VSM PROPERTIES LIMITED

VSM PROPERTIES LIMITED

VSM PROPERTIES LIMITED - Company Information

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Company Registration No. 03195057 (England and Wales)
VSM PROPERTIES LIMITED Unaudited accounts for the year ended 31 May 2023
VSM PROPERTIES LIMITED Unaudited accounts Contents
Page
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VSM PROPERTIES LIMITED Company Information for the year ended 31 May 2023
Directors
S Pole M Thyer Mrs V Pole
Secretary
Vivienne Joyce Pole
Company Number
03195057 (England and Wales)
Registered Office
432 Gloucester Road Bristol BS7 8TX
Accountants
Evans Entwistle 432 Gloucester Rd Bristol BS7 8TX
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of VSM PROPERTIES LIMITED for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of VSM PROPERTIES LIMITED for the year ended 31 May 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice 432 Gloucester Rd Bristol BS7 8TX 15 June 2023
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VSM PROPERTIES LIMITED Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Investment property
4
- 
873,000 
Current assets
Debtors
5
3,201 
7,487 
Cash at bank and in hand
255,090 
338,415 
258,291 
345,902 
Creditors: amounts falling due within one year
6
(7,287)
(18,374)
Net current assets
251,004 
327,528 
Total assets less current liabilities
251,004 
1,200,528 
Creditors: amounts falling due after more than one year
7
- 
(197,265)
Provisions for liabilities
Deferred tax
- 
(87,552)
Net assets
251,004 
915,711 
Capital and reserves
Called up share capital
8
300 
300 
Revaluation reserve
- 
541,648 
Profit and loss account
250,704 
373,763 
Shareholders' funds
251,004 
915,711 
For the year ending 31 May 2023 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 June 2023 and were signed on its behalf by
S Pole Director Company Registration No. 03195057
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VSM PROPERTIES LIMITED Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
VSM PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03195057. The registered office is 432, Gloucester Road, Bristol, BS7 8TX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Investment property
2023 
£ 
Fair value at 1 June 2022
873,000 
Disposals
(873,000)
At 31 May 2023
- 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
3,730 
Accrued income and prepayments
- 
3,757 
Other debtors
3,201 
- 
3,201 
7,487 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
4,287 
1,562 
Accruals
3,000 
16,812 
7,287 
18,374 
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VSM PROPERTIES LIMITED Notes to the Accounts for the year ended 31 May 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Loans from directors
- 
197,265 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
300 Ordinary shares of £1 each
300 
300 
9
Average number of employees
During the year the average number of employees was 6 (2022: 6).
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