VWM Holdings Group Limited 13192054 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is Holding shares as investment Digita Accounts Production Advanced 6.30.9574.0 true false false true 13192054 2022-07-01 2023-06-30 13192054 2023-06-30 13192054 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-06-30 13192054 core:CurrentFinancialInstruments 2023-06-30 13192054 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 13192054 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 13192054 core:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments 2023-06-30 13192054 bus:SmallEntities 2022-07-01 2023-06-30 13192054 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 13192054 bus:FullAccounts 2022-07-01 2023-06-30 13192054 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 13192054 bus:RegisteredOffice 2022-07-01 2023-06-30 13192054 bus:Director1 2022-07-01 2023-06-30 13192054 bus:Director2 2022-07-01 2023-06-30 13192054 bus:Director3 2022-07-01 2023-06-30 13192054 bus:Director4 2022-07-01 2023-06-30 13192054 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-07-01 2023-06-30 13192054 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 13192054 bus:Agent1 2022-07-01 2023-06-30 13192054 core:AllSubsidiaries 2022-07-01 2023-06-30 13192054 1 2022-07-01 2023-06-30 13192054 countries:England 2022-07-01 2023-06-30 13192054 core:CostValuation 2022-06-30 13192054 2021-02-10 2022-06-30 13192054 2022-06-30 13192054 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-06-30 13192054 core:CurrentFinancialInstruments 2022-06-30 13192054 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 13192054 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13192054

VWM Holdings Group Limited

Report of the Directors and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

VWM Holdings Group Limited

Contents of The Financial Statements
for the Year Ended 30 June 2023

 

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

VWM Holdings Group Limited

Company Information
for the Year Ended 30 June 2023

Directors

Qagdorm6 Ltd

Mr James Charles Silk

Mr James Peter Michael Scragg

Mr Paul Anthony Tanner

Registered office

St Anns Quay
118 Quayside
Newcastle-upon-Tyne
Tyne and Wear
NE1 3BD

Accountants

Insight Strategic Associates Limited
Chartered Certified Accountants
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
VWM Holdings Group Limited
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of VWM Holdings Group Limited for the year ended 30 June 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
 

This report is made solely to the Board of Directors of VWM Holdings Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of VWM Holdings Group Limited and state those matters that we have agreed to state to the Board of Directors of VWM Holdings Group Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VWM Holdings Group Limited and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that VWM Holdings Group Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of VWM Holdings Group Limited. You consider that VWM Holdings Group Limited is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of VWM Holdings Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Insight Strategic Associates
Chartered Certified Accountants

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

22 February 2024

 

VWM Holdings Group Limited

(Registration number: 13192054 )
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

2,200,000

15,000,000

Current assets

 

Debtors

5

79,255

79,255

Creditors: Amounts falling due within one year

6

(6,432,179)

(6,430,667)

Net current liabilities

 

(6,352,924)

(6,351,412)

Total assets less current liabilities

 

(4,152,924)

8,648,588

Creditors: Amounts falling due after more than one year

6

(8,650,000)

(8,650,000)

Net liabilities

 

(12,802,924)

(1,412)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(12,803,024)

(1,512)

Shareholders' deficit

 

(12,802,924)

(1,412)

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 February 2024 and signed on its behalf by:
 

 

VWM Holdings Group Limited

(Registration number: 13192054 )
Balance Sheet as at 30 June 2023

.........................................
Mr James Charles Silk
Director

 

VWM Holdings Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
St Anns Quay
118 Quayside
Newcastle-upon-Tyne
Tyne and Wear
NE1 3BD
England

These financial statements were authorised for issue by the Board on 22 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

VWM Holdings Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

2

Accounting policies (continued)

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

VWM Holdings Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

2

Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Investments

2023
£

2022
£

Investments in subsidiaries

2,200,000

15,000,000

Subsidiaries

£

Cost or valuation

At 1 July 2022

15,000,000

Provision

Provision

12,800,000

Carrying amount

At 30 June 2023

2,200,000

At 30 June 2022

15,000,000

The company has reduced the carrying amount of its investment to equal the net realisable value of its share in its subsidiary.

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

8

79,255

79,255

   

79,255

79,255

 

VWM Holdings Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

81,423

79,911

Accruals and deferred income

 

756

756

Other creditors

 

6,350,000

6,350,000

 

6,432,179

6,430,667

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

8,650,000

8,650,000

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary £1 Shares of £1 each

100

100

100

100

         

8

Related party transactions

Summary of transactions with subsidiaries

 

VWM Holdings Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

8

Related party transactions (continued)

VWM Holdings Group Limited owns 77.5% of the issued share capital in VWM Holdiongs Limited. VWM Holdings Limited is registered in England and Wales and its registered office is 10 Towerfield Road, Shoeburyness, Essex, SS3 9QE
 

9

Parent and ultimate parent undertaking

The company's immediate parent is Qubic Trustees Ltd in its capacity as trustee of the VWM Holdings Limited Trust, incorporated in England and Wales.