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Registered number: 10986814









Victor (Old Trafford) Limited







Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 September 2024

 
Victor (Old Trafford) Limited
Registered number: 10986814

Statement of Financial Position
As at 30 September 2024

2024
2023
Note
£
£

Current assets
  

Stocks
 4 
-
1,927,144

Debtors: amounts falling due within one year
 5 
2
23,010

Cash at bank and in hand
  
121,857
11,807

  
121,859
1,961,961

Creditors: amounts falling due within one year
 6 
(121,305)
(1,418,676)

Net current assets
  
 
 
554
 
 
543,285

Creditors: amounts falling due after more than one year
 7 
(51,571)
(564,783)

Net liabilities
  
(51,017)
(21,498)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(51,019)
(21,500)

  
(51,017)
(21,498)


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



M T Purcell
Director

Date: 17 February 2025

The notes on pages 2 to 3 form part of these financial statements.

Page 1

 
Victor (Old Trafford) Limited
 
 
 
Notes to the Financial Statements
For the year ended 30 September 2024

1.


General information

Victor (Old Trafford) Limited is a private company limited by share capital incorporated in England, registered number 10986814. The address of the registered office is 6 Oldfield Road, Salford, Manchester, M5 4WB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is reliant on the continued support of the directors and certain related parties, who have confirmed that they will continue to support the company for the foreseeable future. The accounts have therefore been prepared on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue derived from the sale of speculative developments is recognised upon the transfer of risks and rewards of ownership to the buyer, when there is an exchange of unconditional contracts.
Rental income is recognised in the period this falls due.

 
2.4

Stocks

Stocks of land for development is included at the lower of acquisition cost or net realisable value. Net realisable value for this purpose is the estimated selling value less estimated selling costs.

Work in progress is valued at cost or net realisable value whichever is the lower. Cost for this purpose includes all direct costs such as direct labour and materials, work done by subcontractors, hire of plant and equipment, and all overheads except those relating to administration. Net realisable value for this purpose is estimated selling values  less cost to completion including selling costs.


3.


Employees




The average monthly number of employees, including directors, during the year was 9 (2023 - 9).

Page 2

 
Victor (Old Trafford) Limited
 
 
 
Notes to the Financial Statements
For the year ended 30 September 2024

4.


Stocks

2024
2023
£
£

Work in progress
-
1,927,144



5.


Debtors

2024
2023
£
£


Trade debtors
-
1,260

Amounts owed by group undertakings
-
21,749

Other debtors
2
1

2
23,010



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
94

Amounts owed to associates
258
1,407,590

Other taxation and social security
-
421

Other creditors
-
10,571

Accruals and deferred income
121,047
-

121,305
1,418,676



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to associates
51,571
564,783


Secured loans
The amounts owed to associates is secured by way of a legal charge over the company's work in progress.

 
Page 3