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Registered Number: 14759202
England and Wales

 

 

 

VERMA PROPERTIES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 26 March 2023

End date: 31 March 2024
Director Gopal Krishan
Registered Number 14759202
Registered Office 1 Hele Close
Basingstoke England
RG21 3JF
Accountants IAC Accountants Limited
Regal Court
42-44 High Street
Slough
SL1 1EL
1
 
 
Notes
 
2024
£
Fixed assets    
Tangible fixed assets 3 711,980 
711,980 
Current assets    
Cash at bank and in hand 1,656 
Creditors: amount falling due within one year 4 (231,734)
Net current assets (230,078)
 
Total assets less current liabilities 481,902 
Creditors: amount falling due after more than one year 5 (497,513)
Net assets (15,611)
 

Capital and reserves
   
Called up share capital 1 
Profit and loss account (15,612)
Shareholders' funds (15,611)
 


For the period ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 03 April 2025 and were signed by:


-------------------------------
Gopal Krishan
Director
2
General Information
Verma Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 14759202, registration address 1 Hele Close, Basingstoke England, RG21 3JF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors have confirmed that they will continue to give financial support to the company until such time as its position improves. In addition the directors have confirmed that they will not recall their loans within 12 months. The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support were withdrawn.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.


Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.


Current and deferred tax assets and liabilities are not discounted.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the period was 1.
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 26 March 2023  
Additions 711,980    711,980 
Disposals  
At 31 March 2024 711,980    711,980 
Depreciation
At 26 March 2023  
Charge for period  
On disposals  
At 31 March 2024  
Net book values
Closing balance as at 31 March 2024 711,980    711,980 
Opening balance as at 26 March 2023  


4.

Creditors: amount falling due within one year

2024
£
Directors' Current Accounts 231,734 
231,734 

5.

Creditors: amount falling due after more than one year

2024
£
Other Creditors 497,513 
497,513 

6.

Related Party Transactions

Creditors due within one year includes an interest free amount of £231,734 due to the director. This loan is repayable on demand.
3