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Registration number: 04370268

Victoria Court Property Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Victoria Court Property Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Victoria Court Property Company Limited

Company Information

Directors

DE Barrowclough

R A Barrowclough

Company secretary

DE Barrowclough

Registered office

Victoria Court 91 Huddersfield
Road Holmfirth
West Yorkshire
HD9 3JA

 

Victoria Court Property Company Limited

(Registration number: 04370268)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

355,977

355,977

Current assets

 

Debtors

5

268,355

52,882

Cash at bank and in hand

 

19,604

213,952

 

287,959

266,834

Creditors: Amounts falling due within one year

6

(14,167)

(34,542)

Net current assets

 

273,792

232,292

Net assets

 

629,769

588,269

Capital and reserves

 

Called up share capital

1

1

Retained earnings

629,768

588,268

Shareholders' funds

 

629,769

588,269

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Victoria Court Property Company Limited

(Registration number: 04370268)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:
 

.........................................
R A Barrowclough
Director

 

Victoria Court Property Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Victoria Court 91 Huddersfield
Road Holmfirth
West Yorkshire
HD9 3JA

These financial statements were authorised for issue by the Board on 9 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Victoria Court Property Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Victoria Court Property Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2023

355,977

355,977

At 30 June 2024

355,977

355,977

Depreciation

Carrying amount

At 30 June 2024

355,977

355,977

At 30 June 2023

355,977

355,977

Included within the net book value of land and buildings above is £355,977 (2023 - £355,977) in respect of freehold land and buildings.
 

 

Victoria Court Property Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,311

-

Prepayments

1,480

1,412

Other debtors

265,564

51,470

 

268,355

52,882

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

931

2,480

Taxation and social security

9,861

12,321

Accruals and deferred income

975

1,473

Other creditors

2,400

18,268

14,167

34,542

7

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

R A Barrowclough

During the year amounts have been advanced to the director. The amounts are aggregate and interest is charged at 2.25% p.a.. There are no fixed terms of repayment.

41,720

232,726

(41,720)

232,726

 

Victoria Court Property Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2023

At 1 July 2022
£

Advances to director
£

At 30 June 2023
£

R A Barrowclough

During the year amounts have been advanced to the director. The amounts are aggregate and interest is charged at 2.25% p.a.. There are no fixed terms of repayment.

-

41,720

41,720