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REGISTERED NUMBER: 11376005 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

Virdee Property Group Limited

Virdee Property Group Limited (Registered number: 11376005)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Virdee Property Group Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Dr M Virdee





SECRETARY: Mrs U K Virdee





REGISTERED OFFICE: Haucon House
Woodham Park Way
Woodham
Addlestone
Surrey
KT15 3SD





REGISTERED NUMBER: 11376005 (England and Wales)





ACCOUNTANTS: CSL Partnership Limited
Chartered Certified Accountants
238 Station Road
Addlestone
Surrey
KT15 2PS

Virdee Property Group Limited (Registered number: 11376005)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 252,062 165,568
Investment property 5 352,733 352,733
604,795 518,301

CURRENT ASSETS
Debtors 6 10,000 10,000
Cash at bank and in hand 141 3,791
10,141 13,791
CREDITORS
Amounts falling due within one year 7 (285,928 ) (271,557 )
NET CURRENT LIABILITIES (275,787 ) (257,766 )
TOTAL ASSETS LESS CURRENT LIABILITIES 329,008 260,535

CREDITORS
Amounts falling due after more than one
year

8

(340,801

)

(260,390

)
NET (LIABILITIES)/ASSETS (11,793 ) 145

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (11,794 ) 144
(11,793 ) 145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Virdee Property Group Limited (Registered number: 11376005)

Balance Sheet - continued
31 May 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:





Dr M Virdee - Director


Virdee Property Group Limited (Registered number: 11376005)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Virdee Property Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the 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.

Tangible fixed assets
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Computer equipment - 33% on cost

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the income statement.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value.

Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

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.


Virdee Property Group Limited (Registered number: 11376005)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued
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.

Going concern
The shareholder of the company has indicated his willingness to financial support the company for the foreseeable future, therefore, the accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
to Computer
property equipment Totals
£    £    £   
COST
At 1 June 2023 165,378 1,242 166,620
Additions 86,376 308 86,684
At 31 May 2024 251,754 1,550 253,304
DEPRECIATION
At 1 June 2023 - 1,052 1,052
Charge for year - 190 190
At 31 May 2024 - 1,242 1,242
NET BOOK VALUE
At 31 May 2024 251,754 308 252,062
At 31 May 2023 165,378 190 165,568

Virdee Property Group Limited (Registered number: 11376005)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 352,733
NET BOOK VALUE
At 31 May 2024 352,733
At 31 May 2023 352,733

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 10,000 10,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 16,567 2,500
Tax - 6,510
Other creditors 834 -
Directors' current accounts 265,232 260,375
Accrued expenses 3,295 2,172
285,928 271,557

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 19,380 2,500
Bank loans - 2-5 years 70,531 7,000
Bank loans - more than 5 years 250,890 250,890
340,801 260,390

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans - more than 5 years 250,890 250,890

9. RELATED PARTY DISCLOSURES

At the year end the director was owed £265,232 (2023: £260,375) in respect of his director's loan account.

The loan is interest free and repayable on demand.