Vesta Properties Agency Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09053544 (England and Wales)

Vesta Properties Agency Limited

Unaudited Financial Statements

for the Year Ended 31 May 2020

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTOR:

Mr R S Dhillon

REGISTERED OFFICE:

13 The Courtyard

Timothy's Bridge Road

Stratford upon Avon

Warwickshire

CV37 9NP

REGISTERED NUMBER:

09053544 (England and Wales)

ACCOUNTANTS:

Grenfell James Associates Limited

13 The Courtyard

Timothys Bridge Road

Stratford Upon Avon

Warwickshire

CV37 9NP

FIXED ASSETS

Tangible assets

4

3,640

4,550

CURRENT ASSETS

Debtors

5

146,631

76,077

Cash at bank

166,183

157,667

312,814

233,744

CREDITORS

Amounts falling due within one year

6

36,874

27,016

NET CURRENT ASSETS

275,940

206,728

TOTAL ASSETS LESS CURRENT LIABILITIES

279,580

211,278

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

279,480

211,178

279,580

211,278

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 June 2021 and were signed by:

Mr R S Dhillon - Director

1.	STATUTORY INFORMATION

Vesta Properties Agency 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

estimated useful life :

Computer equipment - 20% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 June 2019

and 31 May 2020

7,714

DEPRECIATION

At 1 June 2019

3,164

Charge for year

910

At 31 May 2020

4,074

NET BOOK VALUE

At 31 May 2020

3,640

At 31 May 2019

4,550

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

146,631

76,077

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

21,032

14,845

Other creditors

15,842

12,171

36,874

27,016

7.	RELATED PARTY DISCLOSURES

The company has provided loans to KR Contracts Limited, a company in which Mr Dhillon is Director and Shareholder. At the year end £31,348 (2019: £31,430) was owed to the company, repayable on demand.

The company has provided loans to LA Beautiful Limited amounting, a company in which Mr Dhillon is a shareholder. At the year end £38,974 (2019: £37,774) was owed to the company, repayable on demand.

The company has provided loans to Phoenix City Homes Limited, a company in which Mr Dhillon is Director and Shareholder. At the year end £58,006 (2019: £nil) was owed to the company, repayable on demand.