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Company No: 13750192 (England and Wales)

VIKI CAPITAL PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

VIKI CAPITAL PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

VIKI CAPITAL PROPERTIES LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
VIKI CAPITAL PROPERTIES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR V Mehta
REGISTERED OFFICE 81 Woodstock Road
London
W4 1EE
United Kingdom
COMPANY NUMBER 13750192 (England and Wales)
ACCOUNTANT Evelyn Partners (South East) Limited
Brockbourne House
77 Mount Ephraim
Royal Tunbridge Wells
TN4 8BS
VIKI CAPITAL PROPERTIES LIMITED

BALANCE SHEET

As at 31 March 2024
VIKI CAPITAL PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 1,372,153 1,372,153
1,372,153 1,372,153
Current assets
Debtors 4 5,961 1,745
Cash at bank and in hand 10,906 39,238
16,867 40,983
Creditors: amounts falling due within one year 5 ( 418,709) ( 414,997)
Net current liabilities (401,842) (374,014)
Total assets less current liabilities 970,311 998,139
Creditors: amounts falling due after more than one year 6 ( 993,333) ( 993,320)
Net (liabilities)/assets ( 23,022) 4,819
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 23,122 ) 4,719
Total shareholder's (deficit)/funds ( 23,022) 4,819

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Viki Capital Properties Limited (registered number: 13750192) were approved and authorised for issue by the Director on 13 March 2025. They were signed on its behalf by:

V Mehta
Director
VIKI CAPITAL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
VIKI CAPITAL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Viki Capital Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 81 Woodstock Road, London, W4 1EE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Viki Capital Properties Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 April 2023 1,372,153
As at 31 March 2024 1,372,153

The 2024 valuations were made by the director, on an open market value for existing use basis.

4. Debtors

2024 2023
£ £
Prepayments 413 2,528
Corporation tax 783 ( 783)
Other debtors 4,765 0
5,961 1,745

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 690 0
Amounts owed to Parent undertakings 7,566 0
Amounts owed to director 397,224 391,145
Accruals and deferred income 7,705 23,852
Other taxation and social security 2,884 0
Other creditors 2,640 0
418,709 414,997

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 993,333 993,320

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Directors Loan account (397,224) (391,145)

During the year expenses of £6,079 were paid by the director on behalf of the company. At the end of the year £397,224 (2023: £391,145) was outstanding. This balance is interest free and payable on demand.

8. Ultimate controlling party

Parent Company:

Viki Capital Limited
81 Woodstock Road, London, England, W4 1EE

The ultimate controlling party is Viral Mehta by way of their 100% shareholding of Viki Capital Limited (parent company).