Registered number
11917326
VKM REALTY LIMITED
Filleted Accounts
31 March 2024
VKM REALTY LIMITED
Registered number: 11917326
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investment Properties 3 202,896 202,896
Current assets
Debtors 4 18,341 16,490
Cash at bank and in hand 719 774
19,060 17,264
Creditors: amounts falling due within one year 5 (34,768) (28,989)
Net current liabilities (15,708) (11,725)
Total assets less current liabilities 187,188 191,171
Creditors: amounts falling due after more than one year 6 (155,351) (159,915)
Net assets 31,837 31,256
Capital and reserves
Profit and loss account 31,837 31,256
Shareholders' funds 31,837 31,256
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
VIVAKE KUMAR MEHRA
Director
Approved by the board on 14 January 2025
VKM REALTY LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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 0 0
3 Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at reporting end date. Changes if any in the fair value are recognised in profit and loss.
2024
£
Fair value
At 1 April 2023 202,896
Additional -
Disposal -
At 31 March 2024 202,896
4 Debtors 2024 2023
£ £
Trade debtors 18,341 16,490
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,556 9,436
Trade creditors 3,900 799
Taxation and social security costs 15,732 13,916
Other creditors 7,580 4,838
34,768 28,989
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 115,315 118,134
Other creditors 40,036 41,781
155,351 159,915
7 Other information
VKM REALTY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
ACE HOUSE
22 CHESTER ROAD
SUTTON COLDFIELD
ENGLAND
B73 5DA
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