Company registration number 05901604 (England and Wales)
VARDY PROPERTY (TEESSIDE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
VARDY PROPERTY (TEESSIDE) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
VARDY PROPERTY (TEESSIDE) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
2,750,000
2,750,000
Current assets
Debtors
4
255,945
71,678
Cash at bank and in hand
109,941
163,424
365,886
235,102
Creditors: amounts falling due within one year
5
(193,205)
(258,057)
Net current assets/(liabilities)
172,681
(22,955)
Net assets
2,922,681
2,727,045
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
2,922,680
2,727,044
Total equity
2,922,681
2,727,045

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 November 2025 and are signed on its behalf by:
R A R Vardy
Director
Company registration number 05901604 (England and Wales)
VARDY PROPERTY (TEESSIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Vardy Property (Teesside) Limited is a private company limited by shares incorporated in England and Wales (company number: 05901604). The registered office is 32 Portland Terrace, Jesmond, Newcastle upon Tyne, NE2 1QP. The company's principal place of business is 110 George Street, Edinburgh, EH2 4LH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the company forms part of a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover, which is stated net of value added tax, represents the value of amounts due for rents and service charges.

1.3
Investment properties

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 a t the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

VARDY PROPERTY (TEESSIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including short term creditors and loans from fellow group companies are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
VARDY PROPERTY (TEESSIDE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
3
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
2,750,000

Investment property comprises properties held for rent to third parties. The investment property has been valued by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
126,163
-
0
Other debtors
129,782
71,678
255,945
71,678
5
Creditors: amounts falling due within one year
2025
2024
£
£
Amounts owed to group undertakings
-
0
82,227
Corporation tax
65,212
60,011
Other taxation and social security
15,583
12,346
Other creditors
112,410
103,473
193,205
258,057
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
7
Parent company

The parent company of Vardy Property (Teesside) Limited is Vardy Property Group Limited, a company registered in England and Wales. The registered office of Vardy Property Group Limited is 32 Portland Terrace, Newcastle upon Tyne, NE2 1QP.

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