REGISTERED NUMBER: 01533840 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2025

for

George Vardy Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

B W Kell

REGISTERED OFFICE:

Richard Street

Hetton Le Hole

Tyne and Wear

DH5 9HN

REGISTERED NUMBER:

01533840 (England and Wales)

ACCOUNTANTS:

Anderson Barrowcliff Limited

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

FIXED ASSETS

Tangible assets

4

1,003,254

1,102,146

CURRENT ASSETS

Stocks

480

480

Debtors

5

2,131,454

2,046,850

Cash at bank and in hand

29,151

96,938

2,161,085

2,144,268

CREDITORS

Amounts falling due within one year

6

702,675

781,214

NET CURRENT ASSETS

1,458,410

1,363,054

TOTAL ASSETS LESS CURRENT LIABILITIES

2,461,664

2,465,200

CREDITORS

Amounts falling due after more than one year

7

(307,539

)

(233,545

)

PROVISIONS FOR LIABILITIES

(250,813

)

(275,536

)

NET ASSETS

1,903,312

1,956,119

CAPITAL AND RESERVES

Called up share capital

10

96,230

96,230

Retained earnings

1,807,082

1,859,889

SHAREHOLDERS' FUNDS

1,903,312

1,956,119

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 6 January 2026 and were signed by:

B W Kell - Director

1.	STATUTORY INFORMATION

George Vardy 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

The accounts have been prepared in accordance with applicable accounting standards. There were no material departures from those standards.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised at the point at which the company has fulfilled its contractual obligations to the customer.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

33% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

The gain or loss arising from the sale of a tangible fixed 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.

Stocks

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

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 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.

Hire purchase and leasing commitments

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2024 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 May 2024

1,825,855

13,216

589,440

2,428,511

Additions

265,980

-

22,350

288,330

Disposals

(159,921

)

(8,792

)

(163,632

)

(332,345

)

At 30 April 2025

1,931,914

4,424

448,158

2,384,496

DEPRECIATION

At 1 May 2024

1,011,874

9,524

304,967

1,326,365

Charge for year

219,746

556

73,965

294,267

Eliminated on disposal

(127,559

)

(8,091

)

(103,740

)

(239,390

)

At 30 April 2025

1,104,061

1,989

275,192

1,381,242

NET BOOK VALUE

At 30 April 2025

827,853

2,435

172,966

1,003,254

At 30 April 2024

813,981

3,692

284,473

1,102,146

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

509,167

302,727

Amounts owed by group undertakings

1,571,233

1,687,616

Other debtors

51,054

56,507

2,131,454

2,046,850

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts (see note 8)

143,180

191,971

Trade creditors

112,580

131,404

Amounts owed to group undertakings

208,479

323,624

Taxation and social security

204,006

101,899

Other creditors

24,430

22,316

702,675

781,214

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,375

11,600

Hire purchase contracts (see note 8)

306,164

221,945

307,539

233,545

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

143,180

191,971

Between one and five years

306,164

221,945

449,344

413,916

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase agreements

449,344

413,916

Hire purchase agreements are secured on the assets to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

96,228

Ordinary shares

£1

96,228

96,228

2

Ordinary A shares

£1

2

2

96,230

96,230

11.	RELATED PARTY DISCLOSURES

During the year the company sold goods and services to a fellow subsidiary undertaking amounting to £373,086 (2024: £83,650). At the year end £400,472 (2024: £251,655) was due from the fellow subsidiary undertaking.

During the year the company purchased goods and services from a fellow subsidiary undertaking amounting to £346,825 (2024: £237,138). At the year end £208,479 (2024: £323,624l) was due to the fellow subsidiary undertaking.

At the year end £1,170,761 (2024: £1,435,961) was due from Kell Holdings Limited, the ultimate parent company.