REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
VERO PROPERTY GROUP LTD. |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
VERO PROPERTY GROUP LTD. |
VERO PROPERTY GROUP LTD. (REGISTERED NUMBER: 12644126) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
VERO PROPERTY GROUP LTD. |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
123 Wellington Road South |
Stockport |
Cheshire |
SK1 3TH |
VERO PROPERTY GROUP LTD. (REGISTERED NUMBER: 12644126) |
BALANCE SHEET |
30 JUNE 2024 |
30/6/24 | 30/6/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Fair value reserve | 10 |
Retained earnings | ( |
) | ( |
) |
The directors acknowledge their 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. |
VERO PROPERTY GROUP LTD. (REGISTERED NUMBER: 12644126) |
BALANCE SHEET - continued |
30 JUNE 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
VERO PROPERTY GROUP LTD. (REGISTERED NUMBER: 12644126) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Vero Property Group Ltd. is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue represents the fair value of the consideration received or receivable for property letting services, net of discounts and sales taxes. Revenue is recognised when it is probable that the economic benefits associated with a transaction will flow to the Company and the amount of revenue and associated costs can be measured reliably. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
VERO PROPERTY GROUP LTD. (REGISTERED NUMBER: 12644126) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Additions |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
The investment properties are valued at fair value basis at 30th June 2024 by the directors. |
Fair value at 30 June 2024 is represented by: |
£ |
Valuation in 2022 | 56,151 |
Valuation in 2023 | 54,767 |
Cost | 1,610,458 |
1,721,376 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30/6/24 | 30/6/23 |
£ | £ |
Other creditors |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30/6/24 | 30/6/23 |
£ | £ |
Other loans |
Loans are secured by fixed and floating charges covering all the property and undertakings of the company. |
VERO PROPERTY GROUP LTD. (REGISTERED NUMBER: 12644126) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number | Class | Nominal | 30/06/23 | 30/06/22 |
value: |
36 | Ordinary 'A' | £1.00 | 36 | 36 |
36 | Ordinary 'B' | £1.00 | 36 | 36 |
10 | Ordinary 'C' | £1.00 | 10 | 10 |
18 | Ordinary 'D' | £1.00 | 18 | 18 |
100 | 100 |
All four classes of fully paid Ordinary "A" , "B" ,"C" and "D" shares have the same rights attaching to them except they carry differential rights to the receipt of such dividends, payable on such class or classes of shares, in such amounts, at such frequency and at such times on the recommendation of the Directors. |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 July 2023 |
and 30 June 2024 |