Company registration number 03254330 (England and Wales)
VEERE GRENNEY ASSOCIATES LIMITED
Unaudited financial statements
For the period ended 31 May 2025
Pages for filing with registrar
VEERE GRENNEY ASSOCIATES LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
VEERE GRENNEY ASSOCIATES LIMITED
BALANCE SHEET
As at 31 May 2025
- 1 -
31 May 2025
30 September 2024
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
5
7,303
7,071
Current assets
Stocks
290,660
139,846
Debtors - deferred tax
-
0
240
Debtors - other
6
909,039
1,522,988
Cash at bank and in hand
1,980,644
1,742,372
3,180,343
3,405,446
Creditors: amounts falling due within one year
7
(1,765,254)
(1,638,053)
Net current assets
1,415,089
1,767,393
Net assets
1,422,392
1,774,464
Capital and reserves
Called up share capital
8
90
90
Capital redemption reserve
10
10
Profit and loss reserves
1,422,292
1,774,364
Total equity
1,422,392
1,774,464

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

T he member has not required the company to obtain an audit of its financial statements for the period 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 financial statements were approved by the board of directors and authorised for issue on 20 November 2025 and are signed on its behalf by:
Mr V Grenney
Director
Company registration number 03254330 (England and Wales)
VEERE GRENNEY ASSOCIATES LIMITED
STATEMENT OF CHANGES IN EQUITY
For the period ended 31 May 2025
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 October 2023
90
10
891,548
891,648
Year ended 30 September 2024:
Profit and total comprehensive income
-
-
930,816
930,816
Dividends
-
-
(48,000)
(48,000)
Balance at 30 September 2024
90
10
1,774,364
1,774,464
Period ended 31 May 2025:
Profit and total comprehensive income
-
-
544,473
544,473
Dividends
-
-
(896,545)
(896,545)
Balance at 31 May 2025
90
10
1,422,292
1,422,392
VEERE GRENNEY ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the period ended 31 May 2025
- 3 -
1
Accounting policies
Company information

Veere Grenney Associates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1B Hollywood Road, London, SW10 9HS.

1.1
Reporting period

The accounting period has been shortened to an 8 month period from 1 October 2024 to 31 May 2025. A shorter period has been used to align with one of the directors leaving the UK. Therefore the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
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 £.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computers
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

VEERE GRENNEY ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the period ended 31 May 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
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 and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
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.

1.8
Taxation

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

VEERE GRENNEY ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the period ended 31 May 2025
1
Accounting policies
(Continued)
- 5 -
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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2025
2024
Number
Number
Employees
12
12
VEERE GRENNEY ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the period ended 31 May 2025
- 6 -
4
Directors' remuneration
2025
2024
£
£
Remuneration paid to directors
144,725
177,000
5
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 October 2024
209,617
210,223
94,159
513,999
Additions
-
0
-
0
1,583
1,583
At 31 May 2025
209,617
210,223
95,742
515,582
Depreciation and impairment
At 1 October 2024
209,617
209,942
87,369
506,928
Depreciation charged in the period
-
0
47
1,304
1,351
At 31 May 2025
209,617
209,989
88,673
508,279
Carrying amount
At 31 May 2025
-
0
234
7,069
7,303
At 30 September 2024
-
0
281
6,790
7,071
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
552,953
1,269,143
VAT recoverable
204,545
82,117
Other debtors
131
87,617
Prepayments and accrued income
151,410
166,228
909,039
1,605,105
2025
2024
Amounts falling due after more than one year:
£
£
Deferred tax asset (note )
-
0
240
Total debtors
909,039
1,605,345
VEERE GRENNEY ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the period ended 31 May 2025
- 7 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
420,938
441,660
Amounts owed to group undertakings
47,472
47,472
Corporation tax
511,583
324,247
Other taxation and social security
-
0
18,793
Deferred income
773,837
800,487
Other creditors
1,424
1,424
Accruals and deferred income
10,000
3,970
1,765,254
1,638,053
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
90
90
90
90
10
Ultimate Controlling Party

The controlling party is Mr V Grenney.

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