Registered number
11929045
Vive Properties Limited
Filleted Abridged Accounts
30 April 2024
Vive Properties Limited
Registered number: 11929045
Abridged Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 75,613 77,222
Current assets
Stocks 261,760 171,035
Debtors 287 257
Cash at bank and in hand 721 2,028
262,768 173,320
Creditors: amounts falling due within one year (337,972) (249,650)
Net current liabilities (75,204) (76,330)
Net assets 409 892
Capital and reserves
Called up share capital 1 1
Profit and loss account 408 891
Shareholder's funds 409 892
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Simon Wheeldon
Director
Approved by the board on 8 January 2025
Vive Properties Limited
Notes to the Abridged Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover comprises the rent received from residential property owned.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Stocks
Stocks relate to property build costs and are measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Total
£
Cost
At 1 May 2023 80,440
At 30 April 2024 80,440
Depreciation
At 1 May 2023 3,218
Charge for the year 1,609
At 30 April 2024 4,827
Net book value
At 30 April 2024 75,613
At 30 April 2023 77,222
4 Related party transactions
During the year the company received a loan of £800 (2023 -£Nil) from Fluid Capital Investments Ltd (13821785) a company in which Mr S Wheeldon has a controlling interest, the balance outstanding at the year end was £9,800 (2023 - £9,000). During the year the company received a loan of £12,000 (2023 -£Nil) and incurred recharges of £72 (2023 - £Nil) from Nationwide Safety Management Ltd (11068679) a company in which Mr S Wheeldon has a controlling interest, the balance outstanding at the year end was £12,072 (2023 - £Nil).
5 Controlling party
The company is controlled by Simon Wheeldon.
6 Other information
Vive Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Templegate Drive
Leeds
LS15 0HZ
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