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Registered number: 10481336
VLW Properties Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Deans
Gibson House Hurricane Court
Hurricane Close
Stafford
ST16 1GZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10481336
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 298 454
Investment Properties 5 128,591 128,591
128,889 129,045
CURRENT ASSETS
Debtors 6 604 573
Cash at bank and in hand 4,416 3,951
5,020 4,524
Creditors: Amounts Falling Due Within One Year 7 (114,351 ) (117,674 )
NET CURRENT ASSETS (LIABILITIES) (109,331 ) (113,150 )
TOTAL ASSETS LESS CURRENT LIABILITIES 19,558 15,895
NET ASSETS 19,558 15,895
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 19,557 15,894
SHAREHOLDERS' FUNDS 19,558 15,895
Page 1
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For the 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.
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
Ms V L Walker
Director
25 February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
VLW Properties Limited is a private company, limited by shares, registered in England & Wales.  The company's registered number and registered office address can be found on the Company Information page.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of section 1a "Small Entities" and the Companies Act 2006.  The financial statements have been prepared under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of VAT and trade discounts.  The policies adopted for the recognition of turnover are as follows:
Rental income
When the outcome of a transaction can be estimated quickly, turnover from rental income is recognised by reference to the completion of the rental period.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation.  Cost includes costs directly attributable to making the asset capable of operating as intended.  Depreciation is provided at the following rates in order to write off each asset over its estimated useful life.
Plant & Machinery 25% on cost
2.4. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2.5. Taxation
Taxation for the year comprises current and deferred tax.  Tax is recognised in the Income Statement, 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 year 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.
2.6. Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 December 2023 624
As at 30 November 2024 624
Depreciation
As at 1 December 2023 170
Provided during the period 156
As at 30 November 2024 326
Net Book Value
As at 30 November 2024 298
As at 1 December 2023 454
5. Investment Property
2024
£
Fair Value
As at 1 December 2023 and 30 November 2024 128,591
The director is of the opinion that the fair value of the investment properties as at 30 November 2024 accords to the value shown on the balance sheet, being £128,591 (2023 - £128,591). The value is based on a valuation by the director in 2024.
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 565 534
Amounts owed by group undertakings 39 39
604 573
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 1,034 894
Other creditors 341 341
Accruals and deferred income 733 696
Director's loan account 112,243 115,743
114,351 117,674
8. Secured Creditors
As at 30 November 2023, there was a fixed charge over the investment property held by the company in relation to the director's loan account. The charge was satisfied on 20 March 2024.
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9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.00 each 1 1
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