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Company registration number: 10900218
View Property Developments Limited
Unaudited filleted financial statements
31 August 2024
View Property Developments Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
View Property Developments Limited
Directors and other information
Directors Syed Naveed Hussain
Syed Junaed Hussain
Company number 10900218
Registered office Unit 7
16-18 Pampisford Road
Purley
Surrey
CR8 2NE
Business address Unit 7
16-18 Pampisford Road
Purley
Surrey
CR8 2NE
Accountants P R Shah & Co
10 Bouverie Gardens
Harrow
Middlesex
HA3 0RQ
Bankers HSBC
139A North End
Croydon
Surrey
CR0 1TN
View Property Developments Limited
Statement of financial position
31 August 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 4 2 -
_______ _______
2 -
Current assets
Debtors 5 120 90
Cash at bank and in hand 155 998
_______ _______
275 1,088
Creditors: amounts falling due
within one year 6 ( 21,340) ( 17,935)
_______ _______
Net current liabilities ( 21,065) ( 16,847)
_______ _______
Total assets less current liabilities ( 21,063) ( 16,847)
Creditors: amounts falling due
after more than one year 7 ( 16,594) ( 18,259)
_______ _______
Net liabilities ( 37,657) ( 35,106)
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account ( 37,667) ( 35,116)
_______ _______
Shareholders deficit ( 37,657) ( 35,106)
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 August 2025 , and are signed on behalf of the board by:
Syed Naveed Hussain
Director
Company registration number: 10900218
View Property Developments Limited
Statement of changes in equity
Year ended 31 August 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 September 2022 10 ( 32,167) ( 32,157)
Loss for the year ( 2,949) ( 2,949)
_______ _______ _______
Total comprehensive income for the year - ( 2,949) ( 2,949)
_______ _______ _______
At 31 August 2023 and 1 September 2023 10 ( 35,116) ( 35,106)
Loss for the year ( 2,551) ( 2,551)
_______ _______ _______
Total comprehensive income for the year - ( 2,551) ( 2,551)
_______ _______ _______
At 31 August 2024 10 ( 37,667) ( 37,657)
_______ _______ _______
View Property Developments Limited
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 7, 16-18 Pampisford Road, Purley, Surrey, CR8 2NE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 September 2023 - -
Additions 2 2
_______ _______
At 31 August 2024 2 2
_______ _______
Impairment
At 1 September 2023 and 31 August 2024 - -
_______ _______
Carrying amount
At 31 August 2024 2 2
_______ _______
At 31 August 2023 - -
_______ _______
5. Debtors
2024 2023
£ £
Trade debtors 90 90
Other debtors 30 -
_______ _______
120 90
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 3,437 3,421
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,989 -
Other creditors 5,914 4,514
_______ _______
21,340 17,935
_______ _______
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 16,594 18,259
_______ _______
The Company acquired the Bounce Back Loan on 17 May 2020 for a term of six years repayable after 12 months from commencement in equal monthly instalments. The interest rate charged will be 2.5% per annum commencing from the first anniversary of the loan. Th interest for the first year will be paid by the UK Government to the lending bank. In addition the loan is guaranteed by the UK Government under the Bounce Back Loan Scheme.