1.
General Information
Velicka Property Group Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
13558721
. The registered office is St James' Hall, Mill Road, Lancing, West Sussex, BN15 0PT.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover represents rents receivable on investment properties for the accounting period.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
|
2.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred Tax
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 from 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 year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2024: 1)
Velicka Property Group Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
4.
Tangible assets
| Fixtures & Fittings | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 September 2024 |
|
| Additions |
|
| As at 31 August 2025 |
|
| Depreciation | |
| As at 1 September 2024 |
|
| Provided during the period |
|
| As at 31 August 2025 |
|
| Net Book Value | |
| As at 31 August 2025 |
|
| As at 1 September 2024 |
|
5.
Investment Property
| 2025 | |
|---|---|
| £ | |
| Fair Value | |
| As at 1 September 2024 |
|
| Additions |
|
| Revaluations | 117,412 |
| As at 31 August 2025 |
|
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Cost | 488,522 | 173,046 | |
|
2025
|
|
|
£
|
|
|
Cost
|
325,273
|
|
Valuation in 2022
|
45,867
|
|
Valuation in 2025
|
117,412
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
|
488,552
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
|
6.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Other debtors | 3,508 | 510 | |
Velicka Property Group Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2025
7.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Other creditors | 89,049 | 73,211 | |
8.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Mortgage |
|
|
|
9.
Secured Creditors
The following secured debts are included within creditors:
The mortgage is secured by fixed charge over the assets in the company including the investment properties.
The mortgage is secured by fixed charge over the assets in the company including the investment properties.
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 259,994 | 57,216 |
11.
Reserves
| Fair value reserve | Profit and Loss Account | |
|---|---|---|
| £ | £ | |
| As at 1 September 2024 |
|
( |
| Profit for the year and total comprehensive income | - |
|
| Transfer to/from Fair value reserve | - | (95,104) |
| Transfer to/from Profit & Loss Account |
|
- |
| As at 31 August 2025 |
|
( |