REGISTERED NUMBER: 01840217 (England and Wales)

Financial Statements for the Year Ended 31 March 2025

for

Vico Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T P Flannery

D Ellis

REGISTERED OFFICE:

Unit 2 B

Willow Bridge Way

Normanton

Castleford

West Yorkshire

WF10 5NP

REGISTERED NUMBER:

01840217 (England and Wales)

ACCOUNTANTS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

BANKERS:

Handelsbanken

Wakefield Branch

Unit 10

Navigation Court

Wakefield

West Yorkshire

WF2 7BJ

FIXED ASSETS

Intangible assets

4

1,999

3,998

Tangible assets

5

1,528,546

1,523,091

Investment property

6

1,000,000

1,000,000

2,530,545

2,527,089

CURRENT ASSETS

Stocks

-

500

Debtors

7

155,339

57,466

Cash at bank

581,321

612,929

736,660

670,895

CREDITORS

Amounts falling due within one year

8

887,382

827,255

NET CURRENT LIABILITIES

(150,722

)

(156,360

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,379,823

2,370,729

PROVISIONS FOR LIABILITIES

76,769

75,657

NET ASSETS

2,303,054

2,295,072

CAPITAL AND RESERVES

Called up share capital

75,000

75,000

Non-distributable reserve

10

475,861

475,861

Capital redemption reserve

25,000

25,000

Retained earnings

1,727,193

1,719,211

SHAREHOLDERS' FUNDS

2,303,054

2,295,072

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

T P Flannery - Director

1.	STATUTORY INFORMATION

Vico Developments Limited 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.

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 comprises the value of sales (excluding VAT, similar taxes and trade discounts) of:

- sales of clothing in a retail setting. Revenue is recognised at the time of sale.

Rental income is accounted for over the term of the lease.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

The directors have chosen not to depreciate freehold property in order to ensure that the financial statements present a true and fair view. The company constantly maintains the property in order to maintain its useful economic life and value. As a result, freehold property has not been depreciated in accordance with FRS 102.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with charges recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

9,995

AMORTISATION

At 1 April 2024

5,997

Charge for year

1,999

At 31 March 2025

7,996

NET BOOK VALUE

At 31 March 2025

1,999

At 31 March 2024

3,998

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 April 2024

1,500,000

45,880

1,545,880

Additions

-

14,330

14,330

At 31 March 2025

1,500,000

60,210

1,560,210

DEPRECIATION

At 1 April 2024

-

22,789

22,789

Charge for year

-

8,875

8,875

At 31 March 2025

-

31,664

31,664

NET BOOK VALUE

At 31 March 2025

1,500,000

28,546

1,528,546

At 31 March 2024

1,500,000

23,091

1,523,091

Cost or valuation at 31 March 2025 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2021

263,799

-

263,799

Valuation in 2023

250,000

-

250,000

Valuation in 2024

150,000

-

150,000

Cost

836,201

60,210

896,411

1,500,000

60,210

1,560,210

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,000,000

NET BOOK VALUE

At 31 March 2025

1,000,000

At 31 March 2024

1,000,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2006

137,866

Valuation in 2018

500,000

Valuation in 2021

(505,542

)

Valuation in 2023

(250,000

)

Cost

1,117,676

1,000,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

1,117,676

1,117,676

Investment property was valued on an open market basis on 31 March 2025 by the director .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

950

33,066

Other debtors

154,389

24,400

155,339

57,466

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

4,628

162,042

Taxation and social security

2,047

-

Other creditors

880,707

665,213

887,382

827,255

9.	SECURED DEBTS

The charges were satisfied on Companies House during the year.

10.

RESERVES

Non-distribu

reserve

£

At 1 April 2024

and 31 March 2025

475,861

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

D Ellis

Balance outstanding at start of year

-

-

Amounts advanced

345,000

-

Amounts repaid

(195,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

150,000

-

This is repayable on demand.