ACCOUNTS - Final Accounts preparation



	VDP Fashion Limited












	Unaudited
	Financial statements

	For the year ended 31 December 2024

	Registered number: 14826629


VDP Fashion Limited - Registered number: 14826629

Statement of financial position

As at 31 December 2024

	2024	2024	2023	2023
Note	£	£	£	£

Fixed assets
Tangible assets	4		8,720		-
			8,720		-
Current assets
Stocks		196,598		175,370
Debtors	5	485,255		59,596
Cash at bank and in hand		51,851		-
		733,704		234,966
Creditors: amounts falling due within one year	6	(1,795,631)		(230,367)
Net current (liabilities)/assets			(1,061,927)		4,599
Total assets less current liabilities			(1,053,207)		4,599

Net (liabilities)/assets			(1,053,207)		4,599

Capital and reserves
Share capital	197,876	1
Profit and loss account	(1,251,083)	4,598
	(1,053,207)	4,599

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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VDP Fashion Limited - Registered number: 14826629

Statement of financial position (continued)

As at 31 December 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

D Goei

Director

Date: 26 September 2025

The notes on pages 3 to 7 form part of these financial statements.

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VDP Fashion Limited

Notes to the financial statements

For the year ended 31 December 2024

1.	General information

VDP Fashion Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL. Its company registration number is 14826629.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified
within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act
2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

At the reporting date, the company's liabilities exceeded its assets. The company has received assurance from its parent company that it will continue to give financial support to the company for a period of at least twelve months from the date of signing of these financial statements.
On this basis, the directors considers it appropriate to prepare the financial statements on a going concern
basis. However, should the financial support mentioned above not be forthcoming, the going concern basis
used in preparing the company's financial statements may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amounts and to provide for any further liabilities which might be necessary should the basis not continue to be appropriate.

2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each year end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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VDP Fashion Limited

Notes to the financial statements

For the year ended 31 December 2024

2.Accounting policies (continued)

2.3

Foreign currency translation (continued)

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at
period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are
recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow
hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in
the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange
gains and losses are presented in profit or loss within 'other operating income'.

2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

∙the company has transferred the significant risks and rewards of ownership to the buyer;

∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

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VDP Fashion Limited

Notes to the financial statements

For the year ended 31 December 2024

2.Accounting policies (continued)

2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Fixtures and fittings	-	25%
				Computer equipment	-	25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

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VDP Fashion Limited

Notes to the financial statements

For the year ended 31 December 2024

2.Accounting policies (continued)

2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.13

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Employees

The average monthly number of employees during the year was 4 (2023 - nil).

4.	Tangible fixed assets

	Fixtures and fittings	Computer equipment	Total
	£	£	£
Cost
Additions	2,269	7,161	9,430
At 31 December 2024	2,269	7,161	9,430
Depreciation
Charge for the year	121	589	710
At 31 December 2024	121	589	710
Net book value
At 31 December 2024	2,148	6,572	8,720
At 31 December 2023	-	-	-

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VDP Fashion Limited

Notes to the financial statements

For the year ended 31 December 2024

Debtors

					2024	2023
					£	£


Trade debtors	69,540	59,595
Amounts owed by group undertakings	373,902	-
Other debtors	39,590	1
Prepayments	2,223	-
	485,255	59,596

6.	Creditors: amounts falling due within one year
		2024	2023
		£	£

Trade creditors	67,701	1,050
Amounts owed to group undertakings	1,670,151	-
Corporation tax	-	1,079
Other taxation and social security	21,988	-
Other creditors	1,391	221,738
Accruals	34,400	6,500
	1,795,631	230,367

7.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately
from those of the company in an independently administered fund. The pension cost charge represents
contributions payable by the company to the fund and amounted to £1,800 (2023 - £nil). Contributions
totalling £1,391 (2023 - £nil) were payable to the fund at the reporting date and are included in creditors.

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