| REGISTERED NUMBER: |
| Victory Conversions Limited |
| Financial Statements for the Period 21st August 2023 to 31st December 2024 |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 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 |
| Debtors | 5 |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| 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 |
| Work-in-progress |
| Finished goods |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Bank loans and overdrafts (see note 7) |
| Trade creditors |
| Amounts owed to group undertakings |
| Other creditors |
| 7. | LOANS |
| An analysis of the maturity of loans is given below: |
| £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal |
| value: | £ |
| Ordinary | 1 | 1 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 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. |