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REGISTERED NUMBER: 00931094 (England and Wales)









Financial Statements

for the Year Ended

30 September 2024

for

V.S. Properties Limited

V.S. Properties Limited (Registered number: 00931094)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


V.S. Properties Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: V Mehra
Mrs A Mehra





SECRETARY: V Mehra





REGISTERED OFFICE: c/o Parker Cavendish, Suite 301,
Stanmore Business and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW





REGISTERED NUMBER: 00931094 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
Suite 301, Stanmore Business
and Innovation Centre
Howard Road
Stanmore
Middlesex
HA7 1FW

V.S. Properties Limited (Registered number: 00931094)

Statement of Financial Position
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 3,968,291 3,969,582
Investments 5 2,010 1,921
3,970,301 3,971,503

CURRENT ASSETS
Debtors 6 3,648,010 3,641,291
Cash at bank and in hand 271,134 176,868
3,919,144 3,818,159
CREDITORS
Amounts falling due within one year 7 467,901 476,515
NET CURRENT ASSETS 3,451,243 3,341,644
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,421,544

7,313,147

CREDITORS
Amounts falling due after more than one
year

8

(2,670,430

)

(2,787,680

)

PROVISIONS FOR LIABILITIES (353,000 ) (353,000 )
NET ASSETS 4,398,114 4,172,467

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 10 2,559,040 2,566,659
Retained earnings 10 1,838,074 1,604,808
SHAREHOLDERS' FUNDS 4,398,114 4,172,467

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

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.

V.S. Properties Limited (Registered number: 00931094)

Statement of Financial Position - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2025 and were signed on its behalf by:





V Mehra - Director


V.S. Properties Limited (Registered number: 00931094)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

V.S. Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about V.S. Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced income from the provision of hotel accommodation and related services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures, fittings & equipment - 10% - 25% on cost

The land element of the freehold property is not depreciated. The building element is depreciated to its estimated residual value over a period of 50 years.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 5 ) .

V.S. Properties Limited (Registered number: 00931094)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures,
Freehold fittings
property & equipment Totals
£    £    £   
COST OR VALUATION
At 1 October 2023 4,169,074 993,268 5,162,342
Additions - 26,632 26,632
At 30 September 2024 4,169,074 1,019,900 5,188,974
DEPRECIATION
At 1 October 2023 223,025 969,735 1,192,760
Charge for year 15,381 12,542 27,923
At 30 September 2024 238,406 982,277 1,220,683
NET BOOK VALUE
At 30 September 2024 3,930,668 37,623 3,968,291
At 30 September 2023 3,946,049 23,533 3,969,582

Included in cost or valuation of land and buildings is freehold land of £ 3,000,000 (2023 - £ 3,000,000 ) which is not depreciated.

In the opinion of the directors, the market value of the property is significantly in excess of the value stated in the balance sheet.

Cost or valuation at 30 September 2024 is represented by:

Fixtures,
Freehold fittings
property & equipment Totals
£    £    £   
Valuation in 2007 3,238,135 - 3,238,135
Cost 930,939 1,019,900 1,950,839
4,169,074 1,019,900 5,188,974

If freehold land and buildings had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 930,939 930,939

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 October 2023 100 1,821 1,921
Revaluations - 89 89
At 30 September 2024 100 1,910 2,010
NET BOOK VALUE
At 30 September 2024 100 1,910 2,010
At 30 September 2023 100 1,821 1,921

V.S. Properties Limited (Registered number: 00931094)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 September 2024 is represented by:

Shares in
group Other
undertakings investments Totals
£    £    £   
Valuation in 2024 - (732 ) (732 )
Cost 100 2,642 2,742
100 1,910 2,010

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 5,300
Amounts owed by group undertakings 3,562,000 3,552,000
Other debtors 38,107 38,107
Prepayments & accrued income 47,903 45,884
3,648,010 3,641,291

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 109,000 109,000
Trade creditors 15,319 26,110
Tax 27,255 49,865
Social security & other taxes 2,823 1,538
Value added tax 37,808 26,050
Other creditors 202,783 201,163
Accruals & deferred income 72,913 62,789
467,901 476,515

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 2,670,430 2,787,680

Bank loans falling due after more than five years repayable by instalments amount to £Nil (2023: £81,518) and that repayable other than by instalments amount to £Nil (2023: £2,293,496).

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,762,763 2,870,013

The bank loans and overdraft are secured on the property.

V.S. Properties Limited (Registered number: 00931094)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2023 1,604,808 2,566,659 4,171,467
Profit for the year 225,647 225,647
Transfer from revaluation
reserve 7,619 (7,619 ) -
At 30 September 2024 1,838,074 2,559,040 4,397,114