Virginia Water Limited - Accounts

Virginia Water Limited - Accounts

VIRGINIA WATER LIMITED - Company Information

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Registered Number: 03079044
England and Wales

 

 

 

VIRGINIA WATER LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2019

End date: 31 December 2019

Virginia Water Limited
Contents Page
For the year ended 31 December 2019
Director Anne-Marie Gillam
Registered Number 03079044
Registered Office 66 Gloucester Road
Bristol
BS7 8BH
Accountants Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
1
The directors present their annual report and the financial statements for the year ended 31 December 2019.
Principal activities
Principal activity of the company during the financial year was of property management.
Director
The director who served the company throughout the year was as follows:
Anne-Marie Gillam
Statement of director's responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Anne-Marie Gillam
Director

Date approved: 17 November 2020
2
Report to the directors on the preparation of the unaudited statutory accounts of Virginia Water Limited for the year ended 31 December 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Virginia Water Limited for the year ended 31 December 2019 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Virginia Water Limited, as a body, in accordance with the terms of our engagement letter dated 04 November 2000 Our work has been undertaken solely to prepare for your approval the accounts of Virginia Water Limited and state those matters that we have agreed to state to the Board of Directors of Virginia Water 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 Virginia Water Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Virginia Water Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Virginia Water Limited. You consider that Virginia Water 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 accounts of Virginia Water 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 accounts
31 December 2019



....................................................
Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
17 November 2020
3
 
 		 Notes
 		 2019
£		   2018
£
Fixed assets      
Tangible fixed assets 2 1,183,352    1,190,758 
Investments 3 164,725    149,240 
1,348,077    1,339,998 
Current assets      
Debtors 4 55,650    49,500 
Cash at bank and in hand 24,616    19,065 
80,266    68,565 
Creditors: amount falling due within one year 5 (96,880)   (129,294)
Net current assets (16,614)   (60,729)
 
Total assets less current liabilities 1,331,463    1,279,269 
Net assets 1,331,463    1,279,269 
 

Capital and reserves 		     
Called up share capital 200    200 
Fair Value Reserves 6 52,562    52,562 
Profit and loss account 1,278,701    1,226,507 
Shareholders funds 1,331,463    1,279,269 
 


For the year ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 17 November 2020 and were signed by:


--------------------------------
Anne-Marie Gillam
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 January 2018 200  1,119,149  1,119,349 
Profit for the year 107,358  107,358 
Total comprehensive income for the year -  107,358  107,358 
Total investments by and distributions to owners -  -  - 
At 31 December 2018 200  1,226,507  1,226,707 
At 01 January 2019 200  1,226,507  1,226,707 
Profit for the year 52,194  52,194 
Total comprehensive income for the year -  52,194  52,194 
Total investments by and distributions to owners -  -  - 
At 31 December 2019 200  1,278,701  1,278,901 
5
General Information
Virginia Water Limited is a private company, limited by shares, registered in England and Wales, registration number 03079044, registration address 66 Gloucester Road, Bristol, , BS7 8BH

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 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.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sale taxes.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
2.

Tangible fixed assets

Cost or valuation Plant and Machinery   Investment properties   Total
  £   £   £
At 01 January 2019 7,406    1,183,352    1,190,758 
Additions -    0    - 
Disposals (7,406)   0    (7,406)
At 31 December 2019 -    1,183,352    1,183,352 
Depreciation
At 01 January 2019 -    0    - 
Charge for year -    0    - 
On disposals -    0    - 
At 31 December 2019 -    0    - 
Net book values
Closing balance as at 31 December 2019 -    1,183,352    1,183,352 
Opening balance as at 01 January 2019 7,406    1,183,352    1,190,758 


3.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2019 149,240    149,240 
Additions -    - 
Disposals (10,100)   (10,100)
Revaluations 25,585    25,585 
At 31 December 2019 164,725    164,725 

4.

Debtors: amounts falling due within one year

2019
£		   2018
£
Other Debtors 55,650    49,500 
55,650    49,500 

5.

Creditors: amount falling due within one year

2019
£		   2018
£
PAYE & Social Security 857    909 
Accrued Expenses 1,884    2,100 
Other Creditors 11,449    11,028 
Directors' Current Accounts 82,690    115,257 
96,880    129,294 

6.

Fair Value Reserves

2019
£		   2018
£
Fair Value Reserve b/fwd 52,562    52,562 
52,562    52,562 

7.

Average number of employees

The average monthly number of employees, including directors, during the year was 3 (2018 : 3)
6