Vimy Ridge Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08943405 (England and Wales)

VIMY RIDGE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

M P Farmar

Mrs M A Farmar

REGISTERED OFFICE:

62 St Andrew's Road

Henley On Thames

Oxfordshire

RG9 1JD

REGISTERED NUMBER:

08943405 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

FIXED ASSETS

Tangible assets

4

-

Investments

5

94,990

Investment property

6

860,000

954,990

CURRENT ASSETS

Debtors

7

-

10,126

Cash at bank

72,741

35,880

72,741

46,006

CREDITORS

Amounts falling due within one year

8

469,017

644,896

NET CURRENT LIABILITIES

(396,276

)

(598,890

)

TOTAL ASSETS LESS CURRENT LIABILITIES

558,714

356,100

CREDITORS

Amounts falling due after more than one
year

9

202,911

-

NET ASSETS

355,803

356,100

CAPITAL AND RESERVES

Called up share capital

11

100

Retained earnings

355,703

356,000

SHAREHOLDERS' FUNDS

355,803

356,100

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and authorised for issue by the Board of Directors and authorised for issue on 13 June 2021 and were signed on its behalf by:

M P Farmar - Director

1.	STATUTORY INFORMATION

Vimy Ridge 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced rental income, excluding value added tax. Turnover is recognised in the period in which the properties are let.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Motor vehicles - 25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2020

and 31 December 2020

34,999

DEPRECIATION

At 1 January 2020

and 31 December 2020

34,999

NET BOOK VALUE

At 31 December 2020

-

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2020

and 31 December 2020

94,990

NET BOOK VALUE

At 31 December 2020

94,990

At 31 December 2019

94,990

The fixed asset investments represent a share in a property syndicate and the investment is subject to valuation by the directors at 31 December 2020 on an open market basis. The methods and significant assumptions used to ascertain the fair value of £94,990 (2019: £94,990) were as follows:

The valuation was prepared having regard to market based evidence for similar properties sold in the local area, subject to any occupational leases where applicable. The valuations principally focused on a continuation of existing use, having regard to the current tenancy positions and rent yield approach.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2020

and 31 December 2020

860,000

NET BOOK VALUE

At 31 December 2020

860,000

At 31 December 2019

860,000

Investment properties were subject to valuation by the directors at 31 December 2020 on an open market basis. The methods and significant assumptions used to ascertain the fair value of £860,000 (2019: £860,000) were as follows:

The valuation was prepared having regard to market based evidence for similar properties sold in the local area, subject to any occupational leases where applicable. The valuations principally focused on a continuation of existing use, having regard to the current tenancy positions and rent yield approach.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

Trade debtors

-

6,796

Prepayments and accrued income

-

3,330

-

10,126

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

Taxation

-

6,824

Other creditors

400,053

518,904

Directors' loan accounts

51,914

109,868

Accruals and deferred income

17,050

9,300

469,017

644,896

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

Other creditors

202,911

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

Other creditors

354,739

201,679

The loans are secured by a fixed charge over all present and future property of the company.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

100

Ordinary

1

100

Vimy Ridge Limited - Accounts to registrar (filleted) - small 18.2

Vimy Ridge Limited - Accounts to registrar (filleted) - small 18.2