Company Registration No. 03496272 (England and Wales)
VENTURES IN PROPERTIES LIMITED
Unaudited accounts
for the year ended 28 February 2023
VENTURES IN PROPERTIES LIMITED
Unaudited accounts
Contents
VENTURES IN PROPERTIES LIMITED
Company Information
for the year ended 28 February 2023
Directors
KARTIK HALAI
PREMJI PATEL
Company Number
03496272 (England and Wales)
Registered Office
3RD FLOOR VYMAN HOUSE
104 COLLEGE ROAD
HARROW
MIDDLESEX
HA1 1BQ
United Kingdom
Accountants
RMR Partnership LLP
3rd Floor, Vyman House
104 College Road
Harrow
Middlesex
HA1 1BQ
VENTURES IN PROPERTIES LIMITED
Statement of financial position
as at 28 February 2023
Tangible assets
286,031
294,392
Cash at bank and in hand
2,458
19
Creditors: amounts falling due within one year
(63,675)
(98,592)
Net current assets
258,215
236,254
Total assets less current liabilities
544,246
530,646
Creditors: amounts falling due after more than one year
(467,190)
(443,913)
Called up share capital
40,000
40,000
Revaluation reserve
100,000
100,000
Profit and loss account
(62,944)
(53,267)
Shareholders' funds
77,056
86,733
For the year ending 28 February 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by
KARTIK HALAI
Director
Company Registration No. 03496272
VENTURES IN PROPERTIES LIMITED
Notes to the Accounts
for the year ended 28 February 2023
VENTURES IN PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03496272. The registered office is 3RD FLOOR VYMAN HOUSE, 104 COLLEGE ROAD, HARROW, MIDDLESEX, HA1 1BQ, United Kingdom.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
At 28 February 2023
418,066
At 28 February 2023
132,035
At 28 February 2023
286,031
At 28 February 2022
294,392
VENTURES IN PROPERTIES LIMITED
Notes to the Accounts
for the year ended 28 February 2023
Amounts falling due within one year
Trade debtors
171,914
163,477
Accrued income and prepayments
660
2,658
Other debtors
146,858
168,692
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
16,293
34,838
Trade creditors
15,339
19,992
Taxes and social security
6,798
6,798
Loans from directors
-
21,833
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
267,190
243,913
Other creditors
200,000
200,000
8
Transactions with related parties
At the balance sheet date the company owed the Director £Nil (2022: £21,833).
At the balance sheet date the company owed Ashwinbhai Halai £200,000 (2022: £200,000) , an individual who is a related party to the company.
Shiv Souvenirs Limited is a related company incorporated in England and Wales. At the balance sheet date Shiv Souvenirs owed the company a total of £146,858 (2022: £168,692 ).
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).