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REGISTERED NUMBER: 13716369 (England and Wales)










Financial Statements

for the Year Ended 31 March 2024

for

VC TKY Limited

VC TKY Limited (Registered number: 13716369)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


VC TKY Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M Abou Chakra
M S Al Hakim
A M Hariri





REGISTERED OFFICE: 13 Montpelier Avenue,
Bexley,
England
DA5 3AP





REGISTERED NUMBER: 13716369 (England and Wales)

VC TKY Limited (Registered number: 13716369)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 6 1,800,000 1,800,000

CURRENT ASSETS
Debtors 7 6,715,454 6,067,452
Cash at bank 983 83
6,716,437 6,067,535
CREDITORS
Amounts falling due within one year 8 (6,742,924 ) (6,036,348 )
NET CURRENT (LIABILITIES)/ASSETS (26,487 ) 31,187
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,773,513

1,831,187


CAPITAL AND RESERVES
Called up share capital 9 1,800,000 1,800,000
Profit and loss account (26,487 ) 31,187
SHAREHOLDERS' FUNDS 1,773,513 1,831,187
1,773,513 1,831,187

VC TKY Limited (Registered number: 13716369)

Balance Sheet - continued
31 March 2024


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 1 October 2024 and were signed on its behalf by:





A M Hariri - Director


VC TKY Limited (Registered number: 13716369)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. GENERAL INFORMATION

VC TKY Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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.

The company's functional and presentational currency is pound sterling.

The Company is a qualifying entity for the purpose of FRS 102 and has elected to take exemption from
disclosure of statement of cash flows.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

GOING CONCERN
The Directors have expressed their willingness to continue to support the company financially for at least the next twelve months from the sign off date and have no intention of recalling their loans until the company is financially able to do so.

The development being undertaken by 3K Mayfair Limited, a related company is expected to achieve practical completion by 31 December 2024. The development is comprised of eight apartments with two of them having been sold off plan and a further two units currently being handled by the legal team to finalise the sales transactions anticipated in October 2024. There are multiple viewings taking place on the remaining units and the directors expect further sales to take place between now and practical completion. All sales have been completed at values in line with the latest valuation completed by Jones Lang LaSalle.


REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.Turnover is recognised when a contract to provide financial services have been entered and approved by both parties.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.


VC TKY Limited (Registered number: 13716369)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

2,850

2,310

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 April 2023
and 31 March 2024 1,800,000
NET BOOK VALUE
At 31 March 2024 1,800,000
At 31 March 2023 1,800,000

VC TKY Limited (Registered number: 13716369)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. FIXED ASSET INVESTMENTS - continued

The company had invested in 3KY Mayfair Limited , and at the time of approval of these accounts, the entity had not yet started to trade.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 6,711,982 6,063,980
Other debtors 3,472 3,472
6,715,454 6,067,452

Amount owed by group undertakings mostly relate to 3KY Mayfair loan notes

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors- interest 1,152,900 543,375
Other loans 4,725,000 4,725,000
Amount owed to group undertakings 863,224 758,348
Corporation tax - 7,315
Accruals and deferred income 1,800 2,310
6,742,924 6,036,348

Other creditors includes payments received in advance for shares issued post year end

Amount owed to group undertakings mostly relates to intercompany balance with parent company, Valpre Capital UK Limited

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
18,000 CALLED UP SHARE CAPITAL £100 1,800,000 1,800,000

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Moganarden Pillay Chelvanaigum FCCA (Senior Statutory Auditor)
for and on behalf of Westlake Clark Audit LLP

11. PARENT COMPANY

The company's immediate parent is Valpre Capital UK Limited.

The accounts for this company is available upon request from the Companies House website www.companieshouse.gov.uk. Their registered office is 13 Montpelier Avenue, Bexley,England, DA5 3AP.