REGISTERED NUMBER: 13354288 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

VOLUNTARY SECTOR CENTRES 1 LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R A Fleming

REGISTERED OFFICE:

45 Queen Street

Deal

Kent

CT14 6EY

REGISTERED NUMBER:

13354288 (England and Wales)

AUDITORS:

McCabe Ford Williams

Chartered Accountants and Statutory Auditors

Charlton House

Dour Street

Dover

Kent

CT16 1BL

FIXED ASSETS

Investments

4

1,397,074

1,028,769

CURRENT ASSETS

Debtors

5

858

-

Cash at bank

12,172

4,578

13,030

4,578

CREDITORS

Amounts falling due within one year

6

1,107,523

848,490

NET CURRENT LIABILITIES

(1,094,493

)

(843,912

)

TOTAL ASSETS LESS CURRENT LIABILITIES

302,581

184,857

PROVISIONS FOR LIABILITIES

7

75,717

46,692

NET ASSETS

226,864

138,165

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

227,152

140,077

Retained earnings

(388

)

(2,012

)

226,864

138,165

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 20 November 2025 and were signed by:

R A Fleming - Director

1.	STATUTORY INFORMATION

Voluntary Sector Centres 1 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Fixed asset investments

Fixed Asset Investments are initially recorded at cost and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Going concern

The financial statements have been prepared on a going concern basis as the company receives continued support from its parent charity, Voluntary Sector Centres.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 May 2024

1,028,769

Additions

252,205

Revaluations

116,100

At 30 April 2025

1,397,074

NET BOOK VALUE

At 30 April 2025

1,397,074

At 30 April 2024

1,028,769

Cost or valuation at 30 April 2025 is represented by:

Other

investments

£

Valuation in 2023

204,005

Valuation in 2024

(17,236

)

Valuation in 2025

116,100

Cost

1,094,205

1,397,074

The Company investments consist of 978 Ordinary Shares (45.79%) of Mansion Garden Estates Ltd (MGE)(Company number 08698236).

Voluntary Sector Centres Charity is the sole shareholder of Voluntary Sector Centres 1 Ltd and the Ultimate Controlling Party.

The Director is also a director and non controlling shareholder in MGE.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Mansion Garden Estates Ltd

858

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

1,105,893

847,830

VAT

1,030

-

Accrued expenses

600

660

1,107,523

848,490

The intercompany loan creditor represents amounts lent to the Company by its parent in order to fund the Investments made. This loan is interest free and repayable on demand.

7.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

75,717

46,692

Deferred

tax

£

Balance at 1 May 2024

46,692

Provided during year

29,025

Balance at 30 April 2025

75,717

8.

RESERVES

Fair

value

reserve

£

At 1 May 2024

140,077

Investment fair value

adjustment

87,075

At 30 April 2025

227,152

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

The Report of the Auditors was unqualified.

John Sheather BSc FCA (Senior Statutory Auditor)

for and on behalf of McCabe Ford Williams

10.	CAPITAL COMMITMENTS

At the year end, the Company was committed to investing a further £1m into the share capital of Mansion Garden Estates Limited (MGE). As a result of other investors acquiring new shares at the same time, the shareholding in MGE decreased after this transaction from 45.79% to 38.05%.