REGISTERED NUMBER: 02452493 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

VLP (NW) Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

Mrs J L Holgate

Mr M L Holgate

Mr P R Holgate

Miss L J Holgate

SECRETARY:

Mrs J L Holgate

REGISTERED OFFICE:

C/O V & R Accountancy Services Limited

Cropton House

Three Tuns Lane

Formby

Merseyside

L37 4AQ

REGISTERED NUMBER:

02452493 (England and Wales)

ACCOUNTANTS:

V & R Accountancy Services Limited

Chartered Certified Accountants

Cropton House

Three Tuns Lane

Formby

Merseyside

L37 4AQ

FIXED ASSETS

Tangible assets

4

36,694

37,700

Investment property

5

2,019,066

2,019,066

2,055,760

2,056,766

CURRENT ASSETS

Debtors

120,530

120,530

Cash at bank

17,579

28,921

138,109

149,451

CREDITORS

Amounts falling due within one year

304,124

312,284

NET CURRENT LIABILITIES

(166,015

)

(162,833

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,889,745

1,893,933

CREDITORS

Amounts falling due after more than one year

1,077,216

1,101,123

NET ASSETS

812,529

792,810

CAPITAL AND RESERVES

Called up share capital

8

75

75

Revaluation reserve

228,074

228,074

Capital redemption reserve

25

25

Retained earnings

584,355

564,636

SHAREHOLDERS' FUNDS

812,529

792,810

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 September 2025 and were signed on its behalf by:

Mrs J L Holgate - Director

1.	STATUTORY INFORMATION

VLP (NW) 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.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold land and property

-

not provided

Plant and machinery

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit and loss.

Taxation

Taxation for the year 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 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.

Rental income

Rental Income from operating leases is recognised on a straight line basis over the term of relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

and 31 March 2025

53,317

DEPRECIATION

At 1 April 2024

15,617

Charge for year

1,006

At 31 March 2025

16,623

NET BOOK VALUE

At 31 March 2025

36,694

At 31 March 2024

37,700

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

2,019,066

NET BOOK VALUE

At 31 March 2025

2,019,066

At 31 March 2024

2,019,066

The Investment properties are valued at open market value. Properties are stated at open market value upon valuations performed by surveyors on behalf of the relevant banking institution.

During the year ended 31 March 2015 properties were subject to valuations by Garside Waddingham Chartered Surveyors and a revaluation was included within the accounts for these properties. The directors believe that the properties which were not valued at this time are being carried at a value which is not significantly different from the current market value (being the historical cost).

On 17th June 2022 properties were subject to valuations by Lamb & Swift Commercial and a revaluation adjustment was included within the accounts for these properties. The directors believe that the properties which were not valued at this time are being carried at a value which is not significantly different from the current market value (being the historical cost).

As at 31 March 2025 the Directors believe that the value in the accounts is not significantly different from the fair value.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2015

390,423

Valuation in 2022

(162,350

)

Cost

1,790,993

2,019,066

6.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due within one year or on demand:

Bank loans

23,907

29,956

Amounts falling due between one and two years:

Bank loans

25,380

23,907

Amounts falling due between two and five years:

Bank loans - 2-5 years

55,543

80,923

Bank loans over 5 years

996,293

996,293

1,051,836

1,077,216

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

1,101,123

1,131,079

The bank loans are secured on the properties to which they relate.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

75

Ordinary

£1

75

75

9.	RELATED PARTY DISCLOSURES

At the year end, the company was owed £114,534 (2024: £114,534) from Positive Project Management Limited, which was a related party by virtue of both companies being under the common control of the directors Mrs J L Holgate and Mr M L Holgate. The director Mr M L Holgate is also a director of both companies.

No amounts were written in the year ended 31 March 2025 in relation to the above intercompany balance which was considered to be recoverable in full.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of VLP (NW) Limited for the year ended 31 March 2025 which comprise the Abridged Income Statement, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of VLP (NW) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of VLP (NW) Limited and state those matters that we have agreed to state to the Board of Directors of VLP (NW) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that VLP (NW) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of VLP (NW) Limited. You consider that VLP (NW) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of VLP (NW) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

V & R Accountancy Services Limited

Chartered Certified Accountants

Cropton House

Three Tuns Lane

Formby

Merseyside

L37 4AQ

16 September 2025