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REGISTERED NUMBER: 02305399 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

VESTCAVE LIMITED

VESTCAVE LIMITED (REGISTERED NUMBER: 02305399)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Accountants' Report 2

Statement of Financial Position 3 to 4

Notes to the Financial Statements 5 to 8


VESTCAVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr J M Neill
Mrs J A Neill





SECRETARY: Mrs J A Neill





REGISTERED OFFICE: Baddiant
Alleyns Lane
Cookham Dean
Maidenhead
Berkshire
SL6 9AE





REGISTERED NUMBER: 02305399 (England and Wales)





ACCOUNTANTS: Seymour Taylor Limited
First Floor North
40 Oxford Road
High Wycombe
Buckinghamshire
HP11 2EE

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
VESTCAVE LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vestcave Limited for the year ended 31 July 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Vestcave Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vestcave Limited and state those matters that we have agreed to state to the Board of Directors of Vestcave Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vestcave Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Vestcave Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vestcave Limited. You consider that Vestcave 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 financial statements of Vestcave 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 financial statements.






Seymour Taylor Limited
First Floor North
40 Oxford Road
High Wycombe
Buckinghamshire
HP11 2EE


16 September 2024

VESTCAVE LIMITED (REGISTERED NUMBER: 02305399)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,200,000 1,200,000
1,200,000 1,200,000

CURRENT ASSETS
Debtors 6 - 500
Investments 7 321,464 236,246
Cash at bank 55,905 76,241
377,369 312,987
CREDITORS
Amounts falling due within one year 8 9,208 7,875
NET CURRENT ASSETS 368,161 305,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,568,161

1,505,112

CREDITORS
Amounts falling due after more than one
year

9

(805,275

)

(805,275

)

PROVISIONS FOR LIABILITIES (18,184 ) (5,758 )
NET ASSETS 744,702 694,079

CAPITAL AND RESERVES
Called up share capital 11 61,000 61,000
Fair value reserve 12 329,572 336,137
Retained earnings 354,130 296,942
SHAREHOLDERS' FUNDS 744,702 694,079

VESTCAVE LIMITED (REGISTERED NUMBER: 02305399)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





Mrs J A Neill - Director


VESTCAVE LIMITED (REGISTERED NUMBER: 02305399)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Vestcave Limited is a private company limited by shares and incorporated in England and Wales. The address of the company's registered office is Baddiant, Alleyns Lane, Cookham Dean, Maidenhead, Berkshire, SL6 9AE. The registered number is 02305399.

The presentation currency of these financial statements is Sterling (£), being the currency of the primary economic market in which the entity operates (its functional currency). All amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value.

Turnover
The turnover shown in the statement of comprehensive income represents rents receivable for the year.

Rental income from operating leases, net of any incentives given to the lessees, is recognised on a straight-line basis over the lease term.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life:

Fixtures and fittings - straight line - 10% or 33%

Depreciation methods, useful lives and residual values are reviewed if there is an indication of a significant change since the last annual reporting date in the pattern by which the company expects to consume an asset's future economic benefits

Investment property
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both.

Investment properties are measured at cost upon initial recognition. The initial cost of the property comprises of its purchase price and any directly attributable expenditure.

Subsequently, investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss in the period that they arise. No depreciation is provided in respect of investment properties applying the fair value model.




VESTCAVE LIMITED (REGISTERED NUMBER: 02305399)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued
Taxation
Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Differences between accumulated depreciation and tax allowances for the cost of a fixed asset, if and when all conditions for retaining the tax allowances have been met, are not provided for. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Current asset investments
Investments are initially recognised at fair value which is usually the transaction price (excluding any transaction costs). Subsequently, the investments are measured at fair value through profit or loss except for those shares which cannot be publicly traded or where fair value cannot be reliably measured.

If reliable measurement of fair value cannot be obtained or this measure is no longer available, the investment's cost is deemed to be the fair value at the last point to which a reliable measurement was obtained. These instruments are recognised at cost less impairment until a reliable measure of fair value becomes available.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

VESTCAVE LIMITED (REGISTERED NUMBER: 02305399)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2023
and 31 July 2024 14,374
DEPRECIATION
At 1 August 2023
and 31 July 2024 14,374
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 1,200,000
NET BOOK VALUE
At 31 July 2024 1,200,000
At 31 July 2023 1,200,000

The investment properties are carried at their fair values, which have been determined by the directors on an open market valuation basis.

In respect of the investment properties stated valuations, the comparable historical cost values are as follows:

2024 2023
£ £

Historical cost 849,912 849,912

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 500

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 321,464 236,246

VESTCAVE LIMITED (REGISTERED NUMBER: 02305399)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 5,742 4,484
Other creditors 3,466 3,391
9,208 7,875

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 805,275 805,275

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Director's loan account 805,275 805,275

The directors' loan account is secured by a fixed and floating charge over the company's investment properties. The loan is interest free.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
61,000 Ordinary £1 61,000 61,000

12. RESERVES


Fair Value
Reserve
£
At 1 August 2023336,137
Deferred tax on revaluation of investments(6,565)
At 31 July 2024329,572

The fair value reserve consists of fair value adjustments in respect of the investment properties and associated deferred tax liabilities. Any revaluation gains are transferred from the profit and loss account to separately disclose these non-distributable reserves.