Visionbrook Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03123417 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

VISIONBROOK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

Mr C A Joannou

Mr C Petrides

Mr A C Stylianou

Mr T Tsirtsipis

SECRETARY:

Mr A C Stylianou

REGISTERED OFFICE:

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

REGISTERED NUMBER:

03123417 (England and Wales)

ACCOUNTANTS:

Christiansons Ltd

Chartered Certified Accountants

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

FIXED ASSETS

Investment property

3

2,550,000

2,250,000

CURRENT ASSETS

Debtors

4

17,943

-

Cash at bank

101,883

34,246

119,826

34,246

CREDITORS

Amounts falling due within one year

5

146,230

47,449

NET CURRENT LIABILITIES

(26,404

)

(13,203

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,523,596

2,236,797

CREDITORS

Amounts falling due after more than one year

6

(224,095

)

(236,299

)

PROVISIONS FOR LIABILITIES

(339,458

)

(282,458

)

NET ASSETS

1,960,043

1,718,040

CAPITAL AND RESERVES

Called up share capital

288

288

Fair value reserve

7

1,738,596

1,495,596

Retained earnings

221,159

222,156

SHAREHOLDERS' FUNDS

1,960,043

1,718,040

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2020 and were signed on its behalf by:

Mr C Petrides - Director

Mr A C Stylianou - Director

1.	STATUTORY INFORMATION

Visionbrook Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2019

2,250,000

Revaluations

300,000

At 31 December 2019

2,550,000

NET BOOK VALUE

At 31 December 2019

2,550,000

At 31 December 2018

2,250,000

Fair value at 31 December 2019 is represented by:

£

Valuation in 2016

1,095,654

Valuation in 2017

150,000

Valuation in 2018

600,000

Valuation in 2019

300,000

Cost

404,346

2,550,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.12.19

31.12.18

£

£

Cost

404,346

404,346

The investment property was valued on an open market basis on 28 August 2019 by a professional valuer. .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Related company

17,943

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans and overdrafts

109,897

11,120

Tax

16,279

16,423

Directors' current accounts

1,492

1,344

Accruals and deferred income

18,562

18,562

146,230

47,449

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Bank loans - 1-2 years

11,523

11,366

Bank loans - 2-5 years

35,637

35,165

Bank loans more 5 yr by instal

176,935

189,768

224,095

236,299

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

176,935

189,768

7.

RESERVES

Fair

value

reserve

£

At 1 January 2019

1,495,596

Revaluation

243,000

At 31 December 2019

1,738,596

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Visionbrook Limited for the year ended 31 December 2019 which comprise the Income

Statement, Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Visionbrook Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Visionbrook Limited and state those matters that we have agreed to state to the Board of Directors of Visionbrook Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Visionbrook Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Visionbrook Limited. You consider that Visionbrook Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Visionbrook Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Christiansons Ltd

Chartered Certified Accountants

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

Date: .............................................