Registration number:
VWM Holdings Limited
for the
Year Ended 30 June 2024
VWM Holdings Limited
Contents
of The Financial Statements
for the
Year Ended 30 June 2024
Company Information |
|
Accountants' Report |
|
Profit and Loss Account |
|
Balance Sheet |
|
Statement of Changes in Equity |
|
Notes to the Unaudited Financial Statements |
VWM Holdings Limited
Company Information
for the
Year Ended 30 June 2024
Directors |
Mr James Charles Silk Mr Paul Anthony Tanner Mr James Peter Michael Scragg |
Registered office |
|
Accountants |
|
Chartered
Certified
Accountants' Report to the
Board of Directors
on the Preparation of the Unaudited Statutory Accounts of
VWM Holdings Limited
for the
Year
Ended
30 June 2024
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 Limited for the year ended 30 June 2024 as set out on pages 3 to 10 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 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 Limited and state those matters that we have agreed to state to the Board of Directors of VWM Holdings 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 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 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 Limited. You consider that VWM Holdings 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 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.
......................................
Chartered Certified Accountants
Shoeburyness
Essex
SS3 9QE
VWM Holdings Limited
Profit and Loss Account for the Year Ended 30 June 2024
Note |
2024 |
2023 |
|
Turnover |
- |
- |
|
Gross profit/(loss) |
- |
- |
|
Administrative expenses |
( |
( |
|
Operating loss |
(80,872) |
(1,541) |
|
Amounts written off investments |
|
( |
|
Loss before tax |
( |
( |
|
Loss for the financial year |
( |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
VWM Holdings Limited
(Registration number:
12980797
)
Balance Sheet
as at
30 June 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Investments |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
5,713,740 |
5,713,740 |
|
Share premium reserve |
19,586,260 |
19,586,260 |
|
Retained earnings |
(23,166,011) |
(23,118,139) |
|
Shareholders' funds |
2,133,989 |
2,181,861 |
For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
......................................... |
VWM Holdings Limited
Statement of Changes in Equity for the Year Ended 30 June 2024
Share capital |
Share premium |
Retained earnings |
Total |
|
At 1 July 2023 |
|
|
( |
|
Loss for the year |
- |
- |
( |
( |
At 30 June 2024 |
|
|
( |
|
Share capital |
Share premium |
Retained earnings |
Total |
|
At 1 July 2022 |
|
|
( |
|
Loss for the year |
- |
- |
( |
( |
At 30 June 2023 |
5,713,740 |
19,586,260 |
(23,118,139) |
2,181,861 |
VWM Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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.
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.
VWM Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
2 |
Accounting policies (continued) |
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
VWM Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Investments |
2024 |
2023 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 July 2023 |
|
Provision |
|
At 1 July 2023 |
|
Provision |
( |
At 30 June 2024 |
|
Carrying amount |
|
At 30 June 2024 |
|
At 30 June 2023 |
|
The company has reduced the carrying amount of its investment to equal the Net Assets of its wholly owned subsidiary as the subsidiary ceased to trade in January 2023.
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
VWM Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
4 |
Investments (continued) |
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2024 |
2023 |
|||
Subsidiary undertakings |
||||
|
10 Towerfield Road
England |
|
|
|
Subsidiary undertakings |
Victoria Wealth Management Limited The principal activity of Victoria Wealth Management Limited is |
VWM Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
|
Due within one year |
|||
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
|
Accruals and deferred income |
|
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
1,000 |
|
1,000 |
|
|
5,712,740 |
|
5,712,740 |
|
|
|
|