REGISTERED NUMBER: 14145298 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

VSPT UK Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Stocks

4

873,171

377,348

Debtors

5

208,528

235,758

Cash at bank

6

87,842

150,109

1,169,541

763,215

CREDITORS

Amounts falling due within one year

7

(1,072,442

)

(466,241

)

NET CURRENT ASSETS

97,099

296,974

TOTAL ASSETS LESS CURRENT LIABILITIES

97,099

296,974

CREDITORS

Amounts falling due after more than one year

8

-

(28,032

)

NET ASSETS

97,099

268,942

CAPITAL AND RESERVES

Called up share capital

417,400

417,400

Retained earnings

(320,301

)

(148,458

)

SHAREHOLDERS' FUNDS

97,099

268,942

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 director and authorised for issue on 25 November 2025 and were signed by:

Mr G Del Rio - Director

1.	STATUTORY INFORMATION

VSPT UK Ltd is a private company, limited by shares, registered in England and Wales, registration number 14145298.The registered office is Suite 2A, 7th Floor - PF City Reach, 5 Greenwich View Place, London, England, E14 9NN.

The presentation currency of the financial statements is pound sterling (£) and the level of rounding is the nearest £1.

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

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover 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 turnover is recognised:

Sale of goods

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

1. the Company has transferred the significant risks and rewards of ownership to the buyer;

2. the Company retains neither continuing managerial involvement to the degree usually associated with

ownership nor effective control over the goods sold;

3. the amount of turnover can be measured reliably;

4. it is probable that the Company will receive the consideration due under the transaction; and

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

Stocks

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined on a first in first out basis. Net realisable value represents value estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised.

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

1. The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

2. Any deferred tax balances are reversed if and when all conditions for retaining associated tax

allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions.

Creditors

Basic financial liabilities, including trade and other creditors, loans from related parties, 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 payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Going concern

The director has received written confirmation that the holding company, Viña San Pedro Tarapacá S.A., will provide unconditional financial support to VSPT UK Ltd for the foreseeable future. As a result, the company continues to adopt the going concern basis in the preparation of its financial statements.

Related party disclosure

For the year ended 31st December 2024, the Company was a wholly owned subsidiary of the Ultimate Parent Company, Viña San Pedro Tarapacá S.A. The results of the company are included in their consolidated financial statements, which are publicly available. As permitted by FRS 102 the Company is exempt from disclosing related party transactions with entities that are part of the group or investees of the group qualifying as related parties, as it is a wholly owned subsidiary of a parent publishing consolidated financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.

STOCKS

31.12.24

31.12.23

£

£

Stocks

873,171

377,348

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

194,112

225,401

Other debtors

-

238

VAT

5,769

6,758

Prepayments

8,647

3,361

208,528

235,758

6.	CASH AT BANK

31.12.24

31.12.23

£

£

CitiBank current account

87,842

150,109

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

235,678

3,484

Amounts owed to group undertakings

456,707

390,866

Other creditor

338,662

-

Accrued expenses

41,395

71,891

1,072,442

466,241

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to group undertakings

-

28,032

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

The Report of the Auditors was unqualified.

Faustino Franco (Senior Statutory Auditor)

for and on behalf of Perlin Franco