGISTERED NUMBER: 11909382)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Very Hot Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 11909382 and its registered office is at 2 Jordan Street, Knott Mill, Manchester, M15 4PY.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Rental income is recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

VERY HOT PROPERTIES LIMITED (REGISTERED NUMBER: 11909382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 2,906
DEPRECIATION
At 1 April 2023 1,245
Charge for year 908
At 31 March 2024 2,153
NET BOOK VALUE
At 31 March 2024 753
At 31 March 2023 1,661

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 918,884
NET BOOK VALUE
At 31 March 2024 918,884
At 31 March 2023 918,884

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 41,263
Valuation in 2022 365,000
Valuation in 2023 59,164
Cost 453,457
918,884

At the balance sheet date investment properties were stated at fair value as determined by the director.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 8,416 1,494
Other debtors 47,331 35,809
55,747 37,303

VERY HOT PROPERTIES LIMITED (REGISTERED NUMBER: 11909382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 14,298 13,532
Trade creditors 3,365 1,633
Taxation and social security 10,164 7,338
Other creditors 3,086 12,060
30,913 34,563

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 122,236 136,534

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 60,978 76,885

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loan 131,203 142,733

Reporting entity bank borrowings are secured by fixed and floating charges against the company's assets.

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023 351,576
Revaluation surplus 835

At 31 March 2024 352,411

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is In-Fill Design (Holdings) Limited.