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REGISTERED NUMBER: 13616492 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VRESHP II LIMITED

VRESHP II LIMITED (REGISTERED NUMBER: 13616492)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


VRESHP II LIMITED (REGISTERED NUMBER: 13616492)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,661 -
Investment property 5 1,854,938 1,557,674
1,857,599 1,557,674

CURRENT ASSETS
Debtors 6 454,488 408,267

CREDITORS
Amounts falling due within one year 7 (1,189,226 ) (1,080,242 )
NET CURRENT LIABILITIES (734,738 ) (671,975 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,122,861

885,699

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 (889,200 ) (1,234,026 )
Other reserves 1,734,300 1,734,300
Retained earnings 277,661 385,325
SHAREHOLDERS' FUNDS 1,122,861 885,699

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

VRESHP II LIMITED (REGISTERED NUMBER: 13616492)

BALANCE SHEET - continued
31 DECEMBER 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:





R W H Taylor - Director


VRESHP II LIMITED (REGISTERED NUMBER: 13616492)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Vreshp II Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13616492

Registered office: 3rd Floor
3-5 Rathbone Place
London
W1T 1HJ

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Related party exemption
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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the rental income received or receivable from tenants. Leases that include a rent-free period or stepped rent have their rental income spread over the term of the lease or for the term to the next lease break if it is anticipated that the tenant will exercise their break option.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - over the life of the lease

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

VRESHP II LIMITED (REGISTERED NUMBER: 13616492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' 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, which include trade debtors, other debtors, amounts due from group undertakings 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including trade creditors, other creditors, and amounts owed to group undertakings, that are classified as debt, 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 are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 year 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.

Going concern
The financial statements show a net current liabilities position and the company does not have sufficient current assets to meet its obligations as they fall due for payment. Therefore, the financial statements have been prepared on a basis other than the going concern basis. This basis includes, where applicable, writing the company's assets down to net realisable value. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

3. EMPLOYEES AND DIRECTORS

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

VRESHP II LIMITED (REGISTERED NUMBER: 13616492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Short
leasehold
£   
COST
Additions 2,851
At 31 December 2024 2,851
DEPRECIATION
Charge for year 190
At 31 December 2024 190
NET BOOK VALUE
At 31 December 2024 2,661


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 1,557,674
Revaluations 344,827
Impairments (47,563 )
At 31 December 2024 1,854,938
NET BOOK VALUE
At 31 December 2024 1,854,938
At 31 December 2023 1,557,674

The investment property was valued at 31 December 2024, by professional real estate advisors using an income capitalisation approach.

Oxane Partners Limited acting as security trustee for EQ ECRED Investments I S.a.r.l., have a fixed and floating charge over all the assets of the company as security for the loans held by the parent company, Vreshp (Homelessness) Limited. They also have a fixed and floating charge over the assets of related group companies Vreshp (Specialist Supported) Limited and Vreshp (Affordable) Limited and their subsidiary undertakings.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 210,600 176,286
Other debtors - 41
Accruals 2,179 6,558
Prepayments 241,709 225,382
454,488 408,267

VRESHP II LIMITED (REGISTERED NUMBER: 13616492)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 43,561 2,224
Amounts owed to group undertakings 1,061,830 1,068,070
Deferred income 27,640 -
Accrued expenses 56,195 9,948
1,189,226 1,080,242

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

9. RESERVES
Revaluation
reserve
£   
At 1 January 2024 (1,234,026 )
Transfer on asset revaluation 344,826

At 31 December 2024 (889,200 )

10. POST BALANCE SHEET EVENTS

After the balance sheet date, the company disposed of several investment properties for an aggregate sales price of £441,000.

11. ULTIMATE CONTROLLING PARTY

The immediate parent company is Vreshp (Homelessness) Limited. There is no single ultimate parent company. The ultimate controlling party is Rory O'Neill.