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Registration number: 10836229

Vardent Developments Ltd
Unaudited Filleted Financial Statements
for the Year Ended 30 June 2025

Vardent Developments Ltd

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 11

Vardent Developments Ltd

Company Information

Directors | Mr Ben Vincent Mr Stephen Ward

Registered office | 37 Hurricane Drive Calne Wiltshire SN11 8GB

Accountants | Oak Leaf Accountancy Limited 78 Stickleback Road Calne Wiltshire SN11 9RB

Vardent Developments Ltd

(Registration number: 10836229)
Balance Sheet as at 30 June 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 43,350 | 3,962
Investment property | 5 | 395,000 | 390,000
|  | 438,350 | 393,962
Current assets |  |  |
Stocks | 6 | 870,696 | 352,265
Debtors | 7 | 64,152 | 25,016
Cash at bank and in hand |  | 182,126 | 153,686
|  | 1,116,974 | 530,967
Creditors: Amounts falling due within one year | 8 | (442,805) | (475,356)
Net current assets |  | 674,169 | 55,611
Total assets less current liabilities |  | 1,112,519 | 449,573
Creditors: Amounts falling due after more than one year | 8 | (960,255) | (307,493)
Provisions for liabilities |  | (22,569) | (16,202)
Net assets |  | 129,695 | 125,878
Capital and reserves |  |  |
Called up share capital |  | 120 | 120
Retained earnings |  | 129,575 | 125,758
Shareholders' funds |  | 129,695 | 125,878

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 January 2026 and signed on its behalf by:

Vardent Developments Ltd

(Registration number: 10836229)
Balance Sheet as at 30 June 2025

......................................... Mr Ben Vincent Director

Vardent Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1 | General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
37 Hurricane Drive
Calne
Wiltshire
SN11 8GB

These financial statements were authorised for issue by the Board on 19 January 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention as modified by the revaluation of certain assets.

Revenue recognition

Turnover represents income from the sale of development property, provision of labour services and rental income.
Property sales are recognised when contracts are exchanged and the buyer is legally committed to the purchase.
Turnover from the supply of services represents the value of services provided under contractss to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customers in advance of services provided the amounts are recorded as deferred income and included as part of creditors due within one year.
Rent is recognised for the period to which it relates. Where income is received in advance, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets are not discounted.

Vardent Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 25% RB
Motor vehicles | 25% RB

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 and loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Vardent Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances, 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.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans from fellow group companies, 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 receipts discounted at a market rate of interest.
Debt instruments are subsequently carried at ammortised cost, using the effective interest rate method.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Vardent Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4 | Tangible assets

| Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 July 2024 | - | 15,850 | 15,850
Additions | 9,013 | 39,954 | 48,967
Disposals | - | (15,850) | (15,850)
At 30 June 2025 | 9,013 | 39,954 | 48,967
Depreciation
At 1 July 2024 | - | 11,888 | 11,888
Charge for the year | 751 | 4,866 | 5,617
Eliminated on disposal | - | (11,888) | (11,888)
At 30 June 2025 | 751 | 4,866 | 5,617
Carrying amount
At 30 June 2025 | 8,262 | 35,088 | 43,350
At 30 June 2024 | - | 3,962 | 3,962

5 | Investment properties

| 2025 £
At 1 July | 390,000
Fair value adjustments | 5,000
At 30 June | 395,000

Investment property was valued on an open market basis on 30 June 2025 by the directors.
If investment property had not been revalued it would have been included at the following historic cost 2025 : £304,724 (2024 : £304,724).

There has been no valuation of investment property by an independent valuer.

6 | Stocks

| 2025 £ | 2024 £
Other inventories | 870,696 | 352,265

Vardent Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

7 | Debtors

| 2025 £ | 2024 £
Trade debtors | - | 12,441
Prepayments | 52,421 | 5,338
Other debtors | 11,731 | 7,237
| 64,152 | 25,016

Current | 2025 £ | 2024 £
Trade debtors | - | 12,441
Prepayments | 52,421 | 5,338
Other debtors | 11,731 | 7,237
| 64,152 | 25,016

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings |  | 156,394 | 219,815
Trade creditors |  | 9,336 | 26,886
Taxation and social security |  | 29,511 | 53,042
Accruals and deferred income |  | 93,545 | 21,778
Other creditors |  | 154,019 | 153,835
|  | 442,805 | 475,356

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings |  | 960,255 | 307,493

The following secured debts are included within creditors :
Bank loans 2025 : £297,493 (2024 : £297,493).
The loans are secured by a fixed and floating charge over the assets of the company.

9 | Share capital

Allotted, called up and fully paid shares

Vardent Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 100 | 100 | 100 | 100
B Ordinary of £1 each | 20 | 20 | 20 | 20
| 120 | 120 | 120 | 120

Vardent Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

10 | Related party transactions

Transactions with directors

2025 | At 1 July 2024 £ | Advances to director £ | Repayments by director £ | At 30 June 2025 £
Mr Ben Vincent
| (120) | 36,671 | (36,640) | (88)
Mr Stephen Ward
| (145,563) | 64,110 | (64,110) | (145,563)

2024 | At 1 July 2023 £ | Advances to director £ | Repayments by director £ | At 30 June 2024 £
Mr Ben Vincent
| - | 36,672 | (36,792) | (120)
Mr Stephen Ward
| (154,514) | 99,092 | (90,140) | (145,563)

Vardent Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 25,140 | 25,140