Varsha Properties Ltd - Accounts

Varsha Properties Ltd - Accounts

VARSHA PROPERTIES LTD - Company Information

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Registered Number: 13277470
England

 

 

 

VARSHA PROPERTIES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 18 March 2021

End date: 31 March 2022

Varsha Properties Ltd
Contents Page
For the period ended 31 March 2022
Director Vijaykumar Ramnarayan
Registered Number 13277470
Registered Office 9 Eccleston Crescent
Romford
Essex
RM6 4QX
Accountants Phoenix Accountancy Service Ltd
21 Heath Drive,
Romford,
Essex
RM2 5QH
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 March 2022.
Principal activities
Principal activity of the company during the financial period was of Buying and selling of own real estate & Other letting and operating of own or leased real estate.
Director
The director who served the company throughout the period was as follows:
Vijaykumar Ramnarayan
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.


----------------------------------
Vijaykumar Ramnarayan
Director

Date approved: 26 November 2022
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise 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 accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Phoenix Accountancy Service Ltd
31 March 2022



....................................................
Phoenix Accountancy Service Ltd
21 Heath Drive,
Romford,
Essex
RM2 5QH
26 November 2022
3
 
 		 Notes
 		 2022
£
Fixed assets    
Tangible fixed assets 3 521,240 
521,240 
Current assets    
Cash at bank and in hand 198 
Creditors: amount falling due within one year 4 (8,218)
Net current liabilities (8,020)
 
Total assets less current liabilities 513,220 
Creditors: amount falling due after more than one year 5 (537,266)
Net liabilities (24,046)
 

Capital and reserves 		   
Called up share capital 6 100 
Profit and loss account (24,146)
Shareholder's funds (24,046)
 


For the period ended 31 March 2022 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 period 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 26 November 2022 and were signed by:


--------------------------------
Vijaykumar Ramnarayan
Director
4
  Equity share capital   Revaluation reserve   Capital redemption reserve   Retained Earnings   Total
£ £ £ £ £
At 18 March 2021 - 
Profit for the period (24,146) (24,146)
Total comprehensive income for the period -  -  -  (24,146) (24,146)
Shares issued 100  100 
Total investments by and distributions to owners 100  -  -  -  100 
At 31 March 2022 100  (24,146) (24,046)
5
General Information
Varsha Properties Ltd is a private company, limited by shares, registered in England, registration number 13277470, registration address 9 Eccleston Crescent, Romford, Essex, RM6 4QX.

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 and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared 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.
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.
2.

Average number of employees

Average number of employees during the period was 0.
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 18 March 2021 -    - 
Additions 521,240    521,240 
Disposals -    - 
At 31 March 2022 521,240    521,240 
Depreciation
At 18 March 2021 -    - 
Charge for period -    - 
On disposals -    - 
At 31 March 2022 -    - 
Net book values
Closing balance as at 31 March 2022 521,240    521,240 
Opening balance as at 18 March 2021 -    - 


4.

Creditors: amount falling due within one year

2022
£
Accrued Expenses 900 
Directors' Current Accounts 7,318 
8,218 

5.

Creditors: amount falling due after more than one year

2022
£
Bank Loans & Overdrafts 360,000 
Directors' Loan Accounts 177,266 
537,266 

6.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2022
£
100 Class A shares of £1.00 each 100 
100 

6