Velvet International Property Holdings Ltd
Statement of financial position
as at 31 July 2025
Tangible assets
1,230,587
-
Cash at bank and in hand
12,784
-
Creditors: amounts falling due within one year
(1,257,063)
-
Net current liabilities
(1,244,279)
-
Profit and loss account
(13,692)
-
Shareholders' funds
(13,692)
-
For the year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 April 2026 and were signed on its behalf by
WALKER, Kikelomo
Director
Company Registration No. 15853328
Velvet International Property Holdings Ltd
Notes to the Accounts
for the year ended 31 July 2025
Velvet International Property Holdings Ltd is a private company, limited by shares, registered in England and Wales, registration number 15853328.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 July 2025 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2023.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
4
Tangible fixed assets
Land & buildings
Investment properties are included at fair value, being the open market value at the balance sheet date, in accordance with FRS 102.
No depreciation is provided. Changes in fair value are recognised in the profit and loss account for the year.
Velvet International Property Holdings Ltd
Notes to the Accounts
for the year ended 31 July 2025
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
692,024
-
Loans from directors
559,339
-
Mortgage loans amounting to £692,024 (2024: £0) are secured on the company’s investment property and are repayable over agreed terms.
8
Transactions with related parties
During the year, the company received financial support from a company under the control of a director.
At the balance sheet date, a loan of £77,085 (2024: £nil) was outstanding to this related party.
The loan is unsecured and repayable on demand. Interest may be charged in line with agreed terms.
9
Average number of employees
During the year the average number of employees was 0 (2024: 0).