Company registration number 07162500 (England and Wales)
Victus Properties Limited
Unaudited financial statements
For the year ended 28 February 2025
Victus Properties Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Victus Properties Limited
Statement of financial position
As at 28 February 2025
28 February 2025
- 1 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Fixed assets
Investment property
4
1,440,000
591,104
Current assets
Debtors
5
3,274
2,289
Cash at bank and in hand
52,950
38,647
56,224
40,936
Creditors: amounts falling due within one year
6
(94,581)
(93,906)
Net current liabilities
(38,357)
(52,970)
Total assets less current liabilities
1,401,643
538,134
Creditors: amounts falling due after more than one year
7
(514,661)
(514,661)
Provisions for liabilities
(189,141)
-
0
Net assets
697,841
23,473
Capital and reserves
Called up share capital
100
100
Other reserves
659,755
-
0
Profit and loss reserves
37,986
23,373
Total equity
697,841
23,473
Victus Properties Limited
Statement of financial position (continued)
As at 28 February 2025
28 February 2025
- 2 -

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 27 November 2025 and are signed on its behalf by:
Mr I L Chandler
Director
Company registration number 07162500 (England and Wales)
Victus Properties Limited
Notes to the financial statements
For the year ended 28 February 2025
- 3 -
1
Accounting policies
Company information

Victus Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Roseberry Close, Ramsbottom, Bury, Lancashire, BL0 9FQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover comprises the aggregate of the fair value of the rental services provided. Turnover is recognised as those services are provided to the occupants of the properties.

1.3
Investment property

Investment properties are recognised at fair value. Revaluation surpluses are recognised in the income statement and are subsequently treated as non-distributable reserves within the statement of financial position. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Victus Properties Limited
Notes to the financial statements (continued)
For the year ended 28 February 2025
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity dividends are recognised when they become legally payable and are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Victus Properties Limited
Notes to the financial statements (continued)
For the year ended 28 February 2025
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Determining the fair value of the investment properties is considered to be a key judgement.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
5
5
4
Investment property
2025
£
Fair value
At 1 March 2024
591,104
Revaluations
848,896
At 28 February 2025
1,440,000

The fair value of the investment properties have been determined by the directors on an open market basis at 28 February 2025. The historic cost of the investment properties is £564,950.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
887
-
0
Other debtors
2,387
2,289
3,274
2,289
Victus Properties Limited
Notes to the financial statements (continued)
For the year ended 28 February 2025
- 6 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
3,428
4,772
Other creditors
91,153
89,134
94,581
93,906
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
514,661
514,661
Creditors which fall due after five years are payable as follows:
Payable other than by instalments
514,661
514,661
8
Secured debts

Included within creditors are mortgages of £514,661 (2024: £514,661). The mortgages are secured against the properties to which they relate.

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