Victoria Street Property Limited 31/03/2020 iXBRL
Victoria Street Property Limited 31/03/2020 iXBRL
Company registration number:
08742484
Unaudited filleted financial statements
VICTORIA STREET PROPERTY LIMITED
Contents
Statement of financial position
Notes to the financial statements
VICTORIA STREET PROPERTY LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2020
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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_______ | _______ | ||||||||
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Current assets | |||||||||
Debtors | 6 |
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Cash at bank and in hand |
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_______ | _______ | ||||||||
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Creditors: amounts falling due | |||||||||
within one year | 7 |
(
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(
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_______ | _______ | ||||||||
Net current liabilities |
(
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(
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_______ | _______ | ||||||||
Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 8 |
(
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(
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Provisions for liabilities |
(
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(
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_______ | _______ | ||||||||
Net assets |
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_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account | 9 |
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_______ | _______ | ||||||||
Shareholders funds |
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_______ | _______ | ||||||||
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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.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
30 April 2020
, and are signed on behalf of the board by:
Director
Company registration number:
08742484
VICTORIA STREET PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2020
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 47 Boutport Street, Barnstaple, Devon, EX31 1SQ.
Principal activity
The principal activity of the company is the letting and operating of its own property.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Tangible assets
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:
Investment property
Impairment
Provisions
Financial instruments
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2019:
4
).
5.
Tangible assets
Freehold property | Total | ||
£ | £ | ||
Cost | |||
At 1 April 2019 and 31 March 2020 |
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_______ | _______ | ||
Depreciation | |||
At 1 April 2019 and 31 March 2020 | - | - | |
_______ | _______ | ||
Carrying amount | |||
At 31 March 2020 |
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_______ | _______ | ||
At 31 March 2019 |
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_______ | _______ | ||
6.
Debtors
2020 | 2019 | |||
£ | £ | |||
Trade debtors |
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_______ | _______ | |||
7.
Creditors: amounts falling due within one year
2020 | 2019 | |||
£ | £ | |||
Bank loans and overdrafts |
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Accruals and deferred income |
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Social security and other taxes | 3,331 | 3,243 | ||
Other creditors | 137,435 | 133,435 | ||
_______ | _______ | |||
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_______ | _______ | |||
8.
Creditors: amounts falling due after more than one year
2020 | 2019 | |||
£ | £ | |||
Bank loans and overdrafts |
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_______ | _______ | |||
Included within creditors: amounts falling due after more than one year is an amount of £ 5,208
(2019 £ 20,271 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9.
Reserves
10.
Directors
advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | ||||
Loans to / (from) directors at 1 April 2019 | Loans to / (from) the directors | Balance at 31 March 2020 | ||
£ | £ | £ | ||
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(
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(
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(
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_______ | _______ | _______ | ||
Loans to / (from) directors at 1 April 2018 | Loans to / (from) the directors | Balance at 31 March 2019 | ||
£ | £ | £ | ||
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(
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(
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(
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_______ | _______ | _______ | ||
11.
Related party transactions