Acorah Software Products - Accounts Production 16.4.675 false true 31 December 2023 19 July 2022 false 1 January 2024 31 December 2024 31 December 2024 14242161 James Stephen Philip Levy Elena Pashevkina Vital Homes Group Ltd 809 Salisbury House 29 Finsbury Circus, London, United Kingdom, EC2M 7AQ true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14242161 2023-12-31 14242161 2024-12-31 14242161 2024-01-01 2024-12-31 14242161 frs-core:CurrentFinancialInstruments 2024-12-31 14242161 frs-core:Non-currentFinancialInstruments 2024-12-31 14242161 frs-core:OtherReservesSubtotal 2024-12-31 14242161 frs-core:ShareCapital 2024-12-31 14242161 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 14242161 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 14242161 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 14242161 frs-bus:SmallEntities 2024-01-01 2024-12-31 14242161 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 14242161 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 14242161 1 2024-01-01 2024-12-31 14242161 frs-bus:Director1 2024-01-01 2024-12-31 14242161 frs-bus:Director2 2024-01-01 2024-12-31 14242161 frs-countries:EnglandWales 2024-01-01 2024-12-31 14242161 2022-07-18 14242161 2023-12-31 14242161 2022-07-19 2023-12-31 14242161 frs-core:CurrentFinancialInstruments 2023-12-31 14242161 frs-core:Non-currentFinancialInstruments 2023-12-31 14242161 frs-core:OtherReservesSubtotal 2023-12-31 14242161 frs-core:ShareCapital 2023-12-31 14242161 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 14242161
Vital Homes Developments Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14242161
31 December 2024 31 December 2023
as restated
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 355,629 698,702
Debtors 5 144,222 33,736
Cash at bank and in hand 164 371
500,015 732,809
Creditors: Amounts Falling Due Within One Year 6 (453,307 ) (462,164 )
NET CURRENT ASSETS (LIABILITIES) 46,708 270,645
TOTAL ASSETS LESS CURRENT LIABILITIES 46,708 270,645
Creditors: Amounts Falling Due After More Than One Year 7 - (308,918 )
NET ASSETS/(LIABILITIES) 46,708 (38,273 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Capital Contribution Reserve 441,299 -
Profit and Loss Account (394,592 ) (38,274 )
SHAREHOLDERS' FUNDS 46,708 (38,273)
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
James Stephen Philip Levy
Director
28 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Vital Homes Developments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14242161 . The registered office is 809 Salisbury House 29 Finsbury Circus, London, EC2M 7AQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Sale of Trading Properties
Turnover from the sale of trading properties is recognised in the income statement when the significant risks and rewards of ownership have been transferred to the buyer, which is usually at the completion.
2.3. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.5. Capital Contribution Reserve
During the year, an amount previously classified as a loan payable to the parent company was reclassified as a capital contribution. The reclassification was made as there are no contractual repayment terms attached to the balance and repayment is neither planned nor probable in the foreseeable future. In accordance with FRS 102, the amount has been recognised directly in equity within a capital contribution reserve, reflecting the substance of the transaction as a contribution from the parent company rather than a liability.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Stocks
31 December 2024 31 December 2023
as restated
£ £
Stock - Properties under development 355,629 698,702
5. Debtors
31 December 2024 31 December 2023
as restated
£ £
Due within one year
Trade debtors - 23
Prepayments and accrued income 12,725 24,736
Deferred tax current asset - 8,977
12,725 33,736
Due after more than one year
Deferred tax asset 131,497 -
144,222 33,736
6. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 December 2023
as restated
£ £
Trade creditors 86 66
Bank loans and overdrafts 448,224 456,707
Other creditors - 5,391
Accruals and deferred income 767 -
Amounts owed to group undertakings 4,230 -
453,307 462,164
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7. Creditors: Amounts Falling Due After More Than One Year
31 December 2024 31 December 2023
as restated
£ £
Amounts owed to group undertakings - 308,918
8. Secured Creditors
Of the creditors the following amounts are secured.
31 December 2024 31 December 2023
as restated
£ £
Bank loans and overdrafts 448,224 456,707
9. Share Capital
31 December 2024 31 December 2023
as restated
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Transactions
Included in creditors due within one year is an amount of £4,230 (2023: £0) owed to its group undertakings. The amount is interest-free and repayable on demand. 
11. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Vital Homes Group Ltd . Vital Homes Group Ltd was incorporated in England and Wales. Copies of the parent company's financial statements may be obtained from the secretary, 809 Salisbury House 29 Finsbury Circus, London, United Kingdom, EC2M 7AQ .
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