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REGISTERED NUMBER: 15084559 (England and Wales)


















Victory Conversions Limited

Financial Statements for the Period 21st August 2023 to 31st December 2024






Victory Conversions Limited (Registered number: 15084559)






Contents of the Financial Statements
for the period 21st August 2023 to 31st December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Victory Conversions Limited

Company Information
for the period 21st August 2023 to 31st December 2024







DIRECTORS: T J Rix
S J Rix
H J Rix
D J Lambert
J I Doyle
R M A Clarke
R E Wilde





REGISTERED OFFICE: 2 Humber Quays
Wellington Street West
Hull
HU1 2BN





REGISTERED NUMBER: 15084559 (England and Wales)





AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Victory Conversions Limited (Registered number: 15084559)

Balance Sheet
31st December 2024

Notes £   
CURRENT ASSETS
Stocks 4 2,342,589
Debtors 5 1,454,292
3,796,881
CREDITORS
Amounts falling due within one year 6 4,159,455
NET CURRENT LIABILITIES (362,574 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(362,574

)

CAPITAL AND RESERVES
Called up share capital 8 1
Retained earnings (362,575 )
SHAREHOLDERS' FUNDS (362,574 )

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 20th May 2025 and were signed on its behalf by:




T J Rix - Director



R E Wilde - Director


Victory Conversions Limited (Registered number: 15084559)

Notes to the Financial Statements
for the period 21st August 2023 to 31st December 2024

1. STATUTORY INFORMATION

Victory Conversions 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.

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

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The accounts have been prepared on the going concern basis because of the continuing support of the parent company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 26 .

Victory Conversions Limited (Registered number: 15084559)

Notes to the Financial Statements - continued
for the period 21st August 2023 to 31st December 2024

4. STOCKS
£   
Raw materials 2,114,211
Work-in-progress 165,883
Finished goods 62,495
2,342,589

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 1,287,498
Amounts owed by group undertakings 15,860
Other debtors 150,934
1,454,292

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts (see note 7) 1,302,799
Trade creditors 762,686
Amounts owed to group undertakings 2,050,128
Other creditors 43,842
4,159,455

7. LOANS

An analysis of the maturity of loans is given below:

£   
Amounts falling due within one year or on demand:
Bank overdrafts 1,302,799

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1 Ordinary 1 1

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

The Report of the Auditors was unqualified.

Michael Stocks ACA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie

10. CONTINGENT LIABILITIES

The company is party to an unlimited debenture, omnibus guarantee and set-off agreement in favour of Lloyds Banking Group in respect of group borrowings. The potential liability under this agreement amounted to £45,505,429

Victory Conversions Limited (Registered number: 15084559)

Notes to the Financial Statements - continued
for the period 21st August 2023 to 31st December 2024

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

The parent company of the group of undertakings for which group financial statements are drawn up and of which the company is a member is J. R. Rix & Sons Limited, registered in England and Wales. J. R. Rix & Sons Limited is also the company's ultimate parent undertaking and its registered office is 2 Humber Quays, Wellington Street West, Hull, HU1 2BN. Copies of J. R. Rix & Sons Limited's financial statements can be obtained from Companies House.