Registered number
11231255
V&A PROPERTY PORTFOLIO LIMITED
Filleted Abridged Accounts
31 March 2025
V&A PROPERTY PORTFOLIO LIMITED
Registered number: 11231255
Abridged Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Investments 3 1,019,564 1,019,564
Current assets
Cash at bank and in hand 60,417 81,149
Creditors: amounts falling due within one year (10,945) (10,167)
Net current assets 49,472 70,982
Total assets less current liabilities 1,069,036 1,090,546
Creditors: amounts falling due after more than one year (1,031,850) (1,051,850)
Net assets 37,186 38,696
Capital and reserves
Called up share capital 100 100
Profit and loss account 37,086 38,596
Shareholders' funds 37,186 38,696
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Mrs Hasmita Kerai
Director
Approved by the board on 1 May 2025
V&A PROPERTY PORTFOLIO LIMITED
Notes to the Abridged Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The abridged 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction cost. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis 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 Employees 2025 2024
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 April 2024 1,019,564
At 31 March 2025 1,019,564
Historical cost
At 1 April 2024 1,019,564
At 31 March 2025 1,019,564
Other investments are investment properties. The fair value of the properties at 31st March 2025 has been arrived by a valuation carried out by Mrs H Kerai, being the director of the company who is not a professionally qualified valuer. The valuation was arrived by reference to market evidence of transaction prices for similar properties in its location and takes into account the current state of rental market in the area where the properties are situated.
4 Loans 2025 2024
£ £
Creditors include:
Secured bank loans 542,850 542,850
The bank loans are secured against the invement properties.
5 Controlling party
The company is controlled by the Director.
6 Other information
V&A PROPERTY PORTFOLIO LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
18 The Broadway
East Lane
Wembley
Middlesex
HA9 8JU
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