George Verno Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00960830

George Verno Properties Limited

Filleted Unaudited Financial Statements

31 March 2025

George Verno Properties Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

George Verno Properties Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of George Verno Properties Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of George Verno Properties Limited for the year ended 31 March 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.

BROOKS & CO. Chartered Accountants

9 Cheam Road Ewell Epsom Surrey KT17 1SP

22 December 2025

George Verno Properties Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	1,801,414	1,801,414
Investments	5	60,000	60,000
		------------	------------
		1,861,414	1,861,414

Current assets

Cash at bank and in hand	3,881	5,047

Creditors: amounts falling due within one year	6	102,890	127,449
		---------	---------
Net current liabilities		99,009	122,402
		------------	------------
Total assets less current liabilities		1,762,405	1,739,012
		------------	------------
Net assets		1,762,405	1,739,012
		------------	------------

Capital and reserves

Called up share capital	137	137
Share premium account	59,997	59,997
Revaluation reserve	( 3,973,883)	( 3,973,883)
Profit and loss account	5,676,154	5,652,761
	------------	------------
Shareholders funds	1,762,405	1,739,012
	------------	------------

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 income and retained earnings has not been delivered.

For the 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.

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 .

George Verno Properties Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

G A Judd
Director

Company registration number: 00960830

George Verno Properties Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lodge House, PO Box 35 Lupton Road, Wallingford, Oxon, OX10 9WA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Revenue recognition

The turnover in the profit and loss account represents rent receivable during the year.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings	-	10% straight line
Office Equipment	-	10% straight line

4. Tangible assets

	Freehold property	Long leasehold property	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024 and 31 March 2025	924,012	877,402	548	5,396	1,807,358
	---------	---------	----	-------	------------
Depreciation
At 1 April 2024 and 31 March 2025	–	–	548	5,396	5,944
	---------	---------	----	-------	------------
Carrying amount
At 31 March 2025	924,012	877,402	–	–	1,801,414
	---------	---------	----	-------	------------
At 31 March 2024	924,012	877,402	–	–	1,801,414
	---------	---------	----	-------	------------

5. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	60,000
	--------
Impairment
At 1 April 2024 and 31 March 2025	–
	--------

Carrying amount
At 31 March 2025	60,000
	--------
At 31 March 2024	60,000
	--------

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Definite Finance Company Ltd	Ordinary	100

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	95,008	114,397
Corporation tax	5,682	10,132
Other creditors	2,200	2,920
	---------	---------
	102,890	127,449
	---------	---------

7. Related party transactions

The company was under the control of G A Judd throughout the current and previous year. G A Judd is the managing director and majority shareholder. The company owns 100% of the issued share capital of Definite Finance Company Limited, a UK registered company. G A Judd , has given a personal guarantee to the Company's bankers to secure the Company's borrowings.