VSP Beaucliffe Ltd - Accounts to registrar (filleted) - small 23.2.5
VSP Beaucliffe Ltd - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 28 February 2023 |
| for |
| VSP Beaucliffe Ltd |
| VSP Beaucliffe Ltd (Registered number: 13189069) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| VSP Beaucliffe Ltd |
| Company Information |
| for the Year Ended 28 February 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Reedham House |
| 31 King Street West |
| Manchester |
| M3 2PJ |
| VSP Beaucliffe Ltd (Registered number: 13189069) |
| Balance Sheet |
| 28 February 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Retained earnings | 9 | ( |
) | ( |
) |
| 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. |
| VSP Beaucliffe Ltd (Registered number: 13189069) |
| Balance Sheet - continued |
| 28 February 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 |
| VSP Beaucliffe Ltd (Registered number: 13189069) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2023 |
| 1. | STATUTORY INFORMATION |
| VSP Beaucliffe Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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. |
| Going concern |
| The company's financial statements for the year ended 28 Feb 2023 have been prepared on a going concern basis as, after making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| VSP Beaucliffe Ltd (Registered number: 13189069) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2023 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 March 2022 |
| Additions |
| At 28 February 2023 |
| NET BOOK VALUE |
| At 28 February 2023 |
| At 28 February 2022 |
| Fair value at 28 February 2023 is represented by: |
| £ |
| Valuation in 2022 | 378,130 |
| Cost | 1,322,182 |
| 1,700,312 |
| If the investment property had not been revalued they would have been included at the following historical cost: |
| 2023 | 2022 |
| £ | £ |
| Cost | 1,322,182 | 1,221,870 |
| Investment property was valued on an open market basis on 28 February 2023 by the directors . |
| The director does not consider the market value of investment properties to be materially different from the value stated in the financial statements as at 28 February 2023. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to joint ventures | 219,252 | - |
| Other creditors |
| VSP Beaucliffe Ltd (Registered number: 13189069) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2023 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| 8. | PROVISIONS FOR LIABILITIES |
| 2023 | 2022 |
| £ | £ |
| Deferred tax | 94,533 | 71,845 |
| Deferred |
| tax |
| £ |
| Balance at 1 March 2022 |
| Provided during year |
| Balance at 28 February 2023 |
| 9. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 March 2022 | ( |
) | 110,369 |
| Deficit for the year | ( |
) | ( |
) |
| Revaluation reserve | 306,286 | (306,286 | ) | - |
| At 28 February 2023 | ( |
) | (60,268 | ) |
| 10. | RELATED PARTY DISCLOSURES |
| Included in other creditors is the directors' current account balance of £12,171 (2022: £416,409). This is repayable on demand and no interest is chargeable to the company in respect of this balance. |
| Other creditors include £215,435 (2022: £215,435) due to companies in which the director of this company is also a director. These balances are interest free and repayable on demand. |
| Other debtors include £121,918 (2022: £121,918) due from companies in which the director of this company is also a director. These balances are interest free and repayable on demand. |