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Registered number: 11219414
Vida Property Solutions Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Property Accounts Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11219414
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 325,000 325,000
325,000 325,000
CURRENT ASSETS
Debtors 5 1,241,456 1,043,516
Cash at bank and in hand 20,684 86,516
1,262,140 1,130,032
Creditors: Amounts Falling Due Within One Year 6 (1,175,488 ) (1,065,437 )
NET CURRENT ASSETS (LIABILITIES) 86,652 64,595
TOTAL ASSETS LESS CURRENT LIABILITIES 411,652 389,595
Creditors: Amounts Falling Due After More Than One Year 7 (227,170 ) (230,556 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (23,886 ) (23,886 )
NET ASSETS 160,596 135,153
CAPITAL AND RESERVES
Called up share capital 8 1 1
Revaluation reserve 9 80,400 80,400
Profit and Loss Account 80,195 54,752
SHAREHOLDERS' FUNDS 160,596 135,153
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Heather Critchlow
Director
28/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Vida Property Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11219414 . The registered office is C/O Property Accounts Limited, 59 Castle Street, Reading, RG1 7SN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is recognised as rental income received.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Investment Properties
£
Cost
As at 1 April 2023 325,000
As at 31 March 2024 325,000
Net Book Value
As at 31 March 2024 325,000
As at 1 April 2023 325,000
Page 3
Page 4
5. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Other debtors 874,917 752,765
Amounts owed by associates 366,539 290,751
1,241,456 1,043,516
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors 420 -
Bank loans and overdrafts 2,855 2,855
Other creditors 8,498 15,935
Bridging loan 948,196 764,819
Director's loan account 4,582 61,666
Amounts owed to related parties 210,937 220,162
1,175,488 1,065,437
7. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Bank loans 15,920 19,306
Mortgages 211,250 211,250
227,170 230,556
8. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 1 1
9. Reserves
Revaluation Reserve
£
As at 1 April 2023 80,400
As at 31 March 2024 80,400
10. Related Party Transactions
Related party transactions include (to)/from:
£59,176 (2023: £59,176) owed from Upper Boundary Ltd, a company of which H Critchlow is a participator.
£231,575 (2023: £231,575) owed from Brighton Road DE24 Ltd, a company of which H Critchlow is a participator.
£1,852 (2023: £(1,080))  owed from Vida Sourcing Limited, a company of which H Critchlow is a shareholder.
£(59,402) (2023: £(59,402)) owed to CEC Property Group Ltd, a company of which H Critchlow is a shareholder.
£(153,387) (2023: £(159,681)) owed to Vida Property Holdings Limited, a company of which H Critchlow is a shareholder.
£75,788 (2023: £0) owed from C&C Stays Ltd, a company of which H Critchlow is a shareholder.
Page 4