Company Registration No. 05017771 (England and Wales)
Vickford Properties Ltd
Unaudited accounts
for the year ended 31 January 2024
Vickford Properties Ltd
Unaudited accounts
Contents
Vickford Properties Ltd
Company Information
for the year ended 31 January 2024
Company Number
05017771 (England and Wales)
Registered Office
Calderwood
Knowle Grove
Virginia Water
GU25 4JD
Accountants
RMR Partnership LLP
3rd Floor, Vyman House
104 College Road
Harrow
Middlesex
HA1 1BQ
Vickford Properties Ltd
Statement of financial position
as at 31 January 2024
Inventories
2,267,302
2,505,053
Cash at bank and in hand
341,209
81,477
Creditors: amounts falling due within one year
(219,211)
(198,906)
Net current assets
2,395,013
2,392,873
Total assets less current liabilities
2,395,013
2,392,873
Creditors: amounts falling due after more than one year
(971,339)
(1,214,878)
Net assets
1,423,674
1,177,995
Called up share capital
100
100
Profit and loss account
1,423,574
1,177,895
Shareholders' funds
1,423,674
1,177,995
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 2 December 2024 and were signed on its behalf by
Mrs B Kaur
Director
Company Registration No. 05017771
Vickford Properties Ltd
Notes to the Accounts
for the year ended 31 January 2024
Vickford Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 05017771. The registered office is Calderwood, Knowle Grove, Virginia Water, GU25 4JD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Vickford Properties Ltd
Notes to the Accounts
for the year ended 31 January 2024
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability.
The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument.
The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
Interest payable and similar expenses
During the year interest payable on loans and overdrafts was £45,888.08 (2023: £33,245.56).
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line method
Fixtures & fittings
25% straight line method
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 February 2023
1,495
440
1,935
At 31 January 2024
1,495
440
1,935
At 1 February 2023
1,495
440
1,935
At 31 January 2024
1,495
440
1,935
Vickford Properties Ltd
Notes to the Accounts
for the year ended 31 January 2024
Amounts falling due within one year
Accrued income and prepayments
134
-
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
117,000
117,000
Taxes and social security
79,711
20,719
Other creditors
5,816
3,888
Loans from directors
11,124
54,479
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
971,339
1,214,878
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).