13 true false false false false false false false false false true false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 132,431,799 1,454,929 130,128,511 130,128,511 132,431,799 70,637,632 386,365 69,230,887 69,230,887 70,637,632 xbrli:pure xbrli:shares iso4217:GBP 07114108 2023-05-01 2024-04-30 07114108 2024-04-30 07114108 2023-04-30 07114108 2022-05-01 2023-04-30 07114108 2023-04-30 07114108 2022-04-30 07114108 bus:Consolidated 2023-05-01 2024-04-30 07114108 bus:Director1 2023-05-01 2024-04-30 07114108 bus:Consolidated 2024-04-30 07114108 bus:Consolidated core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07114108 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07114108 core:AfterOneYear bus:Consolidated 2024-04-30 07114108 core:AfterOneYear bus:Consolidated 2023-04-30 07114108 core:AfterOneYear 2024-04-30 07114108 core:AfterOneYear 2023-04-30 07114108 bus:Consolidated 2023-04-30 07114108 bus:Consolidated core:OtherReservesSubtotal 2022-05-01 2023-04-30 07114108 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 07114108 bus:Consolidated 2022-05-01 2023-04-30 07114108 bus:Consolidated core:OtherReservesSubtotal 2023-05-01 2024-04-30 07114108 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 07114108 core:OtherReservesSubtotal 2022-05-01 2023-04-30 07114108 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 07114108 core:OtherReservesSubtotal 2023-05-01 2024-04-30 07114108 core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 07114108 bus:Consolidated core:WithinOneYear 2024-04-30 07114108 bus:Consolidated core:WithinOneYear 2023-04-30 07114108 core:WithinOneYear 2024-04-30 07114108 core:WithinOneYear 2023-04-30 07114108 bus:Consolidated core:ShareCapital 2024-04-30 07114108 bus:Consolidated core:ShareCapital 2023-04-30 07114108 bus:Consolidated core:OtherReservesSubtotal 2024-04-30 07114108 bus:Consolidated core:OtherReservesSubtotal 2023-04-30 07114108 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2024-04-30 07114108 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2023-04-30 07114108 core:ShareCapital 2024-04-30 07114108 core:ShareCapital 2023-04-30 07114108 core:OtherReservesSubtotal 2024-04-30 07114108 core:OtherReservesSubtotal 2023-04-30 07114108 core:RetainedEarningsAccumulatedLosses 2024-04-30 07114108 core:RetainedEarningsAccumulatedLosses 2023-04-30 07114108 bus:Consolidated core:ShareCapital 2022-04-30 07114108 bus:Consolidated core:OtherReservesSubtotal 2022-04-30 07114108 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2022-04-30 07114108 bus:Consolidated 2022-04-30 07114108 core:ShareCapital 2022-04-30 07114108 core:OtherReservesSubtotal 2022-04-30 07114108 core:RetainedEarningsAccumulatedLosses 2022-04-30 07114108 bus:Consolidated core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 07114108 bus:Consolidated core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 07114108 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 07114108 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 07114108 bus:Consolidated 2023-04-30 07114108 bus:Consolidated core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 07114108 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 07114108 bus:SmallEntities 2023-05-01 2024-04-30 07114108 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07114108 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07114108 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07114108 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 07114108
Villa Agencies (Europe) Limited
Filleted Unaudited Consolidated Financial Statements
30 April 2024
Villa Agencies (Europe) Limited
Consolidated Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
130,128,511
132,431,799
Current assets
Debtors
6
11,016,129
11,410,622
Cash at bank and in hand
54,178
143,728
--------------
--------------
11,070,307
11,554,350
Creditors: amounts falling due within one year
7
13,828,742
9,313,943
--------------
--------------
Net current (liabilities)/assets
( 2,758,435)
2,240,407
---------------
---------------
Total assets less current liabilities
127,370,076
134,672,206
Creditors: amounts falling due after more than one year
8
68,888,889
70,683,154
Provisions
14,868,844
15,256,115
---------------
---------------
Net assets
43,612,343
48,732,937
---------------
---------------
Capital and reserves
Called up share capital
2
2
Other reserves
34,693,968
35,597,600
Profit and loss account
8,918,373
13,135,335
--------------
--------------
Shareholders funds
43,612,343
48,732,937
--------------
--------------
These consolidated financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the consolidated income statement has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its consolidated financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of consolidated financial statements .
Villa Agencies (Europe) Limited
Consolidated Statement of Financial Position (continued)
30 April 2024
These consolidated financial statements were approved by the board of directors and authorised for issue on 28 January 2025 , and are signed on behalf of the board by:
Mr Graham Harris
Director
Company registration number: 07114108
Villa Agencies (Europe) Limited
Company Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
69,230,887
70,637,632
Current assets
Debtors
6
12,570,776
12,613,997
Cash at bank and in hand
68,146
59,905
--------------
--------------
12,638,922
12,673,902
Creditors: amounts falling due within one year
7
13,650,722
10,334,682
--------------
--------------
Net current (liabilities)/assets
( 1,011,800)
2,339,220
--------------
--------------
Total assets less current liabilities
68,219,087
72,976,852
Creditors: amounts falling due after more than one year
8
37,051,282
38,016,312
Provisions
6,776,819
6,953,327
--------------
--------------
Net assets
24,390,986
28,007,213
--------------
--------------
Capital and reserves
Called up share capital
2
2
Other reserves
15,812,576
16,224,427
Profit and loss account
8,578,408
11,782,784
--------------
--------------
Shareholders funds
24,390,986
28,007,213
--------------
--------------
The loss for the financial year of the parent company was £ 2,905,275 (2023: £ 1,182,447 ).
These consolidated financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its consolidated financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of consolidated financial statements .
Villa Agencies (Europe) Limited
Company Statement of Financial Position (continued)
30 April 2024
These consolidated financial statements were approved by the board of directors and authorised for issue on 28 January 2025 , and are signed on behalf of the board by:
Mr Graham Harris
Director
Company registration number: 07114108
Villa Agencies (Europe) Limited
Consolidated Statement of Changes in Equity
Year ended 30 April 2024
Called up share capital
Other reserves
Profit and loss account
Total
£
£
£
£
At 1 May 2022
2
35,648,458
14,114,514
49,762,974
Loss for the year
( 1,892,449)
( 1,892,449)
Other comprehensive income for the year:
Foreign currency retranslation
928,492
( 66,081)
862,411
other reserves movement
(979,350)
979,351
1
----
--------------
--------------
--------------
Total comprehensive income for the year
( 50,858)
( 979,179)
( 1,030,037)
At 30 April 2023
2
35,597,600
13,135,335
48,732,937
Loss for the year
( 3,883,528)
( 3,883,528)
Other comprehensive income for the year:
Foreign currency retranslation
( 903,632)
( 333,434)
( 1,237,066)
----
--------------
--------------
--------------
Total comprehensive income for the year
( 903,632)
( 4,216,962)
( 5,120,594)
----
--------------
--------------
--------------
At 30 April 2024
2
34,693,968
8,918,373
43,612,343
----
--------------
--------------
--------------
Villa Agencies (Europe) Limited
Company Statement of Changes in Equity
Year ended 30 April 2024
Called up share capital
Other reserves
Profit and loss account
Total
£
£
£
£
At 1 May 2022
2
15,812,576
13,058,808
28,871,386
Loss for the year
( 1,182,447)
( 1,182,447)
Other comprehensive income for the year:
Foreign currency retranslation
411,851
( 93,577)
318,274
----
--------------
--------------
--------------
Total comprehensive income for the year
411,851
( 1,276,024)
( 864,173)
At 30 April 2023
2
16,224,427
11,782,785
28,007,214
Loss for the year
( 2,905,275)
( 2,905,275)
Other comprehensive income for the year:
Foreign currency retranslation
( 411,851)
( 299,102)
( 710,953)
----
--------------
--------------
--------------
Total comprehensive income for the year
( 411,851)
( 3,204,377)
( 3,616,228)
----
--------------
--------------
--------------
At 30 April 2024
2
15,812,576
8,578,408
24,390,986
----
--------------
--------------
--------------
Villa Agencies (Europe) Limited
Notes to the Consolidated Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Malting Place, 169 Tower Bridge Road, London, England, SE1 3JB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirement of the Companies Act 2006 as applicable to companies subject to the small companies regime.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Disclosure exemptions
The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:
(a) Disclosures in respect of each class of share capital have not been presented.
(b) No cash flow statement has been presented for the company.
(c) Disclosures in respect of financial instruments have not been presented.
(d) No disclosure has been given for the aggregate remuneration of key management personnel.
Consolidation
The financial statements consolidate the financial statements of Villa Agencies (Europe) Limited and all of its associated undertakings. The results of associates acquired or disposed of during the year are included from or to the date that control passes. The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not included its individual statement of comprehensive income.
Revenue recognition
Turnover represents rents received net of sales taxes. Turnover is recognised on a straight line basis across the life of the lease.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Investment Property 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 the reporting end date. Changes in fair value are recognised in profit or loss. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 13 ).
5. Tangible assets
Group
Investment property
£
Cost
At 1 May 2023
132,431,799
Additions
1,454,929
Exchange adjustments
(3,758,217)
---------------
At 30 April 2024
130,128,511
---------------
Depreciation
At 1 May 2023 and 30 April 2024
---------------
Carrying amount
At 30 April 2024
130,128,511
---------------
At 30 April 2023
132,431,799
---------------
Company
Investment property
£
Cost
At 1 May 2023
70,637,632
Additions
386,365
Exchange adjustments
(1,793,110)
---------------
At 30 April 2024
69,230,887
---------------
Depreciation
At 1 May 2023 and 30 April 2024
---------------
Carrying amount
At 30 April 2024
69,230,887
---------------
At 30 April 2023
70,637,632
---------------
The investment property (which is freehold), was valued on an open market basis at 30th April 2024 by the valuers acting for the Lender The valuation was made on behalf of the companies funders.
6. Debtors
Group
Company
2024
2023
2024
2023
£
£
£
£
Trade debtors
1,929,402
370,823
1,929,402
370,823
Other debtors
9,086,727
11,039,799
10,641,374
12,243,174
--------------
--------------
--------------
--------------
11,016,129
11,410,622
12,570,776
12,613,997
--------------
--------------
--------------
--------------
7. Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
£
£
£
£
Social security and other taxes
1,232,737
1,232,737
Other creditors
12,596,005
9,313,943
12,417,985
10,334,682
--------------
-------------
--------------
--------------
13,828,742
9,313,943
13,650,722
10,334,682
--------------
-------------
--------------
--------------
8. Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans and overdrafts
68,888,889
70,683,154
37,051,282
38,016,312
--------------
--------------
--------------
--------------
Bank loans and overdrafts are due between one and two years.
9. Related party transactions
Company
The company has taken advantage of the exemption available under FRS 102 paragraph 33.1a whereby it has not disclosed transactions with any wholly owned subsidiary undertaking of the group. Group Mr G Harris a director of the company, has provided a personal guarantee in respect of part of the indebtedness to the banks which is secured on the freehold of properties held within the group