VF Loughton Property Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11307265 (England and Wales)

Unaudited Financial Statements

for the Period 1 May 2019 to 30 September 2020

for

VF Loughton Property Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

V D Goldstein

REGISTERED OFFICE:

3rd Floor, Solar House

1-9 Romford Road

London

E15 4RG

REGISTERED NUMBER:

11307265 (England and Wales)

ACCOUNTANTS:

Jones & Partners Limited

3rd Floor Solar House

1-9 Romford Road

London

E15 4RG

FIXED ASSETS

Tangible assets

4

4,658

-

Investment property

5

1,440,742

1,108,870

1,445,400

1,108,870

CURRENT ASSETS

Debtors

6

1

1

CREDITORS

Amounts falling due within one year

7

678,726

508,473

NET CURRENT LIABILITIES

(678,725

)

(508,472

)

TOTAL ASSETS LESS CURRENT LIABILITIES

766,675

600,398

CREDITORS

Amounts falling due after more than one year

8

825,483

628,259

NET LIABILITIES

(58,808

)

(27,861

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(58,809

)

(27,862

)

(58,808

)

(27,861

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 June 2021 and were signed by:

V D Goldstein - Director

1.	STATUTORY INFORMATION

VF Loughton Property 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 financial statements are presented in Pound Sterling (£) which is the functional currency of the company and rounded to the nearest £.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures, fittings and equipment - 20% reducing balance basis

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.

Investment property, which is property held to earn rentals and / or capital appreciation, is initially recognised at cost,which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss.

Where the fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed asset.

Taxation

Taxation for the period 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 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 period 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.

Going concern

At 30 September 2020 the company made a loss before tax of £30,947 (2019 - £27,862) and has net liabilities of £58,808 (2019 - £27,861).

The director is closely monitoring the impact of COVID-19 on the activities of the company and has received confirmation from The V Fund Group Limited, its' parent entity, that the Group will continue to support the operations of the company for the foreseeable future to allow it to be able to meet its own liabilities as they fall due.

On the basis of his assessment of the company's financial position, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

5,823

At 30 September 2020

5,823

DEPRECIATION

Charge for period

1,165

At 30 September 2020

1,165

NET BOOK VALUE

At 30 September 2020

4,658

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2019

1,108,870

Additions

331,872

At 30 September 2020

1,440,742

NET BOOK VALUE

At 30 September 2020

1,440,742

At 30 April 2019

1,108,870

The investment property is stated at cost. The director does not consider the fair value to be materially different to the cost.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

1

1

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

63,955

-

Other creditors

614,771

508,473

678,726

508,473

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

825,483

628,259

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

885,261

628,259

The V Fund Limited and V D Goldstein have provided guarantees for the bank loan.