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REGISTERED NUMBER: 11114627 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

VENGROVE GROUP LIMITED

VENGROVE GROUP LIMITED (REGISTERED NUMBER: 11114627)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


VENGROVE GROUP LIMITED (REGISTERED NUMBER: 11114627)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 106,100 97,128

CURRENT ASSETS
Debtors 5 1,940,058 1,493,938
Cash at bank 300,820 790,762
2,240,878 2,284,700
CREDITORS
Amounts falling due within one year 6 2,260,036 2,340,421
NET CURRENT LIABILITIES (19,158 ) (55,721 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

86,942

41,407

CAPITAL AND RESERVES
Called up share capital 7 115 86
Share premium 19,195 19,195
Other reserves - 7,351
Retained earnings 67,632 14,775
SHAREHOLDERS' FUNDS 86,942 41,407

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by:




R W H Taylor - Director


VENGROVE GROUP LIMITED (REGISTERED NUMBER: 11114627)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Vengrove Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11114627

Registered office: 3rd Floor
3-5 Rathbone Place
London
W1T 1HJ

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Vengrove Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only the period, or in the period of the revision and future periods where the revision affects both current and future periods.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less provision for permanent impairment.

VENGROVE GROUP LIMITED (REGISTERED NUMBER: 11114627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade debtors, other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade creditors, other creditors, and amounts owed to group undertakings, that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation 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 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 is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Share based payments
The company has granted share options with varying exercise dates. The share options have been valued using the latest share transaction as a basis. The fair value is being charged to the profit and loss account over the vesting period.

Going concern
At the balance sheet date, the company was in a net current liability position. The directors have indicated that support will continue from group companies for a period of at least 12 months, to allow the company to settle its obligations as they fall due for payment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

VENGROVE GROUP LIMITED (REGISTERED NUMBER: 11114627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 97,128
Additions 21,072
Disposals (12,100 )
At 31 December 2023 106,100
NET BOOK VALUE
At 31 December 2023 106,100
At 31 December 2022 97,128

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Vengrove Real Estate (UK) Limited
Registered office: 3rd Floor 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ
Nature of business: Property asset management
%
Class of shares: holding
Ordinary 100.00

Vengrove Real Estate Developers Limited
Registered office: 3rd Floor 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ
Nature of business: Property asset management
%
Class of shares: holding
Ordinary 100.00

Vrevp (Karma) Limited
Registered office: 3rd Floor 3-5 Rathbone Place, London, United Kingdom, W1T 1HJ
Nature of business: Holding company
%
Class of shares: holding
Ordinary 100.00

Beyond Apartments OpCo Limited
Registered office: 3rd Floor 3-5 Rathbone Place, London, England, W1T 1HJ
Nature of business: Real estate letting
%
Class of shares: holding
Ordinary 75.00

Hyperion Housing Limited
Registered office: 3rd Floor 3-5 Rathbone Place, London, England, W1T 1HJ
Nature of business: Renting and operating of real estate
%
Class of shares: holding
Ordinary 100.00

VENGROVE GROUP LIMITED (REGISTERED NUMBER: 11114627)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. FIXED ASSET INVESTMENTS - continued

Vengrove SI-Reit Advisors Limited
Registered office: 3rd Floor 3-5 Rathbone Place, London, England, W1T 1HJ
Nature of business: Asset management
%
Class of shares: holding
Ordinary 100.00

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,939,332 1,490,863
Other debtors 726 3,075
1,940,058 1,493,938

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 615,323 669,049
Taxation and social security 13,980 18,305
Other creditors 1,630,733 1,653,067
2,260,036 2,340,421

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
8,620 Ordinary A 0.01 86 86

8. RELATED PARTY DISCLOSURES

As at 31 December 2023, the company owed £626,341 (2022: £669,150) to group companies.

As at 31 December 2023, the company was owed £317,092 (2022: £214,336) by group companies.

At the 31 December 2023, the company was owed £1,622,239 (2022: £1,276,528) from Market Place Investments, a related Jersey company.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R W H Taylor, company director.