Registration number: 14051504

VBM Cartwright Properties Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

VBM Cartwright Properties Limited

Company Information

Director

Mr T A Cartwright

Registered office

17 Gould Place Newton Abbot Devon TQ12 4FP

Accountants

Thompson Jenner LLP Chartered Accountants 28 Alexandra Terrace Exmouth Devon EX8 1BD

VBM Cartwright Properties Limited

(Registration number: 14051504)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	297,674	326,409
Tangible assets	5	21,120	8,281
		318,794	334,690
Current assets
Debtors	6	34,529	14,686
Cash at bank and in hand		21,639	37,314
		56,168	52,000
Creditors: Amounts falling due within one year	7	(214,937)	(199,548)
Net current liabilities		(158,769)	(147,548)
Total assets less current liabilities		160,025	187,142
Creditors: Amounts falling due after more than one year	7	(137,011)	(192,493)
Provisions for liabilities		(672)	(1,574)
Net assets/(liabilities)		22,342	(6,925)
Capital and reserves
Called up share capital		100	100
Retained earnings		22,242	(7,025)
Shareholders' funds/(deficit)		22,342	(6,925)

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

VBM Cartwright Properties Limited

(Registration number: 14051504)
Balance Sheet as at 31 August 2025

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 May 2026
 

......................................... Mr T A Cartwright Director

VBM Cartwright Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

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

The address of its registered office is:
17 Gould Place
Newton Abbot
Devon
TQ12 4FP

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The director ackowledges the negative equity position on the balance sheet at the period end and has pledged to provide continued support to ensure that the company is able to meet it's financial obligations as they fall due. The accounts have therefore been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

VBM Cartwright Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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 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
Office Equipment	25% Straight Line Method
Computer Equipment	25% Straight Line Method
Motor Vehicles	25% Reducing Balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10 years straight line
Franchise cost	5 years straight line

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.

VBM Cartwright Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

VBM Cartwright Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 3).

4	Intangible assets

	Goodwill  £	Franchise cost  £	Total £
Cost or valuation
At 1 September 2024	363,436	23,050	386,486
Additions acquired separately	13,576	-	13,576
At 31 August 2025	377,012	23,050	400,062
Amortisation
At 1 September 2024	50,858	9,219	60,077
Amortisation charge	37,701	4,610	42,311
At 31 August 2025	88,559	13,829	102,388
Carrying amount
At 31 August 2025	288,453	9,221	297,674
At 31 August 2024	312,578	13,831	326,409

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2024	15,606	-	15,606
Additions	875	21,445	22,320
At 31 August 2025	16,481	21,445	37,926
Depreciation
At 1 September 2024	7,325	-	7,325
Charge for the year	4,120	5,361	9,481
At 31 August 2025	11,445	5,361	16,806
Carrying amount
At 31 August 2025	5,036	16,084	21,120
At 31 August 2024	8,281	-	8,281

VBM Cartwright Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

6

Debtors

	2025 £	2024 £
Trade debtors	30,300	10,457
Other debtors	4,229	4,229
Total current trade and other debtors	34,529	14,686

7

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	87,497	82,997
Trade creditors		4,715	3,316
Taxation and social security		31,395	14,315
Other creditors		89,544	92,674
Accrued expenses		1,680	5,487
Deferred income		106	759
		214,937	199,548

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	137,011	192,493

8	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	35,745	35,745
Other borrowings	51,752	47,252
	87,497	82,997

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	48,240	83,979
Other borrowings	88,771	108,514
	137,011	192,493