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COMPANY REGISTRATION NUMBER: 02422724
Vickery & Company Limited
Filleted Unaudited Financial Statements
31 December 2023
Vickery & Company Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Accounting policies
4
Notes to the financial statements
6
Vickery & Company Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Vickery & Company Limited
Year ended 31 December 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
BODDINGTON & COMPANY LIMITED Chartered Certified Accountants
3 Churchmeadows Bulford Road Shipton Bellinger Tidworth Hampshire SP9 7RL
3 December 2024
Vickery & Company Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
716,133
764,615
Investments
5
100
100
---------
---------
716,233
764,715
Current assets
Debtors
6
132,106
169,992
Cash at bank and in hand
285,914
438,147
---------
---------
418,020
608,139
Creditors: amounts falling due within one year
7
173,297
203,868
---------
---------
Net current assets
244,723
404,271
---------
------------
Total assets less current liabilities
960,956
1,168,986
Provisions
Taxation including deferred tax
4,575
10,035
---------
------------
Net assets
956,381
1,158,951
---------
------------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
955,381
1,157,951
---------
------------
Shareholders funds
956,381
1,158,951
---------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Vickery & Company Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 2 December 2024 , and are signed on behalf of the board by:
Mr J. P. Vickery
Director
Company registration number: 02422724
Vickery & Company Limited
Accounting Policies
Year ended 31 December 2023
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
Advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company. Disclosures in respect of financial instruments have not been presented.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover, which is stated net of Value Added Tax, from estate agency services is recognised as income on exchange of contracts and from property management when the service is provided.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Leasehold property
-
evenly over duration of lease
Fixtures & fittings
-
10 - 33.3% Straight line
Motor Vehicles
-
25% reducing balance
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Vickery & Company Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 75/79 Park Street, Camberley, Surrey, GU15 3PE, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 28 (2022: 31 ).
4. Tangible assets
Freehold property
Long leasehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
616,910
273,206
725,920
18,250
1,634,286
Additions
281
281
---------
---------
---------
--------
------------
At 31 December 2023
616,910
273,206
726,201
18,250
1,634,567
---------
---------
---------
--------
------------
Depreciation
At 1 January 2023
95,410
116,271
650,190
7,800
869,671
Charge for the year
15,600
7,122
23,341
2,700
48,763
---------
---------
---------
--------
------------
At 31 December 2023
111,010
123,393
673,531
10,500
918,434
---------
---------
---------
--------
------------
Carrying amount
At 31 December 2023
505,900
149,813
52,670
7,750
716,133
---------
---------
---------
--------
------------
At 31 December 2022
521,500
156,935
75,730
10,450
764,615
---------
---------
---------
--------
------------
5. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
100
----
Impairment
At 1 January 2023 and 31 December 2023
----
Carrying amount
At 31 December 2023
100
----
At 31 December 2022
100
----
6. Debtors
2023
2022
£
£
Trade debtors
26,646
83,769
Other debtors
105,460
86,223
---------
---------
132,106
169,992
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
41,611
32,768
Amounts owed to group undertakings and undertakings in which the company has a participating interest
100
100
Other creditors
131,586
171,000
---------
---------
173,297
203,868
---------
---------