Company Registration No. 12636996 (England and Wales)
VIB PROPERTY INVESTMENT LTD
Unaudited accounts
for the year ended 30 June 2024
VIB PROPERTY INVESTMENT LTD
Statement of financial position
as at 30 June 2024
Investment property
379,641
383,649
Cash at bank and in hand
1,183
1,245
Creditors: amounts falling due within one year
(12,416)
(11,517)
Net current liabilities
(11,233)
(10,272)
Total assets less current liabilities
368,408
373,377
Creditors: amounts falling due after more than one year
(327,058)
(327,058)
Provisions for liabilities
Deferred tax
(10,486)
(11,248)
Called up share capital
100
100
Revaluation reserve
55,191
59,199
Profit and loss account
(24,427)
(24,228)
Shareholders' funds
30,864
35,071
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 March 2025 and were signed on its behalf by
Boiko Emilianov Zamfirov
Director
Company Registration No. 12636996
VIB PROPERTY INVESTMENT LTD
Notes to the Accounts
for the year ended 30 June 2024
VIB PROPERTY INVESTMENT LTD is a private company, limited by shares, registered in England and Wales, registration number 12636996. The registered office is 4 East Street, Peterborough, PE6 0EN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Any unrealised revaluation gain or loss on investment property is transferred to a non- distributable reserve.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 July 2023
383,649
Net loss from fair value adjustments
(4,008)
5
Creditors: amounts falling due within one year
2024
2023
Loans from directors
12,416
11,517
6
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
327,058
327,058
VIB PROPERTY INVESTMENT LTD
Notes to the Accounts
for the year ended 30 June 2024
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).