VINCENTIAN HOMES AND SERVICES (VHS) LIMITED Accounts filed on 31-12-2014

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED Accounts filed on 31-12-2014

MSV INVEST LIMITED - Company Information

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VINCENTIAN HOMES AND SERVICES (VHS) LIMITED




Company Registration Number:
03095928 (England and Wales)



Report of the Directors and Unaudited Financial Statements



Period of accounts


Start date: 01st January 2014

End date: 31st December 2014

SUBMITTED

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Contents of the Financial Statements
for the Period Ended 31st December 2014

Company Information
Report of the Directors
Profit and Loss Account
Gains and Losses
Balance sheet
Notes to the Financial Statements

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Company Information
for the Period Ended 31st December 2014




Director: A Richardson
C Greenwood
G Drugan
C Norman
H Barrett
J Lord
Registered office: Metropolitan House 1st Floor
20 Brindley Road
Manchester
M16 9HQ
Company Registration Number: 03095928 (England and Wales)

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Directors' Report Period Ended 31st December 2014

The directors present their report with the financial statements of the company for the period ended 31st December 2014

Principal activities
The principal activity of the company in the period under review was:
Market renting of properties and development agent for the construction of residential property

Directors
The directors shown below have held office during the whole of the period from
01st January 2014 to 31st December 2014
A Richardson
C Greenwood
G Drugan
C Norman
H Barrett

The director(s) shown below were appointed to the company during the period
J Lord on 20 May 2014

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 19 May 2015
And Signed On Behalf Of The Board By:

Name: A Richardson
Status: Director
Name: C Norman
Status: Director

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Profit and Loss Account

for the Period Ended 31st December 2014

Notes 2014
£		 2013
£
Turnover: 1,220,667 5,039,517
Cost of sales: 1,031,376 4,800,029
Gross profit or (loss): 189,291 239,488
Administrative expenses: , 6,136 3,602
Operating profit or (loss): 2 183,155 235,886
Interest payable and similar charges: 132,221 55,307
Profit or (loss) on ordinary activities before taxation: 50,934 180,579
Tax on profit or (loss) on ordinary activities: 3 27,064 50,378
Profit or (loss) for the financial year: 23,870 130,201

The notes form part of these financial statements

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Statement of total recognised gains and losses
31st December 2014

Statement of total recognised gains and losses

The company does not have any gains and losses other than Profit and Loss for the period to report.

The notes form part of these financial statements

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Balance sheet
As at 31st December 2014

Notes 2014
£		 2013
£
Fixed assets
Tangible assets: 4 1,512,493 1,525,884
Total fixed assets: 1,512,493 1,525,884
Current assets
Debtors: 5 12,280 494,210
Cash at bank and in hand: 54,805 14,569
Total current assets: 67,085 508,779
Creditors: amounts falling due within one year 6, 8 135,298 527,127
Net current assets (liabilities): ( 68,213 ) ( 18,348 )
Total assets less current liabilities: 1,444,280 1,507,536
Creditors: amounts falling due after more than one year: 7 1,209,377 1,296,503
Total net assets (liabilities): 234,903 211,033

The notes form part of these financial statements

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Balance sheet
As at 31st December 2014
continued

Notes 2014
£		 2013
£
Capital and reserves
Called up share capital: 9 3 3
Profit and Loss account: 10 234,900 211,030
Total shareholders funds: 234,903 211,033

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 19 May 2015

SIGNED ON BEHALF OF THE BOARD BY:

Name: A Richardson
Status: Director
Name: C Norman
Status: Director

The notes form part of these financial statements

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2014

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared in accordance with the provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008)

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2014

  • 2 . Operating profit or (loss)

    Operating profit or (loss) before tax as stated after charging the following.

    2014 2013
    £ £
    Depreciation - owned assets: 14,387 12,011

    Operating profit is stated after charging depreciation and auditors remuneration for audit of the financial statements. 2014 £2500, 2013 £1660

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2014

  • 3. Taxation

    The tax charge on the profit on ordinary activities for the period was as follows:
    2014 2013
    £ £
    UK Corporation Tax: 27,064 50,378
    Tax on profit or (loss) on ordinary activities: 27,064 50,378
    Profit or (loss) on ordinary activities before taxation: 50,934 180,579
    Profit or (loss) on ordinary activities before taxation multiplied by the rate(s) of Corporation Tax applicable: 10,187 36,116
    Any other adjustments: 16,877 14,262
    Current tax charge or (credit): 27,064 50,378

    UK corporation tax at 20%

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2014

  • 4. Tangible assets

    Land and buildings Plant Machinery Fixtures and fittings Office Equipment Motor vehicles Total
    Cost £ £ £ £ £ £
    At 01st January 2014: 1,591,010 - - - - 1,591,010
    Additions: 996 - - - - 996
    At 31st December 2014: 1,592,006 - - - - 1,592,006
    Depreciation
    At 01st January 2014: 65,126 - - - - 65,126
    Charge for year: 14,387 - - - - 14,387
    At 31st December 2014: 79,513 - - - - 79,513
    Net book value
    At 31st December 2014: 1,512,493 - - - - 1,512,493
    At 31st December 2013: 1,525,884 - - - - 1,525,884

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2014

  • 5. Debtors

    2014 2013
    £ £
    Trade debtors: 11,012 460,454
    Other debtors: 440 32,939
    Prepayments and accrued income: 828 817
    Total: 12,280 494,210

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2014

  • 6. Creditors: amounts falling due within one year

    2014 2013
    £ £
    Bank loans and overdrafts: 47,214 34,014
    Trade creditors: 3,932 219,932
    Taxation and social security: 27,219 24,518
    Accruals and deferred income: 22,930 66,478
    Other creditors: 34,003 182,185
    Total: 135,298 527,127

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2014

  • 7. Creditors: amounts falling due after more than one year

    2014 2013
    £ £
    Bank loans: 628,262 686,499
    Other creditors: 581,115 610,004
    Total: 1,209,377 1,296,503

    Bank loans are secured by way of specific charges on the Company's housing properties. Bank loans are fixed rate between 1.00% to 1.75% above the Bank of England base rate. The amounts owed to the parent undertaking are fixed at rates between 3.445% and 3.69% and are unsecured.

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2014

  • 8. Borrowings

    The following loans are included within creditors:

    Repayable 2014 2013
    £ £
    Within one year: 76,099 61,902
    Between one and five years: 337,434 283,132
    Over five years: 871,943 1,013,371
    Total: 1,285,476 1,358,405

    Bank loans are secured by way of specific charges on the Company's housing properties. Bank loans are fixed rate between 1.00% to 1.75% above the Bank of England base rate. The amounts owed to the parent undertaking are fixed at rates between 3.445% and 3.69% and are unsecured

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2014

  • 9. Called up share capital

    Allotted, called up and paid

    Previous period 2013
    Class Number of shares Nominal value per share Total
    Ordinary shares: 3 1.00
    1.00
    		3
    Total share capital: 3
    Current period 2014
    Class Number of shares Nominal value per share Total
    Ordinary shares: 3 1.00
    1.00
    		3
    Total share capital: 3

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2014

  • 10. Profit and loss account

    2014 2013
    £ £
    Opening balance: 211,030 80,829
    Profit or (loss) for the period: 23,870 130,201
    Equity dividends paid: 0 0
    Retained profit: 234,900 211,030

VINCENTIAN HOMES AND SERVICES (VHS) LIMITED

Notes to the Financial Statements
for the Period Ended 31st December 2014

  • 11. Related party disclosures

    Name of the ultimate controlling party during the period: St Vincent's Housing Association Limited