Company Registration No. 04745955 (England and Wales)
VICTORIA BUILDING COMPANY LIMITED
Unaudited accounts
for the year ended 30 April 2024
VICTORIA BUILDING COMPANY LIMITED
Unaudited accounts
Contents
VICTORIA BUILDING COMPANY LIMITED
Company Information
for the year ended 30 April 2024
Directors
Mr C Gray
Mr N Gray
Mr S Gray
Company Number
04745955 (England and Wales)
Registered Office
10 New Street
Ossett
West Yorkshire
WF5 8BH
England
Accountants
Clear Accountancy Services (Yorkshire) Ltd
10 New Street
Ossett
West Yorkshire
WF5 8BH
VICTORIA BUILDING COMPANY LIMITED
Statement of financial position
as at 30 April 2024
Tangible assets
16,593
19,521
Investment property
125,000
125,000
Cash at bank and in hand
107,997
71,239
Creditors: amounts falling due within one year
(69,481)
(65,822)
Net current assets
68,196
47,196
Total assets less current liabilities
209,789
191,717
Creditors: amounts falling due after more than one year
(111,892)
(115,642)
Provisions for liabilities
Other provisions
(1,528)
(1,528)
Called up share capital
800
800
Profit and loss account
95,569
73,747
Shareholders' funds
96,369
74,547
For the year ending 30 April 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 directors acknowledge their 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 of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by
Mr C Gray
Director
Company Registration No. 04745955
VICTORIA BUILDING COMPANY LIMITED
Notes to the Accounts
for the year ended 30 April 2024
VICTORIA BUILDING COMPANY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04745955. The registered office is 10 New Street, Ossett, West Yorkshire, WF5 8BH, England.
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.
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.
The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.
At the time of signing these accounts, having considered the economic climate, the Directors expectations and intentions for the next twelve months, and the availability of working capital, the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.
Turnover represents revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax.
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.
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
15% on reducing balance
Motor vehicles
15% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
33.3% on reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
VICTORIA BUILDING COMPANY LIMITED
Notes to the Accounts
for the year ended 30 April 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 May 2023
7,472
43,258
5,167
2,483
58,380
At 30 April 2024
7,472
43,258
5,167
2,483
58,380
At 1 May 2023
6,676
24,733
4,967
2,483
38,859
Charge for the year
119
2,779
30
-
2,928
At 30 April 2024
6,795
27,512
4,997
2,483
41,787
At 30 April 2024
677
15,746
170
-
16,593
At 30 April 2023
796
18,525
200
-
19,521
Fair value at 1 May 2023
125,000
VICTORIA BUILDING COMPANY LIMITED
Notes to the Accounts
for the year ended 30 April 2024
Amounts falling due within one year
Amounts due from group undertakings etc.
20,529
20,529
Accrued income and prepayments
1,348
1,643
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
3,230
3,230
Trade creditors
23,368
31,593
Taxes and social security
23,769
19,327
Other creditors
2,282
2,309
Loans from directors
1,000
929
9
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
111,892
115,642
10
Average number of employees
During the year the average number of employees was 6 (2023: 6).