Company No: 09775324 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	34,613		43,266
Investment property	4	3,019,916		3,210,000
Investments	5	2,376,129		2,359,469
		5,430,658		5,612,735
Current assets
Debtors	6	112		300
Cash at bank and in hand		239,695		701,372
		239,807		701,672
Creditors: amounts falling due within one year	7	( 1,141,240)		( 2,262,545)
Net current liabilities		(901,433)		(1,560,873)
Total assets less current liabilities		4,529,225		4,051,862
Creditors: amounts falling due after more than one year	8	( 619,237)		0
Provision for liabilities		( 17,380)		( 73,396)
Net assets		3,892,608		3,978,466
Capital and reserves
Called-up share capital	9	3,300,000		3,300,000
Profit and loss account	11	592,608		678,466
Total shareholders' funds		3,892,608		3,978,466

For the financial year ending 30 September 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of VHP Investments Ltd (registered number: 09775324) were approved and authorised for issue by the Board of Directors on 20 May 2026. They were signed on its behalf by:

C A Burhop Director

P J Burhop Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

VHP Investments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Half Acre, High Street, Newton Poppleford, EX10 0ED, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net assets of £3,892,608, but net current liabilities of £901,433. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts 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 Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position 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.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Vehicles	20 % reducing balance
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Vehicles		Office equipment		Total
	£		£		£
Cost
At 01 October 2024	68,675		1,404		70,079
At 30 September 2025	68,675		1,404		70,079
Accumulated depreciation
At 01 October 2024	25,409		1,404		26,813
Charge for the financial year	8,653		0		8,653
At 30 September 2025	34,062		1,404		35,466
Net book value
At 30 September 2025	34,613		0		34,613
At 30 September 2024	43,266		0		43,266

4. Investment property

	Investment property
	£
Valuation
As at 01 October 2024	3,210,000
Additions	14,916
Fair value movement	(205,000)
As at 30 September 2025	3,019,916

Valuation

The 2025 valuations were made by the director, on an open market value for existing use basis and was arrived at taking account of information from publicly available data and judgement. A significant level of uncertainty exists in relation to these assumptions and any changes in these assumptions could have a material impact on the carrying value of Investment Property in the financial statements.

5. Fixed asset investments

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 October 2024	2,359,469		2,359,469
Additions	2,537,457		2,537,457
Disposals	( 2,590,967)		( 2,590,967)
Movement in fair value	70,170		70,170
At 30 September 2025	2,376,129		2,376,129
Carrying value at 30 September 2025	2,376,129		2,376,129
Carrying value at 30 September 2024	2,359,469		2,359,469

6. Debtors

	2025		2024
	£		£
Trade debtors	112		300

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	17,579		308,768
Amounts owed to directors	1,076,744		1,877,079
Deferred income	3,750		3,000
Taxation and social security	39,417		32,003
Obligations under finance leases and hire purchase contracts (secured)	0		36,315
Other creditors	3,750		5,380
	1,141,240		2,262,545

The bank loan is secured against the investment properties to which the loan relates.

The hire purchase liability is secured against the underlying asset.

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	619,237		0

The bank loan is secured against the investment properties to which the loan relates.

9. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
270,000 B ordinary shares of £ 1.00 each	270,000		270,000
30,000 Ordinary shares of £ 1.00 each	30,000		30,000
	300,000		300,000
3,000,000 Redeemable preference shares of £ 1.00 each	3,000,000		3,000,000
	3,300,000		3,300,000

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amounts owed to the directors	1,076,744		1,877,079

No interest was charged on the amounts outstanding during the year. The loan is repayable on demand.

11. Profit and Loss account

The profit and loss reserve balance of £592,608 at the balance sheet date contains unrealised gains of £93,912, net of deferred tax of £8,726, in relation to the company's investment properties.