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REGISTERED NUMBER: 11214840 (England and Wales)










Unaudited Financial Statements

for the Year Ended 26 February 2024

for

Viraj Enterprises Ltd

Viraj Enterprises Ltd (Registered number: 11214840)






Contents of the Financial Statements
for the Year Ended 26 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Viraj Enterprises Ltd

Company Information
for the Year Ended 26 February 2024







DIRECTOR: R Khanna





SECRETARY: N Kumar





REGISTERED OFFICE: Eshton Suite 2 Wynyard Business Park
Wynyard Avenue
Billingham
Cleveland
TS22 5TB





REGISTERED NUMBER: 11214840 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Wynyard Business Park
Wynyard Avenue
Billingham
Cleveland
TS22 5TB

Viraj Enterprises Ltd (Registered number: 11214840)

Balance Sheet
26 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 3 46,030 61,374
Investment property 4 6,697,923 6,054,773
6,743,953 6,116,147

CURRENT ASSETS
Debtors 5 109,071 -
Cash at bank 70,575 2,542
179,646 2,542
CREDITORS
Amounts falling due within one year 6 (1,082,956 ) (682,070 )
NET CURRENT LIABILITIES (903,310 ) (679,528 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,840,643

5,436,619

CREDITORS
Amounts falling due after more than one year 7 (5,196,415 ) (4,023,553 )

PROVISIONS FOR LIABILITIES (237,532 ) (250,821 )
NET ASSETS 406,696 1,162,245

CAPITAL AND RESERVES
Called up share capital 1 1
Other reserves 9 615,395 1,261,156
Retained earnings 9 (208,700 ) (98,912 )
406,696 1,162,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 26 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 26 February 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.

Viraj Enterprises Ltd (Registered number: 11214840)

Balance Sheet - continued
26 February 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 26 February 2025 and were signed by:





R Khanna - Director


Viraj Enterprises Ltd (Registered number: 11214840)

Notes to the Financial Statements
for the Year Ended 26 February 2024

1. 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 as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

INVESTMENT PROPERTY
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.

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.

GOING CONCERN
The financial statements have been prepared on a going concern basis, the director believes this assumption to be appropriate based on the continuing financial support of the company`s director and loan provider.

If the going concern basis was not appropriate, adjustments would have to be made to restate the value of the assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Viraj Enterprises Ltd (Registered number: 11214840)

Notes to the Financial Statements - continued
for the Year Ended 26 February 2024

3. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 27 February 2023
and 26 February 2024 88,500 820 89,320
DEPRECIATION
At 27 February 2023 27,703 243 27,946
Charge for year 15,199 145 15,344
At 26 February 2024 42,902 388 43,290
NET BOOK VALUE
At 26 February 2024 45,598 432 46,030
At 26 February 2023 60,797 577 61,374

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 27 February 2023 6,054,773
Additions 1,426,923
Disposals (724,500 )
Revaluations (59,273 )
At 26 February 2024 6,697,923
NET BOOK VALUE
At 26 February 2024 6,697,923
At 26 February 2023 6,054,773

Fair value at 26 February 2024 is represented by:
£   
Valuation in 2020 550,373
Valuation in 2021 309,793
Valuation in 2022 310,426
Valuation in 2023 146,019
Valuation in 2024 (59,273 )
Cost 5,440,585
6,697,923

Properties are required to be disclosed within the financial statements at fair value.

The valuation was made by directors on an open market value basis by reference to market evidence of
transaction prices for similar properties. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

Viraj Enterprises Ltd (Registered number: 11214840)

Notes to the Financial Statements - continued
for the Year Ended 26 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 40,500 -
Directors' current accounts 68,571 -
109,071 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,521 8,061
Other loans 267,396 198,859
Hire purchase contracts 11,936 11,936
Trade creditors 1,561 3,289
Corporation tax 5,191 14,078
Other creditors 787,863 323,052
Directors' current accounts - 121,497
Accrued expenses 1,488 1,298
1,082,956 682,070

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 8,404 8,265
Bank loans - 2-5 years 18,576 24,200
Other loans - 1-2 years 267,396 198,859
Other loans - 2-5 years 1,069,582 795,437
Other loans more 5yrs instal 3,785,750 2,938,149
Hire purchase contracts 46,707 58,643
5,196,415 4,023,553

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 3,785,750 2,938,149

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 5,390,124 4,131,304

Viraj Enterprises Ltd (Registered number: 11214840)

Notes to the Financial Statements - continued
for the Year Ended 26 February 2024

9. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

FAIR VALUE RESERVES
The Company uses the revaluation model for the measurement of its investment properties. The reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 26 February 2024 and 26 February 2023:

2024 2023
£    £   
R Khanna
Balance outstanding at start of year (121,497 ) (239,021 )
Amounts advanced 1,152,077 482,058
Amounts repaid (962,009 ) (364,534 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 68,571 (121,497 )

11. RELATED PARTY DISCLOSURES

Included within other creditors is a balance of £242,353 (2023: £186,863) due to Annika Properties Limited, and £139,425 (2023: £136,188) due to Wealth Investors Group Ltd, companies controlled by the director.