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REGISTERED NUMBER: 09919319 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

VENGROVE REAL ESTATE (UK) LIMITED

VENGROVE REAL ESTATE (UK) LIMITED (REGISTERED NUMBER: 09919319)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


VENGROVE REAL ESTATE (UK) LIMITED (REGISTERED NUMBER: 09919319)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,174 28,319
Investments 5 85,000 75,000
103,174 103,319

CURRENT ASSETS
Debtors 6 896,009 411,714
Cash at bank 394,560 683,849
1,290,569 1,095,563
CREDITORS
Amounts falling due within one year 7 639,453 446,981
NET CURRENT ASSETS 651,116 648,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

754,290

751,901

CREDITORS
Amounts falling due after more than one
year

8

(36,111

)

(114,445

)

PROVISIONS FOR LIABILITIES (2,650 ) (4,277 )
NET ASSETS 715,529 633,179

CAPITAL AND RESERVES
Called up share capital 9 164,100 164,100
Retained earnings 551,429 469,079
SHAREHOLDERS' FUNDS 715,529 633,179

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 director acknowledges his 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.

VENGROVE REAL ESTATE (UK) LIMITED (REGISTERED NUMBER: 09919319)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 24 September 2024 and were signed by:





R W H Taylor - Director


VENGROVE REAL ESTATE (UK) LIMITED (REGISTERED NUMBER: 09919319)

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


1. STATUTORY INFORMATION

Vengrove Real Estate (UK) 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: 09919319

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 as modified by the revaluation of certain assets.

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 that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - Straight line over 5 years
Fixtures and fittings - Straight line over 3 years
Computer equipment - Straight line over 4 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

VENGROVE REAL ESTATE (UK) LIMITED (REGISTERED NUMBER: 09919319)

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
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

VENGROVE REAL ESTATE (UK) LIMITED (REGISTERED NUMBER: 09919319)

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


2. ACCOUNTING POLICIES - continued

Going concern
These accounts have been prepared on the going concern basis. Based on current trading and future expectations, the director is confident the company will continue to trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 7,924 16,194 40,801 64,919
Additions - 521 3,663 4,184
Disposals - - (1,352 ) (1,352 )
At 31 December 2023 7,924 16,715 43,112 67,751
DEPRECIATION
At 1 January 2023 2,113 12,421 22,066 36,600
Charge for year 1,585 1,437 11,228 14,250
Eliminated on disposal - - (1,273 ) (1,273 )
At 31 December 2023 3,698 13,858 32,021 49,577
NET BOOK VALUE
At 31 December 2023 4,226 2,857 11,091 18,174
At 31 December 2022 5,811 3,773 18,735 28,319


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023 75,000
Revaluations 10,000
At 31 December 2023 85,000
NET BOOK VALUE
At 31 December 2023 85,000
At 31 December 2022 75,000


VENGROVE REAL ESTATE (UK) LIMITED (REGISTERED NUMBER: 09919319)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 669,611 181,180
Amounts owed by group undertakings 73,826 67,584
Other debtors 62,761 63,599
Accrued Income - 1,015
Prepayments 89,811 98,336
896,009 411,714

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 156,667
Trade creditors 23,762 32,606
Amounts owed to group undertakings 299,004 66,759
Tax 36,504 -
Social security and other taxes 23,973 5,523
VAT 200,448 136,977
Deferred income 21,106 12,603
Accrued expenses 34,656 35,846
639,453 446,981

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years - 78,334
Other creditors 36,111 36,111
36,111 114,445

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100
164,000 Preference 1 164,000 164,000
164,100 164,100

10. OTHER FINANCIAL COMMITMENTS

The company had outstanding commitments in respect of operating leases at 31 December 2022 of £490,089 (2022: £673,873l).

VENGROVE REAL ESTATE (UK) LIMITED (REGISTERED NUMBER: 09919319)

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


11. RELATED PARTY DISCLOSURES

As at 31 December 2023 the company was owed £73,826 (2022: £61,895) from companies of which Mr R Taylor is a director and owed £299,004 (2022: £66,759) to companies of which Mr R Taylor is a director.

As at 31 December 2023 the company was owed £Nil (2022: £5,689) from other related companies with common control.

During the year the company raised sales invoices with a total value of £720,000 (2022: £495,000) to Vengrove Real Estate Developers Limited, a group company.

12. ULTIMATE CONTROLLING PARTY

The immediate parent company is Vengrove Group Limited.
The ultimate controlling party is R W H Taylor.