VACH Limited - Accounts to registrar (filleted) - small 23.2.5
VACH Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2023 |
| FOR |
| VACH LIMITED |
| VACH LIMITED (REGISTERED NUMBER: 03410828) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| VACH LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JULY 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Pavilion View |
| 19 New Road |
| Brighton |
| East Sussex |
| BN1 1EY |
| VACH LIMITED (REGISTERED NUMBER: 03410828) |
| BALANCE SHEET |
| 31 JULY 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Investment property fair value |
| reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| VACH LIMITED (REGISTERED NUMBER: 03410828) |
| BALANCE SHEET - continued |
| 31 JULY 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| VACH LIMITED (REGISTERED NUMBER: 03410828) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 1. | STATUTORY INFORMATION |
| VACH Limited is a private company, limited by shares, incorporated 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 |
| Turnover |
| Turnover represents rent receivable in respect of the company's investment properties. Turnover is recognised in the profit and loss account over the rental period covered. |
| Tangible fixed assets |
| Depreciation is provided at the fallowing annual rates in order to write off each asset over its estimated useful life. |
| Plant & machinery - 25% reducing balance |
| 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 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 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. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| VACH LIMITED (REGISTERED NUMBER: 03410828) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| equipment |
| £ |
| COST |
| At 1 August 2022 |
| and 31 July 2023 |
| DEPRECIATION |
| At 1 August 2022 |
| Charge for year |
| At 31 July 2023 |
| NET BOOK VALUE |
| At 31 July 2023 |
| At 31 July 2022 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 August 2022 |
| Revaluations | 15,000 |
| At 31 July 2023 |
| NET BOOK VALUE |
| At 31 July 2023 |
| At 31 July 2022 |
| Fair value at 31 July 2023 is represented by: |
| £ |
| Valuation in 2016 | 766,638 |
| Valuation in 2019 | 80,575 |
| Valuation in 2023 | 15,000 |
| Cost | 502,787 |
| 1,365,000 |
| If the investment properties had not been revalued they would have been included at the following historical cost: |
| 2023 | 2022 |
| £ | £ |
| Cost | 502,787 | 502,787 |
| The investment properties were valued on an open market basis on 31 July 2023 by the company's officers . |
| VACH LIMITED (REGISTERED NUMBER: 03410828) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 5. | INVESTMENT PROPERTY - continued |
| The directors consider the value of the investment property as at 31 July 2023 to be fair value. The fair value has been determined by reference to properties of a similar size, condition, location and letting potential to those held by the company. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans due > 1 year | 49,019 | 71,917 |
| Other loans | - | 5,000 |
| 49,019 | 76,917 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| The Barclays Bank loan is secured by a fixed charge over two of the company's investment properties and by a floating charge against all property and assets of the company. |
| 10. | PROVISIONS FOR LIABILITIES |
| 2023 | 2022 |
| £ | £ |
| Deferred tax | 169,493 | 165,743 |
| VACH LIMITED (REGISTERED NUMBER: 03410828) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JULY 2023 |
| 10. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 August 2022 |
| Provided during year |
| Balance at 31 July 2023 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |