Silverfin false false 30/09/2024 01/10/2023 30/09/2024 C A Burhop 14/09/2015 P J Burhop 14/09/2015 19 February 2025 The principal activity of the Company during the financial year was that of property rental and investment of financial instruments. 09775324 2024-09-30 09775324 bus:Director1 2024-09-30 09775324 bus:Director2 2024-09-30 09775324 2023-09-30 09775324 core:CurrentFinancialInstruments 2024-09-30 09775324 core:CurrentFinancialInstruments 2023-09-30 09775324 core:Non-currentFinancialInstruments 2024-09-30 09775324 core:Non-currentFinancialInstruments 2023-09-30 09775324 core:ShareCapital 2024-09-30 09775324 core:ShareCapital 2023-09-30 09775324 core:RetainedEarningsAccumulatedLosses 2024-09-30 09775324 core:RetainedEarningsAccumulatedLosses 2023-09-30 09775324 core:Vehicles 2023-09-30 09775324 core:OfficeEquipment 2023-09-30 09775324 core:Vehicles 2024-09-30 09775324 core:OfficeEquipment 2024-09-30 09775324 core:CostValuation 2023-09-30 09775324 core:AdditionsToInvestments 2024-09-30 09775324 core:DisposalsRepaymentsInvestments 2024-09-30 09775324 core:RevaluationsIncreaseDecreaseInInvestments 2024-09-30 09775324 core:CostValuation 2024-09-30 09775324 core:CurrentFinancialInstruments core:Secured 2024-09-30 09775324 bus:OrdinaryShareClass1 2024-09-30 09775324 bus:OrdinaryShareClass2 2024-09-30 09775324 bus:PreferenceShareClass1 2024-09-30 09775324 2023-10-01 2024-09-30 09775324 bus:FilletedAccounts 2023-10-01 2024-09-30 09775324 bus:SmallEntities 2023-10-01 2024-09-30 09775324 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 09775324 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09775324 bus:Director1 2023-10-01 2024-09-30 09775324 bus:Director2 2023-10-01 2024-09-30 09775324 core:Vehicles 2023-10-01 2024-09-30 09775324 core:OfficeEquipment core:TopRangeValue 2023-10-01 2024-09-30 09775324 2022-10-01 2023-09-30 09775324 core:OfficeEquipment 2023-10-01 2024-09-30 09775324 core:CurrentFinancialInstruments 2023-10-01 2024-09-30 09775324 core:Non-currentFinancialInstruments 2023-10-01 2024-09-30 09775324 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 09775324 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 09775324 bus:OrdinaryShareClass2 2023-10-01 2024-09-30 09775324 bus:OrdinaryShareClass2 2022-10-01 2023-09-30 09775324 bus:PreferenceShareClass1 2023-10-01 2024-09-30 09775324 bus:PreferenceShareClass1 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09775324 (England and Wales)

VHP INVESTMENTS LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

VHP INVESTMENTS LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

VHP INVESTMENTS LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
VHP INVESTMENTS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 43,266 54,083
Investment property 4 3,210,000 3,182,882
Investments 5 2,359,469 2,143,769
5,612,735 5,380,734
Current assets
Debtors 6 300 2,450
Cash at bank and in hand 701,372 880,191
701,672 882,641
Creditors: amounts falling due within one year 7 ( 2,262,545) ( 66,756)
Net current (liabilities)/assets (1,560,873) 815,885
Total assets less current liabilities 4,051,862 6,196,619
Creditors: amounts falling due after more than one year 8 0 ( 2,508,662)
Provision for liabilities ( 73,396) ( 10,396)
Net assets 3,978,466 3,677,561
Capital and reserves
Called-up share capital 9 3,300,000 3,300,000
Profit and loss account 11 678,466 377,561
Total shareholders' funds 3,978,466 3,677,561

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of VHP Investments Ltd (registered number: 09775324) were approved and authorised for issue by the Board of Directors on 19 February 2025. They were signed on its behalf by:

C A Burhop
Director
VHP INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
VHP INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

VHP Investments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Half Acre, High Street, Newton Poppleford, EX10 0ED, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net assets of £3,978,466, but net current liabilities of £1,560,873. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 20 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 October 2023 68,675 1,404 70,079
At 30 September 2024 68,675 1,404 70,079
Accumulated depreciation
At 01 October 2023 14,592 1,404 15,996
Charge for the financial year 10,817 0 10,817
At 30 September 2024 25,409 1,404 26,813
Net book value
At 30 September 2024 43,266 0 43,266
At 30 September 2023 54,083 0 54,083

4. Investment property

Investment property
£
Valuation
As at 01 October 2023 3,182,882
Additions 328
Fair value movement 26,790
As at 30 September 2024 3,210,000

Valuation

A full market valuation of investment property was completed by Vickery Holman at the Statement of Financial Position date. The fair value of the Group’s residential investment property at 30 September 2024 have been arrived at on the basis of valuations carried out on that date by external valuers having appropriate relevant professional qualifications and recent experience in the location and category of property being valued. The valuations performed which conform to the Valuations Standards of the Royal Institution of Chartered Surveyors and with the International Valuations Standards (IVS) 2013 were arrived at by reference to market evidence of transaction prices for similar properties. The comparison approach was used for all residential properties which involved reviewing recent market evidence from the sales of similar properties during the period.

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 October 2023 2,143,769 2,143,769
Additions 2,362,595 2,362,595
Disposals ( 2,430,550) ( 2,430,550)
Movement in fair value 283,655 283,655
At 30 September 2024 2,359,469 2,359,469
Carrying value at 30 September 2024 2,359,469 2,359,469
Carrying value at 30 September 2023 2,143,769 2,143,769

6. Debtors

2024 2023
£ £
Trade debtors 300 0
Accrued income 0 2,450
300 2,450

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 308,768 40,632
Taxation and social security 32,003 18,770
Obligations under finance leases and hire purchase contracts 36,315 6,624
Other creditors 1,885,459 730
2,262,545 66,756

The bank loans are secured against the investment properties.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 0 281,453
Obligations under finance leases and hire purchase contracts 0 37,630
Other creditors 0 2,189,579
0 2,508,662

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
270,000 B ordinary shares of £ 1.00 each 270,000 270,000
30,000 Ordinary shares of £ 1.00 each 30,000 30,000
300,000 300,000
3,000,000 Redeemable preference shares of £ 1.00 each 3,000,000 3,000,000
3,300,000 3,300,000

10. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to the directors 1,877,079 2,189,579

No interest was charged on the amounts outstanding during the year. The loan is repayable on demand.

11. Profit and Loss account

The profit and loss reserve balance of £678,466 at the balance sheet date contains unrealised gains of £190,083, net of deferred tax of £63,362, in relation to the company's investment properties.