REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 24 May 2023 to 31 March 2024 |
for |
Villafont (Herne Bay) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 24 May 2023 to 31 March 2024 |
for |
Villafont (Herne Bay) Limited |
Villafont (Herne Bay) Limited (Registered number: 14892151) |
Contents of the Financial Statements |
for the Period 24 May 2023 to 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Villafont (Herne Bay) Limited |
Company Information |
for the Period 24 May 2023 to 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Reedham House |
31 King Street West |
Manchester |
M3 2PJ |
Villafont (Herne Bay) Limited (Registered number: 14892151) |
Balance Sheet |
31 March 2024 |
Notes | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Villafont (Herne Bay) Limited (Registered number: 14892151) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Villafont (Herne Bay) Limited (Registered number: 14892151) |
Notes to the Financial Statements |
for the Period 24 May 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Villafont (Herne Bay) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Stocks & work in progress |
Stocks and work in progress are valued at the lower of cost and net realisable value. Cost comprises land and associated acquisition costs, direct materials and subcontract work, other direct costs and those overheads (based on normal operating capacity) that have been incurred in bringing the stocks to their present location and condition, including borrowing costs. |
This net realisable value provision will be closely monitored for adequacy and appropriateness as regards under and over provision to reflect circumstances at future balance sheet dates. Any material change to the underlying provision will be reflected through cost of sales as an exceptional item. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and 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. |
Going concern |
The company's financial statements for the period ended 31 March 2024 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
Villafont (Herne Bay) Limited (Registered number: 14892151) |
Notes to the Financial Statements - continued |
for the Period 24 May 2023 to 31 March 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by participating interests |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Other loans |
8. | RELATED PARTY DISCLOSURES |
At 31 March 2024, a balance of £334,167 was owed by an other related party. No interest is chargeable and the balance is repayable on demand. |
During the period, the company was charged £165,000 for services provided by other related parties. |
During the period, the company was charged £584,029 for services provided by a company in which the directors of the company, have a material interest. At 31 March 2024, there was £116,155 owed to this company. |
At 31 March 2024, others creditors included £2,126,565 in respect of shareholder equity loans. No interest is chargeable and the loans are long term. |
9. | ULTIMATE CONTROLLING PARTY |