| V.E.L. PROPERTY INVESTMENT LTD |
| Registered number: |
13193448 |
| Balance Sheet |
| as at 28 February 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
526,383 |
|
|
498,096 |
|
| Current assets |
| Cash at bank and in hand |
|
|
128,250 |
|
|
6,924 |
|
| Creditors: amounts falling due within one year |
4 |
|
(301,741) |
|
|
(181,741) |
|
| Net current liabilities |
|
|
|
(173,491) |
|
|
(174,817) |
|
| Total assets less current liabilities |
|
|
|
352,892 |
|
|
323,279 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(336,386) |
|
|
(336,386) |
|
| Provisions for liabilities |
|
|
|
(6,726) |
|
|
- |
|
|
| Net assets/(liabilities) |
|
|
|
9,780 |
|
|
(13,107) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Revaluation reserve |
|
|
|
20,178 |
|
|
- |
| Profit and loss account |
|
|
|
(10,498) |
|
|
(13,207) |
|
| Shareholder's funds |
|
|
|
9,780 |
|
|
(13,107) |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| V.E Lewis |
| Director |
| Approved by the board on 30 November 2025 |
|
| V.E.L. PROPERTY INVESTMENT LTD |
| Notes to the Accounts |
| for the year ended 28 February 2025 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is rental income received. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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 form 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 balance sheet date and that are expected to apply to the reversal of the timing difference. |
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
| 3 |
Investment Property |
|
|
|
|
|
|
|
|
Investment Property |
| £ |
|
Cost |
|
At 29 February 2024 |
498,096 |
|
Additions |
1,383 |
|
Surplus on revaluation |
26,904 |
|
At 28 February 2025 |
526,383 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 28 February 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 28 February 2025 |
526,383 |
|
At 28 February 2024 |
498,096 |
|
|
The fair value of the investment property has been arrived on the basis of a valuation carried out by the Director. |
|
The valuation was made on an open market value basis. |
|
| 4 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Accruals |
900 |
|
900 |
|
Other creditors |
300,841 |
|
180,841 |
|
|
|
|
|
|
301,741 |
|
181,741 |
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Mortgage |
336,386 |
|
336,386 |
|
|
|
|
|
|
|
|
|
|
The mortgage is on an interest only payments hence the capital of £336,386 would be repayable in June 2058. |
| 6 |
Going concern |
|
|
The company is supported by loans from the director who has confirmed that such support will be continued in the future. |
|
|
| 7 |
Related party transactions |
|
|
During the year, the company had an intercompany loan of £120,000 from TJ Plumbers & Builders Limited, a company controlled by the same ultimate controlling party. The loan is interest free and repayable on demand. |
|
|
| 8 |
Other information |
|
|
V.E.L. PROPERTY INVESTMENT LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
17 Green Lanes |
|
London |
|
N16 9BS |