Registration number:
Vicom Property Consultants Limited
for the Year Ended 30 November 2024
Vicom Property Consultants Limited
Contents
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Company Information |
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Directors' Report |
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Statement of Income and Retained Earnings |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Vicom Property Consultants Limited
Company Information
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Directors |
P R Harwood S J Harwood |
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Company secretary |
S J Harwood |
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Registered office |
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Accountants |
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Vicom Property Consultants Limited
Directors' Report for the Year Ended 30 November 2024
The directors present their annual report and statement of affairs for Vicom Property Consultants Limited together with the unaudited financial statements for the year ended 30 November 2024.
Principal activity
The principal activity of the company is the provision of consultancy services.
Directors of the company
The directors who served throughout the year and up to date of authorisation of this report were as follows:
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
Small companies provision statement
The directors have taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the directors’ report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.
The directors' report was approved by the
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Vicom Property Consultants Limited
Statement of Income and Retained Earnings
for the Year Ended 30 November 2024
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Note |
2024 |
2023 |
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Revenue |
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Administrative expenses |
( |
( |
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Operating profit |
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Interest payable and similar charges |
- |
( |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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Retained earnings brought forward |
72,127 |
39,223 |
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Dividends paid |
( |
( |
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Retained earnings carried forward |
85,208 |
72,127 |
Vicom Property Consultants Limited
(Registration number: 04117076)
Statement of Financial Position as at 30 November 2024
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Note |
2024 |
2023 |
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Non-current assets |
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Property, plant and equipment |
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- |
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Current assets |
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Receivables |
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Cash at bank and in hand |
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Payables: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Equity |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
Approved and authorised by the
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Director
Vicom Property Consultants Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2024
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General information |
Vicom Property Consultants Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.
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Accounting policies |
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Revenue recognition
Revenue comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Taxation
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Vicom Property Consultants Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2024 (continued)
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2 |
Accounting policies (continued) |
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Property, plant and equipment
Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Computer equipment |
25% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and at bank and are subject to an insignificant risk of change in value.
Receivables
Trade and other receivables that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.
Payables
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other payables are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Vicom Property Consultants Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2024 (continued)
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2 |
Accounting policies (continued) |
Dividends
Dividend distributions to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Taxation |
Tax charged/(credited) in the income statement
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2024 |
2023 |
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Current taxation |
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UK corporation tax |
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The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
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2024 |
2023 |
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Profit before tax |
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Corporation tax at standard rate |
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Decrease from effect of different UK tax rates on some earnings |
( |
( |
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Effect of expense not deductible in determining taxable profit (tax loss) |
- |
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Tax decrease from effect of capital allowances and depreciation |
( |
- |
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Total tax charge |
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Vicom Property Consultants Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2024 (continued)
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Property, plant and equipment |
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Computer equipment |
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Cost |
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Additions |
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At 30 November 2024 |
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Depreciation |
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Charge for the year |
- |
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At 30 November 2024 |
- |
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Carrying amount |
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At 30 November 2024 |
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At 30 November 2023 |
- |
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Receivables |
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2024 |
2023 |
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Other receivables |
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Cash and cash equivalents |
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2024 |
2023 |
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Cash at bank |
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Vicom Property Consultants Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2024 (continued)
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Payables |
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2024 |
2023 |
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Due within one year |
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Trade payables |
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- |
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Directors' loans |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital and reserves |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
The company has one class of share capital which carries no right to fixed income.
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
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Dividends |
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2024 |
2023 |
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£ |
£ |
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Interim dividend of £ |
18,650 |
18,000 |
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Vicom Property Consultants Limited
Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2024 (continued)
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Related party transactions |
The company was under the control of Mr P R and Mrs S J Harwood throughout the current and previous year. They are the directors and shareholders of the company.
Business strategy and consultancy services of £40,000 (2023: £65,000) were provided to Centro Plc during the year, a company in which Mr P R Harwood is a director and has an interest in share capital. Included within debtors is £30,000 (2023: £30,000) due from Centro Plc at 30 November 2024. This amount is unsecured, interest free and repayable on demand.
The company also owed £3,891 (2023: £3,891) to Centro Commercial Ltd, a company of which Mr P R Harwood is also a director.