Vernon Developments UK Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 05015617 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Vernon Developments UK Ltd

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

J R Vernon

Miss L Vernon

M Vernon

V R Vernon

SECRETARY:

Miss L Vernon

REGISTERED OFFICE:

Lyster Road

Bootle

Liverpool

Merseyside

L20 1AS

REGISTERED NUMBER:

05015617 (England and Wales)

AUDITORS:

Douglas Fairless Partnership

Chartered Certified Accountants

and Statutory Auditors

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of land rental and sale of scrap metal.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

J R Vernon

Miss L Vernon

M Vernon

V R Vernon

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Douglas Fairless Partnership, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

V R Vernon - Director

22 September 2025

FIXED ASSETS

Tangible assets

4

3,060,280

3,074,818

CURRENT ASSETS

Debtors

5

55,644

98,078

Cash at bank

185,851

120,514

241,495

218,592

CREDITORS

Amounts falling due within one year

6

701,512

1,033,015

NET CURRENT LIABILITIES

(460,017

)

(814,423

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,600,263

2,260,395

PROVISIONS FOR LIABILITIES

19,313

26,417

NET ASSETS

2,580,950

2,233,978

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

2,580,850

2,233,878

SHAREHOLDERS' FUNDS

2,580,950

2,233,978

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

V R Vernon - Director

1.	STATUTORY INFORMATION

Vernon Developments UK Ltd 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.

Turnover

The turnover in the profit & loss account represents revenue recognised on goods sold on a cash or credit basis during the period exclusive of value added tax.

The rents received in the profit & loss account represents rents charged on a monthly basis during the period exclusive of value added tax.

Tangible fixed assets

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

Freehold property

-

not provided

Improvements to property

-

not provided

Plant and machinery

-

15% on reducing balance

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Amounts held in Freehold property relate to land carried at cost, under FRS102 section 17.16 land is deemed to have an unlimited useful life therefore no depreciation is charged.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

machinery

Totals

£

COST

At 1 January 2024

and 31 December 2024

2,639,675

338,225

384,633

3,362,533

DEPRECIATION

At 1 January 2024

-

287,715

Charge for year

-

14,538

At 31 December 2024

-

302,253

NET BOOK VALUE

At 31 December 2024

2,639,675

338,225

82,380

3,060,280

At 31 December 2023

2,639,675

338,225

96,918

3,074,818

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

50,000

86,154

Other debtors

5,644

11,924

55,644

98,078

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

-

48

Amounts owed to group undertakings

565,792

902,966

Taxation and social security

133,729

128,176

Other creditors

1,991

1,825

701,512

1,033,015

7.	SECURED DEBTS

HSBC Bank PLC has a fixed and floating charges over the undertaking and all property and assets present and future including goodwill bookdebts uncalled capital buildings fixtures fixed plant and machinery.

HSBC Bank PLC has a charge over F/H property k/a land and buildings on the south east side of lyster road, land on the south east side of lyster road, land on the south side of lyster road and land on the north-east side of arctic road, bootle t/no's MS148386, MS160525, MS487981 and MS313853. With the benefit of all rights licences guarantees rent deposits contracts deeds undertakings and warranties relating. To the property any shares or membership rights in any management company for the property any goodwill of any business from time to time carried on at the property any rental and other money payable under any lease licence or other interest created in respect of the property and all other payments whatever in respect of the property.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Gregory Newton FCCA (Senior Statutory Auditor)

for and on behalf of Douglas Fairless Partnership

9.	ULTIMATE PARENT COMPANY

The Ultimate parent company is Lyster Holdings Ltd

The registered office of the parent is as follows:

Head Office Works

Lyster Road

Bootle

England

L20 1AS