0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 12888216 2023-10-01 2024-09-30 12888216 2024-09-30 12888216 2023-09-30 12888216 2022-10-01 2023-09-30 12888216 2023-09-30 12888216 2022-09-30 12888216 core:FurnitureFittings 2023-10-01 2024-09-30 12888216 bus:Director1 2023-10-01 2024-09-30 12888216 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 12888216 core:FurnitureFittings 2023-09-30 12888216 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 12888216 core:FurnitureFittings 2024-09-30 12888216 core:WithinOneYear 2024-09-30 12888216 core:WithinOneYear 2023-09-30 12888216 core:AfterOneYear 2024-09-30 12888216 core:AfterOneYear 2023-09-30 12888216 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12888216 core:ShareCapital 2024-09-30 12888216 core:ShareCapital 2023-09-30 12888216 core:RetainedEarningsAccumulatedLosses 2024-09-30 12888216 core:RetainedEarningsAccumulatedLosses 2023-09-30 12888216 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 12888216 core:FurnitureFittings 2023-09-30 12888216 bus:Director1 2024-09-30 12888216 bus:SmallEntities 2023-10-01 2024-09-30 12888216 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 12888216 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 12888216 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 12888216 bus:FullAccounts 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 12888216

VERINA GROUP LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 September 2024

VERINA GROUP LTD

STATEMENT OF FINANCIAL POSITION

30 September 2024

| 2024 | 2023
Note | £ | £

Fixed Assets

Tangible assets | 4 | 758,075 | 1,161,503

Current Assets

Debtors | 5 | 135,274 | –
Cash at bank and in hand | 2,427 | 231
| ----------- | -----
| 137,701 | 231

Creditors: amounts falling due within one year | 6 | 285,749 | 375,785
| ----------- | -----------
Net Current Liabilities | 148,048 | 375,554
| ----------- | --------------
Total Assets Less Current Liabilities | 610,027 | 785,949

Creditors: amounts falling due after more than one year | 7 | 397,799 | 508,738

Provisions | 37,500 | 80,500
| ----------- | -----------
Net Assets | 174,728 | 196,711
| ----------- | -----------

VERINA GROUP LTD

STATEMENT OF FINANCIAL POSITION (continued)

30 September 2024

| 2024 | 2023
Note | £ | £

Capital and Reserves

Called up share capital | 200 | 200
Profit and loss account | 174,528 | 196,511
| ----------- | -----------
Shareholders Funds | 174,728 | 196,711
| ----------- | -----------

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 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 March 2026 , and are signed on behalf of the board by:

B J Chamberlain |
Director |

Company registration number: 12888216

VERINA GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Dial House, 41 Main Road, Washingborough, Lincoln, LN4 1AU.
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
Turnover represents rental income receivable on let properties.
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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 and fittings | - | 20% straight line

Investment Property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of Fixed Assets
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity 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.
4. Tangible Assets

| Freehold property | Fixtures and fittings | Total
| £ | £ | £
Cost |  |  |
At 1 October 2023 | 1,150,000 | 17,141 | 1,167,141
Disposals | ( 400,000) | – | ( 400,000)
| -------------- | --------- | --------------
At 30 September 2024 | 750,000 | 17,141 | 767,141
| -------------- | --------- | --------------
Depreciation |  |  |
At 1 October 2023 | – | 5,638 | 5,638
Charge for the year | – | 3,428 | 3,428
| -------------- | --------- | --------------
At 30 September 2024 | – | 9,066 | 9,066
| -------------- | --------- | --------------
Carrying amount |  |  |
At 30 September 2024 | 750,000 | 8,075 | 758,075
| -------------- | --------- | --------------
At 30 September 2023 | 1,150,000 | 11,503 | 1,161,503
| -------------- | --------- | --------------

Included within the above is investment property as follows:

| £
At 1 October 2023 | 1,150,000
Disposals | ( 400,000)
| --------------
At 30 September 2024 | 750,000
| --------------

Investment properties have been valued during the period at fair value by the director on the basis of market values and expected yields.
5. Debtors

| 2024 | 2023
| £ | £
Other debtors | 135,274 | –
| ----------- | -----

6. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | – | 16,000
Corporation tax | 26,256 | 257
Other creditors | 259,493 | 359,528
| ----------- | -----------
| 285,749 | 375,785
| ----------- | -----------

Bank borrowing is secured against the assets of the company.
7. Creditors: amounts falling due after more than one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 397,799 | 508,738
| ----------- | -----------

Bank borrowing is secured against the assets of the company.
8. Director's Advances, Credits and Guarantees
During the year the director entered into the following advances and credits with the company:

| 2024
|  | Balance brought forward | Advances/ (credits) to the director | Balance outstanding
|  | £ | £ | £
| B J Chamberlain | – | 135,274 | 135,274
|  | ----- | ----------- | -----------

| 2023
|  | Balance brought forward | Advances/ (credits) to the director | Balance outstanding
|  | £ | £ | £
| B J Chamberlain | – | – | –
|  | ----- | ----- | -----

The advance is repayable on demand and subject to interest at the official rate.