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Registered Number: 12409754
England and Wales

 

 

 

VETERAN PROPERTY INVESTMENTS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Veteran Property Investments Ltd for the year ended 31 January 2024.       
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Veteran Property Investments Ltd for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Veteran Property Investments Ltd, as a body, in accordance with the terms of our engagement letter dated 27 January 2025. Our work has been undertaken solely to prepare for your approval the accounts of Veteran Property Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Veteran Property Investments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Veteran Property Investments Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Veteran Property Investments Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Veteran Property Investments Ltd. You consider that Veteran Property Investments Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Veteran Property Investments Ltd. 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 accounts
31 January 2024



....................................................
aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
United kingdom
PE1 2DU
27 January 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 150,122    150,144 
150,122    150,144 
Current assets      
Debtors 212    932 
Cash at bank and in hand 2,668    8,304 
2,880    9,236 
Creditors: amount falling due within one year (17,614)   (30,901)
Net current assets (14,734)   (21,665)
 
Total assets less current liabilities 135,388    128,479 
Creditors: amount falling due after more than one year (100,003)   (100,000)
Provisions for liabilities (5,239)   (5,239)
Net assets 30,146    23,240 
 

Capital and reserves
     
Called up share capital 4 1    1 
Reserves 5 22,193    22,193 
Profit and loss account 7,952    1,046 
Shareholders' funds 30,146    23,240 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement 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).
The financial statements were approved by the director on 27 January 2025 and were signed by:


-------------------------------
Daryn Shayne Mullen
Director
2
General Information
Veteran Property Investments Ltd is a private company, limited by shares, registered in England and Wales, registration number 12409754, registration address 3 Lyndhurst Road, Nottingham, Nottinghamshire, NG2 4FW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees including directors

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Investment properties   Total
  £   £   £
At 01 February 2023 169    150,000    150,169 
Additions    
Disposals    
At 31 January 2024 169    150,000    150,169 
Depreciation
At 01 February 2023 25      25 
Charge for year 22      22 
On disposals    
At 31 January 2024 47      47 
Net book values
Closing balance as at 31 January 2024 122    150,000    150,122 
Opening balance as at 01 February 2023 144    150,000    150,144 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Class A share of £1.00 each  
 

3