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Unaudited Financial Statements |
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for the Period 1 April 2018 to 30 March 2019 |
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for |
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V W Properties Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 1 April 2018 to 30 March 2019 |
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for |
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V W Properties Limited |
V W Properties Limited (Registered number: 09513620) |
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Contents of the Financial Statements |
for the Period 1 April 2018 to 30 March 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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V W Properties Limited |
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Company Information |
for the Period 1 April 2018 to 30 March 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
8 Caroline Point |
62 Caroline Street |
Jewellery Quarter |
Birmingham |
West Midlands |
B3 1UF |
V W Properties Limited (Registered number: 09513620) |
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Balance Sheet |
30 March 2019 |
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30.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges her 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. |
V W Properties Limited (Registered number: 09513620) |
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Balance Sheet - continued |
30 March 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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V W Properties Limited (Registered number: 09513620) |
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Notes to the Financial Statements |
for the Period 1 April 2018 to 30 March 2019 |
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1. | STATUTORY INFORMATION |
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V W Properties Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The company's main place of business is 22 Railway Terrace, Treorchy, Wales |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Computer equipment | - |
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Investment property |
Investment properties being freehold residential properties are held by the company to earn rental income and for |
future capital appreciation. The investment properties are valued by the director at market value. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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 period end and that are expected to apply to the reversal of the |
timing difference. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL (2018 -
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V W Properties Limited (Registered number: 09513620) |
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Notes to the Financial Statements - continued |
for the Period 1 April 2018 to 30 March 2019 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 April 2018 |
and 30 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for period |
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At 30 March 2019 |
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NET BOOK VALUE |
At 30 March 2019 |
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At 31 March 2018 |
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5. | INVESTMENT PROPERTY |
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The fair value adjustment of £159,363 relates solely to the investment property held by the company. |
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Fair value at 30 March 2019 is represented by: |
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£ |
Valuation in 2018 | 312,000 |
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If the investment properties had not been revalued they would have been included at the following historical cost: |
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30.3.19 | 31.3.18 |
£ | £ |
Cost | 152,637 | 152,637 |
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The investment properties were valued on an open market basis on 31 March 2018 by the director . |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.3.19 | 31.3.18 |
£ | £ |
Amounts owed by group undertakings |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.3.19 | 31.3.18 |
£ | £ |
Permats Invest Loan | 90,000 | - |
Matching Capital Loan | 114,445 | - |
Other creditors |
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Accruals and deferred income |
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V W Properties Limited (Registered number: 09513620) |
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Notes to the Financial Statements - continued |
for the Period 1 April 2018 to 30 March 2019 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.3.19 | 31.3.18 |
£ | £ |
Director loan | 389,751 | 412,869 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.3.19 | 31.3.18 |
£ | £ |
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On April 11, 2018, a charge was created over two of the company's investment properties at 41 Bute Street, |
Treorchy and 20 Tyntyla Avenue, Tonypandy. |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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At the year end the director was owed £389,751 by the company. This amount is considered by the director as |
not being repayable in less than twelve months from March 31, 2018. |
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11. | RELATED PARTY DISCLOSURES |
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At the year end the company was owed £388,613 by VW Estates Limited, a fellow subsidiary and £18,300 by |
VW Bistro Café Limited, also a fellow subsidiary. |
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12. | ULTIMATE CONTROLLING PARTY |
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The directors consider that Mrs Jelena van Wieren is the ultimate controlling party by way of her investment in |
VW Group Limited, the parent company of VW Properties Limited. |