2 2 Verlands Properties Limited 07150576 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is Other retail sale in non-specialised stores Digita Accounts Production Advanced 6.30.9574.0 true 07150576 2024-04-01 2025-03-31 07150576 2025-03-31 07150576 core:CurrentFinancialInstruments 2025-03-31 07150576 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 07150576 core:Non-currentFinancialInstruments 2025-03-31 07150576 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 07150576 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 07150576 core:MotorVehicles 2025-03-31 07150576 core:PlantMachinery 2025-03-31 07150576 bus:SmallEntities 2024-04-01 2025-03-31 07150576 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 07150576 bus:FilletedAccounts 2024-04-01 2025-03-31 07150576 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 07150576 bus:RegisteredOffice 2024-04-01 2025-03-31 07150576 bus:Director1 2024-04-01 2025-03-31 07150576 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07150576 core:CommercialMotorVehicles 2024-04-01 2025-03-31 07150576 core:LandBuildings 2024-04-01 2025-03-31 07150576 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 07150576 core:MotorVehicles 2024-04-01 2025-03-31 07150576 core:PlantMachinery 2024-04-01 2025-03-31 07150576 countries:AllCountries 2024-04-01 2025-03-31 07150576 2024-03-31 07150576 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 07150576 core:MotorVehicles 2024-03-31 07150576 core:PlantMachinery 2024-03-31 07150576 2023-04-01 2024-03-31 07150576 2024-03-31 07150576 core:CurrentFinancialInstruments 2024-03-31 07150576 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07150576 core:Non-currentFinancialInstruments 2024-03-31 07150576 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 07150576 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 07150576 core:MotorVehicles 2024-03-31 07150576 core:PlantMachinery 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares

Filleted
Registration number: 07150576

Verlands Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Verlands Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Verlands Properties Limited

Company Information

Director

Mr D E Baynham

Registered office

Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

 

Verlands Properties Limited

(Registration number: 07150576)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

343,970

349,681

Current assets

 

Debtors

5

332

5,933

Cash at bank and in hand

 

4

4

 

336

5,937

Creditors: Amounts falling due within one year

6

(52,389)

(67,199)

Net current liabilities

 

(52,053)

(61,262)

Total assets less current liabilities

 

291,917

288,419

Creditors: Amounts falling due after more than one year

6

(64,811)

(68,111)

Net assets

 

227,106

220,308

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

227,105

220,307

Shareholders' funds

 

227,106

220,308

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 April 2025
 

.........................................
Mr D E Baynham
Director

   
     
 

Verlands Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

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

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the director on 30 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.

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.

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.

 

Verlands Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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

Freehold land and buildings

Not provided for

Plant and machinery

25% Reducing balance

Motor Vehicles

20% Reducing balance

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Verlands Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

322,477

666

28,750

351,893

At 31 March 2025

322,477

666

28,750

351,893

Depreciation

At 1 April 2024

1,199

55

958

2,212

Charge for the year

-

153

5,558

5,711

At 31 March 2025

1,199

208

6,516

7,923

Carrying amount

At 31 March 2025

321,278

458

22,234

343,970

At 31 March 2024

321,278

611

27,792

349,681

Included within the net book value of land and buildings above is £321,278 (2024 - £321,278) in respect of freehold land and buildings.
 

 

Verlands Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Debtors

2025
£

2024
£

Prepayments

332

540

Other debtors

-

5,393

332

5,933

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Bank loans and overdrafts

8

3,248

9,157

Taxation and social security

 

563

-

Director current account

 

45,200

56,454

Other creditors

 

3,378

1,588

 

52,389

67,199

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

64,811

68,111

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary share of £1 each

95

95

95

95

A Ordinary share of £1 each

5

5

5

5

100

100

100

100

 

Verlands Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Loans and borrowings

2025
£

2024
£

Non-current loans and borrowings

Bank borrowings

14,811

18,111

Director current account

50,000

50,000

64,811

68,111

Current loans and borrowings

2025
£

2024
£

Bank borrowings

3,231

3,162

Bank overdrafts

17

5,995

3,248

9,157

9

Related party transactions

Transactions with the director

As at the balance sheet date, the director was owed £95,200 (2024 : £106,454) from the company. The loan is interest free and repayable on demand.