Company registration number 11722140 (England and Wales)
VISION REAL ESTATE HOLDING LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
VISION REAL ESTATE HOLDING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
VISION REAL ESTATE HOLDING LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
100
100
Current assets
Debtors
5
16,217
Cash at bank and in hand
28,151
16,217
28,151
Creditors: amounts falling due within one year
6
(1,551,976)
(1,479,849)
Net current liabilities
(1,535,759)
(1,451,698)
Net liabilities
(1,535,659)
(1,451,598)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(1,535,759)
(1,451,698)
Total equity
(1,535,659)
(1,451,598)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 June 2025 and are signed on its behalf by:
J B Jenson
Director
Company Registration No. 11722140
VISION REAL ESTATE HOLDING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Vision Real Estate Holding Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Gladstone House, 77/79 High Street, Egham, Surrey, United Kingdom, TW20 9HY.
The trading address of the company is Parnham Joinery Works, Parnham Road, Canterbury, CT1 1LQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to the support provided by the parent company. Vision Ejendomme A/S has provided a letter of support confirming that they will provide financial support, as and when required. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Fixed asset investments
Investments in subsidiary undertakings are recognised at cost less impairments provisions.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
Basic financial assets
Basic financial assets, which include 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans 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. Financial liabilities classified as payable within one year are not amortised.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the 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.
VISION REAL ESTATE HOLDING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
4
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
4
Subsidiaries
Details of the company's subsidiaries at 31 December 2024 are as follows:
VISION REAL ESTATE HOLDING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4
Subsidiaries
(Continued)
- 4 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Vision Real Estate Canterbury Limited
77-79 High Street, Egham, TW20 9HY
Ordinary
100.00
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
16,217
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1,539,510
1,467,937
Accruals and deferred income
12,466
11,912
1,551,976
1,479,849
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Paul Creasey
Statutory Auditor:
Azets Audit Services
8
Related party transactions
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due to group undertakings
£
£
Vision Ejendomme A/S
1,024,594
613,056
Vision Real Estate Canterbury Limited
514,916
854,881
VISION REAL ESTATE HOLDING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
9
Parent company
The company's parent undertaking is Vision Ejendomme A/S, which is incorporated in Denmark.
The company's ultimate parent undertaking and joint controlling related parties are Schou Family Invest A/S and LLG A/S, both incorporated in Denmark.
Copies of Schou Family Invest A/S' financial statements can be requested from Tagerupvej 32, DK-6560 Sommersted, Denmark.
Copies of LLG A/S' financial statement can be requested from Randersvej 2C, 8600 Silkeborg, Denmark.