Vector Property Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06693053 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2020

FOR

VECTOR PROPERTY MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D A Owen

SECRETARY:

Mrs S J Owen

REGISTERED OFFICE:

3rd Floor Vantage House

6-7 Claydons Lane

Rayleigh

Essex

SS6 7UP

REGISTERED NUMBER:

06693053 (England and Wales)

FIXED ASSETS

Tangible assets

4

5,666

6,910

CURRENT ASSETS

Debtors

5

15,970

1,463

Cash at bank and in hand

57,922

120,052

73,892

121,515

CREDITORS

Amounts falling due within one year

6

(56,512

)

(69,597

)

NET CURRENT ASSETS

17,380

51,918

TOTAL ASSETS LESS CURRENT LIABILITIES

23,046

58,828

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

23,044

58,826

SHAREHOLDERS' FUNDS

23,046

58,828

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 24th June 2020 and were signed by:

D A Owen - Director

1.	STATUTORY INFORMATION

Vector Property Management 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.

Turnover

Turnover represents income received from property management.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

33% on reducing balance

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1st May 2019

and 30th April 2020

27,247

DEPRECIATION

At 1st May 2019

20,337

Charge for year

1,244

At 30th April 2020

21,581

NET BOOK VALUE

At 30th April 2020

5,666

At 30th April 2019

6,910

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

15,970

1,463

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

3,974

259

Taxation and social security

3,867

17,781

Other creditors

48,671

51,557

56,512

69,597

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

2

Ordinary

£1

2

2

8.	RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions with related parties:

Sales to related parties

Party

2020

2019

Relationship

DGM Investment Company Limited

20,000

30,000

Common Director

Loans to related parties

Party

2020

2019

Relationship

D A Owen

2

2

Director

Loans from related parties

Party

2020

2019

Relationship

Vector Capital Finance Limited

51,319

51,319

Common Directors

SJO Enterprises Limited

17,114

-

Director's spouse is a Director

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Mr D Owen, and Blackheath Enterprises Ltd, a company registered in

Guernsey, who each hold 50% of the company's issued share capital.