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Registration number: 03095329

Vaid Holdings Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2024

 

Vaid Holdings Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Vaid Holdings Limited

Company Information

Directors

Bhavjeet Singh Vaid

Sardar Singh Vaid

Manjeet Singh Vaid

Monica Varia

Hari Bala Vaid

Company secretary

Hari Bala Vaid

Registered office

84 High Street, Southall
Middlesex
UB1 3DB

Accountants

Charles Rippin and Turner Limited Charles Rippin & Turner
Middlesex House
130 College Road
Harrow
Middlesex
HA1 1BQ

 

Vaid Holdings Limited

(Registration number: 03095329)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,237,863

1,168,022

Current assets

 

Cash at bank and in hand

 

2,593

1,278

Creditors: Amounts falling due within one year

(75,218)

(75,218)

Net current liabilities

 

(72,625)

(73,940)

Total assets less current liabilities

 

1,165,238

1,094,082

Creditors: Amounts falling due after more than one year

(711,601)

(710,945)

Accruals and deferred income

 

(2,500)

(250)

Net assets

 

451,137

382,887

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

451,037

382,787

Shareholders' funds

 

451,137

382,887

For the financial year ending 31 August 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and 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 16 September 2024 and signed on its behalf by:
 

.........................................
Hari Bala Vaid
Company secretary and director

 

Vaid Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
84 High Street, Southall
Middlesex
UB1 3DB

These financial statements were authorised for issue by the Board on 16 September 2024.

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 abridged 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 abridged 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.

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.

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

Fixtures and fittings

12% Reducing balance

 

Vaid Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

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 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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 3).

 

Vaid Holdings Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

1,046,658

127,983

1,174,641

Additions

-

75,759

75,759

At 31 August 2024

1,046,658

203,742

1,250,400

Depreciation

At 1 September 2023

-

6,619

6,619

Charge for the year

-

5,918

5,918

At 31 August 2024

-

12,537

12,537

Carrying amount

At 31 August 2024

1,046,658

191,205

1,237,863

At 31 August 2023

1,046,658

121,364

1,168,022

Included within the net book value of land and buildings above is £1,046,658 (2023 - £1,046,658) in respect of freehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100