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Registered number: 10607349 VAUXHALL SQUARE (NOMINEE 1) LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
VAUXHALL SQUARE (NOMINEE 1) LIMITED
COMPANY INFORMATION
Directors | T Hajoglou
| L A Main
| A R Taggart
| T D Upton
Registered number | 10607349
Registered office | Duo, Level 6
| 280 Bishopsgate
| London
| England
| EC2M 4RB
Independent auditors | TC Group
| 3rd Floor, Suffolk House
| George Street
| Croydon
| CR0 0YN
VAUXHALL SQUARE (NOMINEE 1) LIMITED
CONTENTS
| Page
Statement of Financial Position | 1
Notes to the Financial Statements | 2 - 5
VAUXHALL SQUARE (NOMINEE 1) LIMITED REGISTERED NUMBER:10607349
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Current assets |  |  |  |  |
Stocks |  | 107,684,462 |  | 102,232,922 |
Debtors: amounts falling due within one year | 6 | 362,157 |  | 1,097,747 |
Cash at bank and in hand |  | 301,836 |  | - |
|  | 108,348,455 |  | 103,330,669 |
Creditors: amounts falling due within one year | 7 | (13,948,016) |  | (7,195,746) |
Net current assets |  |  | 94,400,439 |  | 96,134,923
Total assets less current liabilities |  |  | 94,400,439 |  | 96,134,923
Net assets |  |  | 94,400,439 |  | 96,134,923
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2 |  | 2
Share premium account |  |  | 4,513,208 |  | 4,513,208
Profit and loss account |  |  | 89,887,229 |  | 91,621,713
|  |  | 94,400,439 |  | 96,134,923
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
L A Main
Director
Date: 30 March 2026
The notes on pages 2 to 5 form part of these financial statements. Page 1
VAUXHALL SQUARE (NOMINEE 1) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
Vauxhall Square (Nominee 1) Limited is a private company limited by shares and is incorporated and domiciled in England, United Kingdom. The registered address is Duo, Level 6, 280 Bishopsgate, London, England, EC2M 4RB. The principal activity of the company is the purchase and development of residential property and communities. The company's functional and presentational currency is £ Sterling. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The directors of the company have prepared the financial statements on a going concern basis. The directors have assessed the company's net asset position. The directors believe that as the company's creditor balance relate to group companies, the company will not be required to repay these until such a time as it is able. Accordingly, the directors believe that it is appropriate that these financial statements are prepared on a going concern basis.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
| 2.6 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence. Page 2
VAUXHALL SQUARE (NOMINEE 1) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.7 | Stocks
Inventories are stated at the lower of cost and net realisable value. Cost, in relation to work in progress, comprises direct materials and, where applicable, direct labour costs and those overheads, not including any general administrative overheads, that have been incurred in bringing the stock to their present location and condition. Borrowing costs and professional fees incurred to prepare the asset for its intended use and sale are capitalised. All costs are only capitalised to the extent that they are recoverable. Where costs incurred are not considered to be recoverable then these are expensed within the income statement. Net realisable value represents the estimated selling price net of expected sales discounts less all estimated costs of completion including overheads and interest. Land held for development, including land in the course of development until legal completion of the sale of the asset, is initially recorded at cost. Regular reviews are carried out to identify any impairment in the value of the land by comparing the total estimated selling prices less estimated selling expenses against the book cost of the land plus estimated costs to complete. Provision is made for any irrecoverable amounts. The company has used a “residual income” approach to assess realisable value. Investments in land without the benefit of planning consent, either through the purchase of land or non-refundable deposits paid on land purchase contracts subject to planning consent, are included initially at cost. Regular reviews are carried out for impairment in the values of these investments and provision made to reflect any irrecoverable element. The impairment reviews consider the existing use value of the land and assess the likelihood of achieving planning consent and the value thereof. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
| 2.8 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.9 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 3
VAUXHALL SQUARE (NOMINEE 1) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
3. | Other operating income
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Exceptional items | 6,500 | 227,842,362
4. | Employees
| The company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).
| The average monthly number of employees, including directors, during the year was 0 (2024 - 0).
5. | Taxation
| Factors affecting tax charge for the year
| The tax losses for the period have been carried forward and are available for use in future accounting periods.
| Factors that may affect future tax charges
At the year end date, the company has accumulated tax losses of £91,019,822 (2024 – £89,258,438) available for carry forward and use against future taxable profits. No deferred tax provision has been made in the accounts in respect of the losses because of the uncertainty over its recoverability.
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 22,385 | 7,625
| Other debtors | 262,152 | -
| VAT recoverable | 76,164 | 1,090,122
| Prepayments and accrued income | 1,456 | -
|  | 362,157 | 1,097,747
Page 4
VAUXHALL SQUARE (NOMINEE 1) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 80,663 | 976,049
| Amounts owed to group undertakings | 13,743,578 | 6,021,270
| Amounts owed to related parties | 114,000 | 75,316
| Other creditors | - | 111,361
| Accruals and deferred income | 9,775 | 11,750
|  | 13,948,016 | 7,195,746
8. | Related party transactions
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, not to disclose related party transactions with wholly owned subsidiaries within the group. Amounts owed to and from related parties are interest free loans, repayable on demand, to companies in which the directors have common control. Fixed and floating charges, dated 17 May 2024 & 29 July 2024, have been secured over the assets of the company as security for a guarantee provided by the company in relation to a loan granted to a group company.
9. | Controlling party
The immediate parent company is VXOPP 4 Limited. The ultimate parent company and controlling party is VXOPP Holdco 1 Limited.
10. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 30 March 2026 by John Millidge (Senior Statutory Auditor) on behalf of TC Group.
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