ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

VESTA PROPERTY SERVICES LIMITED - Company Information

Print Friendly Version

Caseware UK (AP4) 2019.0.227 2019.0.227 2019-12-312019-12-31true2019-01-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10852835 2019-01-01 2019-12-31 10852835 2018-01-01 2018-12-31 10852835 2019-12-31 10852835 2018-12-31 10852835 c:Director1 2019-01-01 2019-12-31 10852835 d:CurrentFinancialInstruments 2019-12-31 10852835 d:CurrentFinancialInstruments 2018-12-31 10852835 d:CurrentFinancialInstruments d:WithinOneYear 2019-12-31 10852835 d:CurrentFinancialInstruments d:WithinOneYear 2018-12-31 10852835 d:ShareCapital 2019-12-31 10852835 d:ShareCapital 2018-12-31 10852835 d:RetainedEarningsAccumulatedLosses 2019-12-31 10852835 d:RetainedEarningsAccumulatedLosses 2018-12-31 10852835 c:OrdinaryShareClass1 2019-01-01 2019-12-31 10852835 c:OrdinaryShareClass1 2019-12-31 10852835 c:OrdinaryShareClass1 2018-12-31 10852835 c:FRS102 2019-01-01 2019-12-31 10852835 c:AuditExempt-NoAccountantsReport 2019-01-01 2019-12-31 10852835 c:FullAccounts 2019-01-01 2019-12-31 10852835 c:PrivateLimitedCompanyLtd 2019-01-01 2019-12-31 10852835 2 2019-01-01 2019-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10852835









VESTA PROPERTY SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2019
 
VESTA PROPERTY SERVICES LIMITED
REGISTERED NUMBER: 10852835

BALANCE SHEET
AS AT 31 DECEMBER 2019

2019
2018
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
-
1

Cash at bank and in hand
 5 
-
32

  
-
33

Creditors: amounts falling due within one year
 6 
(1,624)
(1,550)

Net current liabilities
  
 
 
(1,624)
 
 
(1,517)

Total assets less current liabilities
  
(1,624)
(1,517)

  

Net liabilities
  
(1,624)
(1,517)


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
(1,625)
(1,518)

  
(1,624)
(1,517)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


R C K Robinson
Director

Date: 27 November 2020

The notes on pages 3 to 5 form part of these financial statements.
Page 1
 
VESTA PROPERTY SERVICES LIMITED
REGISTERED NUMBER: 10852835
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2019


Page 2
 
VESTA PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

1.


General information

Vesta Property Services Limited is a private company limited by shares. The company is incorporated in England and Wales and its registered office is Aston House, Cornwall Avenue, London, United Kingdon, N3 1LF. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in pounds sterling and rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is winding down and management and the group have indicated their intention to retain the company with a dormant status for the foreseeable future. 
The only liability due is to the group and the group has indicated its willingness to support the company for at least 12 months from the date of approval of the financial statements and will not call in this debt.
The directors do not consider there to be a material uncertainty to the company's ability to continue as a going concern and are therefore satisfied that the going concern basis is appropriate for the preparation of these financial statements.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3
 
VESTA PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2018 - 2).


4.


Debtors

2019
2018
£
£


Amounts owed by group undertakings
-
1

-
1



5.


Cash and cash equivalents

2019
2018
£
£

Cash at bank and in hand
-
32

-
32



6.


Creditors: Amounts falling due within one year

2019
2018
£
£

Amounts owed to group undertakings
1,624
50

Accruals and deferred income
-
1,500

1,624
1,550


Page 4
 
VESTA PROPERTY SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

7.


Share capital

2019
2018
£
£
Allotted, called up and fully paid



1 (2018 - 1) Ordinary share of £1.00
1
1


8.


Related party transactions

The company has taken advantage of the exemptions available in the accounting standards whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary of the group.


9.


Controlling party

The immediate and ultimate parent company is Vesta Global Holdings Limited. 
The accounts of the company are included in the consolidated financial statements of Vesta Global Holdings Limited, copies of which are available at Companies House. 

 
Page 5