Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3127true2023-04-01falseManagement of real estate on a fee or contract basis30trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09441762 2023-04-01 2024-03-31 09441762 2022-04-01 2023-03-31 09441762 2024-03-31 09441762 2023-03-31 09441762 c:Director1 2023-04-01 2024-03-31 09441762 d:MotorVehicles 2023-04-01 2024-03-31 09441762 d:MotorVehicles 2024-03-31 09441762 d:MotorVehicles 2023-03-31 09441762 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09441762 d:FurnitureFittings 2023-04-01 2024-03-31 09441762 d:FurnitureFittings 2024-03-31 09441762 d:FurnitureFittings 2023-03-31 09441762 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09441762 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09441762 d:CurrentFinancialInstruments 2024-03-31 09441762 d:CurrentFinancialInstruments 2023-03-31 09441762 d:Non-currentFinancialInstruments 2024-03-31 09441762 d:Non-currentFinancialInstruments 2023-03-31 09441762 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09441762 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09441762 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09441762 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09441762 d:ShareCapital 2024-03-31 09441762 d:ShareCapital 2023-03-31 09441762 d:RetainedEarningsAccumulatedLosses 2024-03-31 09441762 d:RetainedEarningsAccumulatedLosses 2023-03-31 09441762 c:FRS102 2023-04-01 2024-03-31 09441762 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09441762 c:FullAccounts 2023-04-01 2024-03-31 09441762 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09441762 2 2023-04-01 2024-03-31 09441762 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 09441762









VANGUARD DIRECT (BHAM) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
VANGUARD DIRECT (BHAM) LIMITED
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF VANGUARD DIRECT (BHAM) LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vanguard Direct (Bham) Limited for the year ended 31 March 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of Vanguard Direct (Bham) Limited in accordance with the terms of our engagement letter dated 25 December 2024Our work has been undertaken solely to prepare for your approval the financial statements of Vanguard Direct (Bham) Limited and state those matters that we have agreed to state to the director of Vanguard Direct (Bham) Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vanguard Direct (Bham) Limited and its director for our work or for this report. 

It is your duty to ensure that Vanguard Direct (Bham) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vanguard Direct (Bham) Limited. You consider that Vanguard Direct (Bham) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Vanguard Direct (Bham) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Fraser Russell Limited
 
77 Francis Road
Edgbaston
Birmingham
B16 8SP
25 December 2024
Page 1

 
VANGUARD DIRECT (BHAM) LIMITED
REGISTERED NUMBER: 09441762

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
22,151
10,232

  
22,151
10,232

Current assets
  

Debtors: amounts falling due within one year
 5 
623,286
218,800

Cash at bank and in hand
 6 
394,559
418,086

  
1,017,845
636,886

Creditors: amounts falling due within one year
 7 
(539,430)
(229,269)

Net current assets
  
 
 
478,415
 
 
407,617

Total assets less current liabilities
  
500,566
417,849

Creditors: amounts falling due after more than one year
 8 
(12,996)
(21,169)

  

Net assets
  
487,570
396,680


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
487,569
396,679

  
487,570
396,680


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 December 2024.

Page 2

 
VANGUARD DIRECT (BHAM) LIMITED
REGISTERED NUMBER: 09441762
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024




Saghwat Hussain
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
VANGUARD DIRECT (BHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Vanguard Direct (Bham) Limited is a company limited by shares incorporated in England within the United Kingdom, having a registration number of 09441762. The address of the registered office is 77 Francis Road, Edgbaston, Birmingham, B16 8SP. The principal activity of the company in the year under review was that of management of real estate on a fee or contract basis.
The financial statements are presented in pound sterling which is functional currency of the company and
rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statments are set out
below. These policies have been consistantly applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the
company will continue to receive support from creditors and the directors as and when required.

Page 4

 
VANGUARD DIRECT (BHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
VANGUARD DIRECT (BHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
Fixtures and fittings
-
10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
VANGUARD DIRECT (BHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2023 - 27).

Page 7

 
VANGUARD DIRECT (BHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
-
15,369
15,369


Additions
17,941
-
17,941



At 31 March 2024

17,941
15,369
33,310



Depreciation


At 1 April 2023
-
5,137
5,137


Charge for the year on owned assets
4,485
1,537
6,022



At 31 March 2024

4,485
6,674
11,159



Net book value



At 31 March 2024
13,456
8,695
22,151



At 31 March 2023
-
10,232
10,232


5.


Debtors

2024
2023
£
£


Other debtors
623,286
218,800

623,286
218,800



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
394,559
418,086

Less: bank overdrafts
(31,718)
-

362,841
418,086


Page 8

 
VANGUARD DIRECT (BHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
31,718
-

Bank loans
10,825
10,752

Corporation tax
158,765
146,946

Other taxation and social security
49,323
20,412

Other creditors
88,799
1,159

Accruals and deferred income
200,000
50,000

539,430
229,269



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,996
21,169

12,996
21,169


Page 9

 
VANGUARD DIRECT (BHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Related party transactions

Mr Saghwat Hussain is also the director and shareholder of Three Investments Limited.
During the period, the company provided a loan of £142,876 to Three Investments Limitedl. As at the balance sheet date, the company was owed £142,876 (2023: £Nil) to Three Investments Limited, which is shown in other debtors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the
value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.

Mr Saghwat Hussain is also the director and shareholder of Vanguard Supported Housing CIC.
During the period, Vanguard Supported Housing CIC provided a loan of £88,106 to the company. As at the balance sheet date, the company owed £88,106 (2023: £Nil) to Vanguard Supported Housing CIC, which is shown in other creditors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the
value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.

Mr Saghwat Hussain is also the director and shareholder of Firfield Fox Limited.
During the period, the company provided a loan of £296,000 to Firfield Fox Limited. As at the balance sheet date, the company was owed £398,000 (2023: £102,000) from Firfield Fox Limited, which is shown in other creditors due within one year.
The above balance is payable on demand and therefore there are no significant differences between the
value of the original loan amount and the initial carrying value of the loan as shown in the balance sheet.


10.


Controlling party

During the year, the company was under the control of the sole shareholder and director, Saghwat
Hussain.

 
Page 10