Velida Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06753843 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Velida Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Dawson

P Ligertwood

C B Vecchione

REGISTERED OFFICE:

30 Bankside Court

Stationfields

Kidlington

Oxfordshire

OX5 1JE

REGISTERED NUMBER:

06753843 (England and Wales)

ACCOUNTANTS:

Chapman Robinson and Moore Limited

30 Bankside Court

Stationfields

Kidlington

Oxford

OX5 1JE

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

2,575,000

2,792,500

2,575,000

2,792,500

CURRENT ASSETS

Debtors

6

29,372

15,275

Cash at bank

165,017

91,443

194,389

106,718

CREDITORS

Amounts falling due within one year

7

(58,512

)

(57,449

)

NET CURRENT ASSETS

135,877

49,269

TOTAL ASSETS LESS CURRENT LIABILITIES

2,710,877

2,841,769

CREDITORS

Amounts falling due after more than one year

8

(2,009,548

)

(2,279,548

)

PROVISIONS FOR LIABILITIES

9

(43,450

)

(43,876

)

NET ASSETS

657,879

518,345

CAPITAL AND RESERVES

Called up share capital

3

3

Revaluation reserve

10

215,099

216,551

Retained earnings

442,777

301,791

657,879

518,345

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2021 and were signed on its behalf by:

C B Vecchione - Director

1.	STATUTORY INFORMATION

Velida Properties 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

20% on 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 Profit & Loss Account, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

1,256

DEPRECIATION

At 1 April 2020

and 31 March 2021

1,256

NET BOOK VALUE

At 31 March 2021

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

2,792,500

Disposals

(267,500

)

Revaluations

50,000

At 31 March 2021

2,575,000

NET BOOK VALUE

At 31 March 2021

2,575,000

At 31 March 2020

2,792,500

Investment properties were purchased at historical cost of £2,316,450 (2020: £2,519,675).

Fair value at 31 March 2021 is represented by:

£

Valuation in 2021

2,575,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Trade debtors

26,530

12,200

Other debtors

2,842

3,075

29,372

15,275

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/21

31/3/20

£

£

Trade creditors

40

10

Taxation and social security

37,250

36,256

Other creditors

21,222

21,183

58,512

57,449

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/21

31/3/20

£

£

Other creditors

2,009,548

2,279,548

9.	PROVISIONS FOR LIABILITIES

31/3/21

31/3/20

£

£

Deferred tax

43,450

43,876

Deferred

tax

£

Balance at 1 April 2020

43,876

Charge to Profit & Loss Account during year

9,500

Utilised during year

(9,926

)

Balance at 31 March 2021

43,450

10.

RESERVES

Revaluation

reserve

£

At 1 April 2020

216,551

Deferred tax adjustments

12,823

Transfer

50,000

Transfer on disposal

(64,275

)

At 31 March 2021

215,099

11.	RELATED PARTY DISCLOSURES

Loan from director

Balance B/fwd

2,279,548

Amounts advanced

-

Amounts repaid

(270.000

)

Loan C/fwd

2,009,548