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REGISTERED NUMBER: 13737791 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Vegaprop Limited

Vegaprop Limited (Registered number: 13737791)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Vegaprop Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: S Bard
M Krantz
H E F Sayer





REGISTERED OFFICE: The Roma Building
32 -38 Scrutton Street
London
EC2A 4RQ





REGISTERED NUMBER: 13737791 (England and Wales)






Vegaprop Limited (Registered number: 13737791)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Investments 4 13,031,750 12,904,500

Current assets
Debtors 5 - 3,190,948
Cash in hand 227,195 488,089
227,195 3,679,037
Creditors
Amounts falling due within one year 6 13,129,083 16,461,698
Net current liabilities (12,901,888 ) (12,782,661 )
Total assets less current liabilities 129,862 121,839

Capital and reserves
Called up share capital 100 100
Retained earnings 129,762 121,739
129,862 121,839

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:





H E F Sayer - Director


Vegaprop Limited (Registered number: 13737791)

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

1. Statutory information

Vegaprop 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. 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.

Going concern
The directors have at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' 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
Basic financial assets, which include trade and other debtors 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 unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities
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
Basic financial liabilities, including trade and other creditors and loans from fellow group companies, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Cash at bank and in hand
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less.

Vegaprop Limited (Registered number: 13737791)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. Accounting policies - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

3. Employees and directors

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

4. Fixed asset investments
Other
investments
£   
Cost
At 1 July 2023 12,904,500
Additions 127,250
At 30 June 2024 13,031,750
Net book value
At 30 June 2024 13,031,750
At 30 June 2023 12,904,500

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors - 3,190,948

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 1,200 11,742
Taxation and social security 32,233 33,492
Other creditors 13,095,650 16,416,464
13,129,083 16,461,698

7. Related party disclosures

During the year, the Company paid £8,000 (2023: £18,285) in asset management fees and £2,000 (2023: £500) in corporate governance fees to Jensen Management Limited, a Company under common control. At the year end there was a balance outstanding of £10,600 (2023: £12,600) owed to Jensen Management Limited.

During the year, the Company paid £38,937 (2023: £9,825) in management and accounting fees and £38 recharges to The Estate Office Shoreditch, a Company under common control. At the year end there was a balance outstanding of £nil (2023: £11,142) owed to The Estate Office Shoreditch.

During the year, the Company paid £571,416 (£145,638) in loan interest to R Company 4 Limited, a Company under common control. At the year end, there was a balance outstanding of £136,585 (2023: £107,904) owed to R Company 4. At the year end there was a loan capital balance outstanding of £12,800,000 (2023: £16,148,973).