Vectis Property Company Limited

Registered number

00511463

Unaudited Filleted Accounts

31 March 2025

Vectis Property Company Limited
Registered number:		00511463
Balance Sheet
as at 31 March 2025
Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		8,919,381			8,922,444
Investments	4		7,280			7,280
			8,926,661			8,929,724

Current assets
Debtors	5	20,994,333			21,729,646
Cash at bank and in hand		30,228			192,477
		21,024,561			21,922,123

Creditors: amounts falling due within one year	6	(7,011,815)			(13,964,186)

Net current assets			14,012,746			7,957,937

Total assets less current liabilities			22,939,407			16,887,661

Creditors: amounts falling due after more than one year	7		(11,420,000)			(11,770,000)

Provisions for liabilities			(1,543,958)			(1,543,958)

Net assets			9,975,449			3,573,703

Capital and reserves
Called up share capital			50,000			50,000
Non distributable reserve	9		5,897,290			5,897,290
Profit and loss account			4,028,159			(2,373,587)

Shareholder funds(deficit)			9,975,449			3,573,703

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The company qualifies as a small group and is exempt from the requirement to prepare consolidated accounts




C N Rayner
Director
Approved by the board on 23 December 2025

Vectis Property Company Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).


	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes and represents rental income and charges for common overheads shared by related companies.

	Tangible fixed assets
	Investment properties are not depreciated, a departure from the Companies Act 2006, and in accordance with FRS102 they are revalued in order to show a true and fair view. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
	Investment land and buildings			Nil
	Fixtures, fittings, tools and equipment			over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					4		4


3	Tangible fixed assets
		Investment properties		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost/Valuation
	At 1 April 2024	8,910,193		141,799		21,780		9,073,772
	At 31 March 2025	8,910,193		141,799		21,780		9,073,772

	Depreciation
	At 1 April 2024	-		141,799		9,529		151,328
	Charge for the year	-		-		3,063		3,063
	At 31 March 2025	-		141,799		12,592		154,391

	Net book value
	At 31 March 2025	8,910,193		-		9,188		8,919,381
	At 31 March 2024	8,910,193		-		12,251		8,922,444


	Freehold land and buildings:					2025		2024
£							£
	Historical cost					1,545,132		1,545,132
	Cumulative depreciation based on historical cost					-		-
						1,545,132		1,545,132

	The investment properties have been revalued by C N Rayner MRICS , a director, on an existing use basis


4	Investments - The Company
Investments in
subsidiary
undertakings
£
	Cost
	At 1 April 2024							7,280

	At 31 March 2025							7,280



5	Debtors					Company
						2025		2024
£							£
	Amounts owed by related undertakings					20,838,011		21,398,680
	Other debtors					156,322		330,966
						20,994,333		21,729,646




6	Creditors: amounts falling due within one year
						Company
						2025		2024
£							£
	Bank loans and overdrafts					330,000		330,000
	Amounts owed to group undertakings					6,559,459		13,482,300
	and related undertakings
	Taxation and social security costs					11,490		10,629
	Other creditors					110,866		141,257
						7,011,815		13,964,186



7	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					11,420,000		11,770,000


8	Loans					2025		2024
£							£
	Creditors include:

	Secured bank loans					11,750,000		12,100,000

	The loans are secured on the company's investment properties and a collateral security arrangement with a related undertaking.


9	Non distributable reserve					2025		2024
£							£

	At 1 April 2024					5,897,290		6,147,064
	Revaluation of land and buildings net of realised gains					-		176,309
	Deferred taxation arising on the revaluation of land and buildings					-		(426,083)

	At 31 March 2025					5,897,290		5,897,290


10	Controlling party

	The controlling party is C N Rayner, a director, by virtue of his controlling interest in the ordinary share capital of the company.


11	Other information

	Vectis Property Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
	C/O TWM Solicitors Llp
	65 Woodbridge Road
	Guildford
	Surrey
	GU1 4RD