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Registration number: 02953188

Vickery Holman Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Vickery Holman Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Vickery Holman Limited

(Registration number: 02953188)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

9,662

17,365

Tangible assets

5

116,792

75,066

 

126,454

92,431

Current assets

 

Stocks

6

288,113

240,977

Debtors

7

1,002,393

1,124,450

Cash at bank and in hand

 

148,299

296,663

 

1,438,805

1,662,090

Creditors: Amounts falling due within one year

8

(554,434)

(753,437)

Net current assets

 

884,371

908,653

Total assets less current liabilities

 

1,010,825

1,001,084

Creditors: Amounts falling due after more than one year

8

(49,022)

(91,000)

Provisions for liabilities

(33,971)

(15,320)

Net assets

 

927,832

894,764

Capital and reserves

 

Called up share capital

9

105,915

105,915

Share premium reserve

20,163

20,163

Capital redemption reserve

10,788

10,788

Profit and loss account

790,966

757,898

Shareholders' funds

 

927,832

894,764

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.

 

Vickery Holman Limited

(Registration number: 02953188)
Statement of Financial Position as at 30 June 2024 (continued)

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 13 February 2025 and signed on its behalf by:
 


M A Pellow
Director

 

Vickery Holman Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of property consulting.

2

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements and key sources of estimation uncertainty

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

 

Vickery Holman Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover represents amounts chargeable to clients for professional services provided during the year, including recoverable disbursements incurred on client assignments and excluding value added tax.

Turnover is recognised when a right to consideration has been obtained through performance under each contract, and in certain instances accrues as contract activity progresses by reference to the value of work performed. In respect of transactional business, turnover is recognised where a performance condition has been met, for instance on unconditional exchange.

Turnover is not recognised where the right to receive payment is contingent on events outside of the control of the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

Straight line over the life of the lease

Furniture

15% of net book value

Computer equipment

25% straight line

Library

Nil

 

Vickery Holman Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Intangible assets

Software costs and licenses have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Software

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Work in progress is the value of unbilled management and professional time deemed to be recoverable and is stated at the lower of cost less ageing provision, and net realisable value.

Cost comprises of direct staff costs.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Vickery Holman Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 74 (2023 - 74).

4

Intangible assets

Software
 £

Total
£

Cost or valuation

At 1 July 2023

30,432

30,432

At 30 June 2024

30,432

30,432

Amortisation

At 1 July 2023

13,067

13,067

Amortisation charge

7,703

7,703

At 30 June 2024

20,770

20,770

Carrying amount

At 30 June 2024

9,662

9,662

At 30 June 2023

17,365

17,365

 

Vickery Holman Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

5

Tangible assets

Land and buildings
£

Library costs
£

Furniture and computer costs
£

Total
£

Cost or valuation

At 1 July 2023

64,133

542

146,033

210,708

Additions

34,870

-

43,444

78,314

Disposals

-

(542)

(32,069)

(32,611)

At 30 June 2024

99,003

-

157,408

256,411

Depreciation

At 1 July 2023

47,269

-

88,373

135,642

Charge for the year

-

-

27,545

27,545

Eliminated on disposal

-

-

(23,568)

(23,568)

At 30 June 2024

47,269

-

92,350

139,619

Carrying amount

At 30 June 2024

51,734

-

65,058

116,792

At 30 June 2023

16,864

542

57,660

75,066

Included within the net book value of land and buildings above is £51,734 (2023 - £16,864) in respect of long leasehold land and buildings.
 

6

Stocks

2024
£

2023
£

Work in progress

288,113

240,977

7

Debtors

2024
£

2023
£

Trade debtors

623,320

711,977

Other debtors

4,579

844

Prepayments

374,494

411,629

1,002,393

1,124,450

 

Vickery Holman Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Loans and borrowings

42,000

42,000

Trade creditors

57,766

237,408

Taxation and social security

281,717

290,937

Accruals and deferred income

155,751

157,144

Other creditors

17,200

25,948

554,434

753,437

Creditors: amounts falling due after more than one year

2024
£

2023
£

Loans and borrowings

49,022

91,000

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each of £1 each

105,915

105,915

105,915

105,915

       

10

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

11

Dividends

During the year dividends were paid to shareholders totalling £37,088 (2023: £23,545).

 

Vickery Holman Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

12

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £374,929 (2023 - £466,282).

13

Related party transactions

Other transactions with directors

During the year there were transactions with a non-executive director in relation to invoiced consultancy fees. These totalled £2,653 (2023: £6,515) which were in relation to training and staff development.