| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2024 |
| for |
| VW Property Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2024 |
| for |
| VW Property Limited |
| VW Property Limited (Registered number: 11437664) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| VW Property Limited |
| Company Information |
| for the Year Ended 30 June 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 44 The Pantiles |
| Tunbridge Wells |
| Kent |
| TN2 5TN |
| VW Property Limited (Registered number: 11437664) |
| Balance Sheet |
| 30 June 2024 |
| 30.6.24 | 30.6.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Prepayments and accrued income |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Non-distributable reserve | 11 |
| Retained earnings |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| VW Property Limited (Registered number: 11437664) |
| Balance Sheet - continued |
| 30 June 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| VW Property Limited (Registered number: 11437664) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2024 |
| 1. | STATUTORY INFORMATION |
| VW Property Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The functional and presentational currency of the company is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| 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 tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
| Provision for liabilities |
| Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. |
| The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. |
| Turnover |
| Turnover represents rental income is recognised on an accruals basis in accordance with the substance of the relevant agreement. |
| VW Property Limited (Registered number: 11437664) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Other income |
| interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method. Dividend income is recognised when the right to receive payment is established. Income from fixed asset investments is recognised when the right to it has been established. |
| Government grants are recognised on an accruals basis in accordance with the substance of the relevant agreement. |
| Income from fixed asset investments is recognised when the right to it has been established. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | FIXED ASSET INVESTMENTS |
| Investments (neither listed nor unlisted) were as follows: |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Charupe Holding LLP | 1,364,482 | - |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 July 2023 |
| Disposals | ( |
) |
| At 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Bank loans (see note 8) |
| VW Property Limited (Registered number: 11437664) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| 8. | LOANS |
| An analysis of the maturity of loans is given below: |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst | 1,087,410 | 640,847 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Bank loans |
| The bank loans are secured by way of a fixed charge over properties owned by Charupe Holdings LLP in which the company is a member. |
| 10. | PROVISIONS FOR LIABILITIES |
| 30.6.24 | 30.6.23 |
| £ | £ |
| Deferred tax | 12,332 | 28,862 |
| Deferred |
| tax |
| £ |
| Balance at 1 July 2023 |
| Provided during year | ( |
) |
| Balance at 30 June 2024 |
| VW Property Limited (Registered number: 11437664) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2024 |
| 11. | RESERVES |
| Non-distributable |
| reserve |
| £ |
| At 1 July 2023 |
| Trf from non-distributable reserve | (87,000 | ) |
| At 30 June 2024 |
| 12. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the company owed its director £156,119 (2023 £189,570) and this is included in other creditors. The loan is interest free and is repayable on demand. |
| The company introduced the investment properties, with a total value of £930,000, in specie to Charupe Holdings LLP, in which it holds a membership interest in the period. |