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Registration number: 11070961

Blessing Victorious Property Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 November 2024

 

Blessing Victorious Property Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 7

 

Blessing Victorious Property Ltd

Company Information

Directors

 

Ms T B A Ojan

Mrs V Ojan

Registered office



 

119 Ramsay Road
Forest Gate
London
E7 9EP

Accountants

SDT Accounting and Taxation Services Ltd
Chartered Certified Accountant
26 Beechwood Avenue
Chatham
Kent
ME5 7HH

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Blessing Victorious Property Ltd
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Blessing Victorious Property Ltd for the year ended 30 November 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Blessing Victorious Property Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Blessing Victorious Property Ltd and state those matters that we have agreed to state to the Board of Directors of Blessing Victorious Property Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blessing Victorious Property Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Blessing Victorious Property 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 loss of Blessing Victorious Property Ltd. You consider that Blessing Victorious Property 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 Blessing Victorious Property 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.






SDT Accounting and Taxation Services Ltd
Chartered Certified Accountant
26 Beechwood Avenue
Chatham
Kent
ME5 7HH

3 February 2025

 

Blessing Victorious Property Ltd

(Registration number: 11070961)
Abridged Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

1,462,344

1,120,815

Current assets

 

Cash at bank and in hand

 

148,344

2,436

Creditors: Amounts falling due within one year

(279,233)

(305,548)

Net current liabilities

 

(130,889)

(303,112)

Total assets less current liabilities

 

1,331,455

817,703

Creditors: Amounts falling due after more than one year

5.1

(1,344,822)

(813,184)

Provisions for liabilities

(14,988)

(14,988)

Accruals and deferred income

 

(1,200)

(950)

Net liabilities

 

(29,555)

(11,419)

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

44,963

44,963

Retained earnings

(74,618)

(56,482)

Shareholders' deficit

 

(29,555)

(11,419)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

Blessing Victorious Property Ltd

(Registration number: 11070961)
Abridged Balance Sheet as at 30 November 2024

Approved and authorised by the Board on 3 February 2025 and signed on its behalf by:
 

Mrs V Ojan
Director

 

Blessing Victorious Property Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
119 Ramsay Road
Forest Gate
London
E7 9EP
England

These financial statements were authorised for issue by the Board on 3 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Blessing Victorious Property Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Blessing Victorious Property Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Investment properties

2024
£

At 1 December

1,120,815

Additions

341,529

At 30 November

1,462,344

There has been no valuation of investment property by an independent valuer.

5

Creditors

Creditors: amounts falling due after more than one year

Creditors falling due after more than one year include bank loans which are secured by a fixed and floating charge over the properties of £1,055,822 (2023 - £813,184).

Creditors include bank loans repayable by instalments of £1,055,822 (2023: £813,184) due after more than five years.

6

Related party transactions

Included in other creditors, there is a directors' loan account balance of £279,232 (2023 £305,546).

Included in other creditors in more than one year, there is a loan balance of £289,000 due to Kenny Victorious Property Limited, a company in which Miss T B A Ojan is a director.