Virginia Water Limited - Accounts

VIRGINIA WATER LIMITED - Company Information

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Registered Number: 03079044

England and Wales

VIRGINIA WATER LIMITED

Filleted Unaudited Financial Statements

Period of accounts

Start date: 01 January 2020

End date: 31 December 2020

Virginia Water Limited
Contents Page
For the year ended 31 December 2020

Company information	1
Director's report	2
Accountants' report	3
Statement of financial position	4
Notes to the financial statements	5
Statement of changes in equity	6

Virginia Water Limited
Company Information
For the year ended 31 December 2020

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

Virginia Water Limited
Director's Report
For the year ended 31 December 2020

The directors present their annual report and the financial statements for the year ended 31 December 2020

Principal activities

Principal activity of the company during the financial year was that 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 regulation.

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 (United Kingdom Accounting Standards and applicable law). 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 of 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 judgments and accounting estimates that are reasonable and prudent
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 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: 08 August 2021

Virginia Water Limited Accountants' Report For the year ended 31 December 2020
Report to the directors on the preparation of the unaudited statutory accounts of Virginia Water Limited for the year ended 31 December 2020 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 2020 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 companys 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. 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 2020 .................................................... Bond & Co Chartered Certified Accountants 66 Gloucester Road Bishopston Bristol BS7 8BH 08 August 2021 3

Virginia Water Limited
Accountants' Report
For the year ended 31 December 2020

Report to the directors on the preparation of the unaudited statutory accounts of Virginia Water Limited for the year ended 31 December 2020
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 2020 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 companys 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. 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 2020

....................................................
Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
08 August 2021

Virginia Water Limited
Statement of Financial Position
As at 31 December 2020

	Notes	2020 £	2019 £
Fixed assets
Tangible fixed assets	3	1,250,000	1,183,352
Investments	4	162,695	164,725
		1,412,695	1,348,077
Current assets
Stocks	5	1,513	0
Debtors	6	4,038	55,650
Cash at bank and in hand		20,731	24,616
		26,282	80,266
Creditors: amount falling due within one year	7	(131,941)	(96,880)
Net current liabilities		(105,659)	(16,614)

Total assets less current liabilities		1,307,036	1,331,463
Provisions for liabilities	8	(44,822)	0
Net assets		1,262,214	1,331,463

Capital and reserves
Called up share capital		200	200
Fair Value Reserves	9	211,083	52,562
Profit and loss account		1,050,931	1,278,701
Shareholders funds		1,262,214	1,331,463

For the year ended 31 December 2020 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
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 08 August 2021 and were signed by:

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

Virginia Water Limited
Statement of Changes in Equity
For the year ended 31 December 2020

	Equity share capital	Retained Earnings	Total
	£	£	£
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
At 01 January 2020	200	1,278,701	1,278,901
Profit for the year		(99,045)	(99,045)
Transfers to/from other reserves		(128,725)	(128,725)
Total comprehensive income for the year	-	(227,770)	(227,770)
Total investments by and distributions to owners	-	-	-
At 31 December 2020	200	1,050,931	1,051,131

Virginia Water Limited
Notes to the Financial Statements
For the year ended 31 December 2020

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.

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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

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.

Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.

Investment properties

Investment properties are included in the statement of financial position at their open market value at the statement of financial position date. The resulting aggregate surplus or deficit is transferred to non-distributable reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the statement of financial position to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Investment properties were revalued during the year by the director.
Deferred taxation is provided on these gains at the rate expected to apply when the properties are
sold.

Fixed asset investments

Fixed asset investments are are included in the statement of financial position at their market

value at the statement of financial position date. The resulting aggregate surplus or deficit is

transferred to non-distributable reserve.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 3 (2019 : 3).

Tangible fixed assets

Cost or valuation	Investment properties	Total
	£	£
At 01 January 2020	1,183,352	1,183,352
Additions	-	-
Disposals	-	-
Revaluations	66,648	66,648
At 31 December 2020	1,250,000	1,250,000
Depreciation
At 01 January 2020	-	-
Charge for year	-	-
On disposals	-	-
At 31 December 2020	-	-
Net book values
Closing balance as at 31 December 2020	1,250,000	1,250,000
Opening balance as at 01 January 2020	1,183,352	1,183,352

Investments

Cost	Other investments other than loans	Total
	£	£
At 01 January 2020	164,725	164,725
Additions	-	-
Disposals	(10,000)	(10,000)
Revaluations	7,970	7,970
At 31 December 2020	162,695	162,695

Stocks

	2020 £		2019 £
Stocks	1,513		0
	1,513		0

Debtors: amounts falling due within one year

	2020 £		2019 £
Other Debtors	4,038		55,650
	4,038		55,650

Creditors: amount falling due within one year

	2020 £	2019 £
PAYE & Social Security	1,530	857
Accrued Expenses	1,884	1,884
Other Creditors	12,177	11,449
Directors' Current Accounts	116,350	82,690
	131,941	96,880

Provisions for liabilities

	2020 £		2019 £
Deferred Tax	44,822		0
	44,822		0

Fair Value Reserves

	2020 £		2019 £
Non-distributable Reserves	211,083		52,562
	211,083		52,562