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Registration number: 09015441

V C Promotions Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

V C Promotions Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

V C Promotions Limited

Company Information

Directors

Mr V Chopra

Mrs S Chopra

Registered office

DeVines Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

Accountants

DeVines Accountants Limited
Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
V C Promotions Limited
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of V C Promotions Limited for the year ended 30 April 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of V C Promotions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of V C Promotions Limited and state those matters that we have agreed to state to the Board of Directors of V C Promotions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than V C Promotions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that V C Promotions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of V C Promotions Limited. You consider that V C Promotions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of V C Promotions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DeVines Accountants Limited
Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

23 April 2025

 

V C Promotions Limited

(Registration number: 09015441)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

37,781

50,374

Investment property

5

210,422

210,422

 

248,203

260,796

Current assets

 

Debtors

6

8,462

6,862

Cash at bank and in hand

 

13,838

12,949

 

22,300

19,811

Creditors: Amounts falling due within one year

7

(59,151)

(58,478)

Net current liabilities

 

(36,851)

(38,667)

Total assets less current liabilities

 

211,352

222,129

Creditors: Amounts falling due after more than one year

7

(240,000)

(240,000)

Net liabilities

 

(28,648)

(17,871)

Capital and reserves

 

Called up share capital

8

101

101

Profit and loss account

(28,749)

(17,972)

 

(28,648)

(17,871)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 April 2025 and signed on its behalf by:
 

 

V C Promotions Limited

(Registration number: 09015441)
Balance Sheet as at 30 April 2024

.........................................
Mr V Chopra
Director

 

V C Promotions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
DeVines Bellefield House
104 New London Road
Chelmsford
Essex
CM2 0RG

These financial statements were authorised for issue by the Board on 23 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis due to the continuing financial support of the Director for a period of not less than 12 months from the date of approval of the balance sheet.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

V C Promotions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Fixtures and fittings

25% reducing balance

Investment property

The investment property is not revalued as in the opinion of the Directors there is no difference between the purchase price and the fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

V C Promotions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Pension contributions

The company makes payments into the director's personal pension scheme which are recognised in the profit and loss account in the period in which they are paid.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

V C Promotions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

3,121

71,490

74,611

At 30 April 2024

3,121

71,490

74,611

Depreciation

At 1 May 2023

780

23,457

24,237

Charge for the year

585

12,008

12,593

At 30 April 2024

1,365

35,465

36,830

Net book value

At 30 April 2024

1,756

36,025

37,781

At 30 April 2023

2,341

48,033

50,374

5

Investment properties

2024
£

At 1 May

210,422

At 30 April

210,422

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

2023
£

Trade debtors

253

-

Prepayments

6,640

5,148

Other debtors

1,569

1,714

 

8,462

6,862

 

V C Promotions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,440

1,110

Accruals and deferred income

2,018

1,440

Other creditors

55,693

55,928

59,151

58,478

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

240,000

240,000

Creditors include bank loans which are secured of £240,000 (2023 - £240,000).

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A share of £1 each

100

100

100

100

Ordinary B share of £1 each

1

1

1

1

101

101

101

101

9

Reserves

The only movement on reserves on this period are losses (2023- losses).

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

240,000

240,000