Company No: 01809021 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	396,759		360,339
		396,759		360,339
Current assets
Stocks		201,160		188,000
Debtors	4	288,561		191,215
Cash at bank and in hand		47,141		39,171
		536,862		418,386
Creditors: amounts falling due within one year	5	( 306,436)		( 240,246)
Net current assets		230,426		178,140
Total assets less current liabilities		627,185		538,479
Creditors: amounts falling due after more than one year	6	( 73,020)		( 54,752)
Provision for liabilities	7	( 70,962)		( 61,769)
Net assets		483,203		421,958
Capital and reserves
Called-up share capital		47		47
Capital redemption reserve		52		52
Profit and loss account		483,104		421,859
Total shareholder's funds		483,203		421,958

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.

Directors' responsibilities:

• The member has 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 Profit and Loss Account has not been delivered.

The financial statements of VGG Limited (registered number: 01809021) were approved and authorised for issue by the Board of Directors on 29 May 2026. They were signed on its behalf by:

S J Vincent Director

A J Vincent 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

VGG Limited (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 14 Gazelle Road, Lynx Trading Estate, Yeovil, Somerset, BA20 2PJ, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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 Balance Sheet date. Tax is recognised in the profit and loss account, 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.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	100 years straight line
Leasehold improvements	15 % reducing balance
Vehicles	25 % reducing balance
Computer equipment	25 % reducing balance
Other property, plant and equipment	10 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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. 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.

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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. 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.

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	11		12

3. Tangible assets

	Land and buildings		Leasehold improve- ments		Vehicles		Computer equipment		Other property, plant and equipment		Total
	£		£		£		£		£		£
Cost
At 01 September 2024	147,450		13,341		210,464		22,635		572,107		965,997
Additions	0		0		71,047		730		5,802		77,579
Disposals	0		0		( 1,700)		0		0		( 1,700)
At 31 August 2025	147,450		13,341		279,811		23,365		577,909		1,041,876
Accumulated depreciation
At 01 September 2024	40,290		5,923		157,544		18,455		383,446		605,658
Charge for the financial year	1,474		1,113		17,869		1,212		19,269		40,937
Disposals	0		0		( 1,478)		0		0		( 1,478)
At 31 August 2025	41,764		7,036		173,935		19,667		402,715		645,117
Net book value
At 31 August 2025	105,686		6,305		105,876		3,698		175,194		396,759
At 31 August 2024	107,160		7,418		52,920		4,180		188,661		360,339

4. Debtors

	2025		2024
	£		£
Trade debtors	226,544		155,250
Amounts owed by directors	13,520		4,500
Prepayments	44,898		19,528
Other debtors	3,599		11,937
	288,561		191,215

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts	42,873		9,054
Trade creditors	151,407		138,352
Amounts owed to connected companies	2,464		2,464
Corporation tax	13,282		16,286
Other taxation and social security	27,027		26,909
Obligations under finance leases and hire purchase contracts (secured)	47,584		28,827
Other creditors	21,799		18,354
	306,436		240,246

Amounts owed to connected companies are repayable on demand and do not bear interest.

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

	2025		2024
	£		£
Bank loans	30,907		13,266
Obligations under finance leases and hire purchase contracts (secured)	42,113		41,486
	73,020		54,752

Within bank borrowings is a balance of £13,238 (2024 - £22,320) relating to an outstanding amount due from a Coronavirus Bounce Back Loan. The UK government have guaranteed 100% of the value of this loan.

No other security has been given on any other bank loans and overdrafts.

The hire purchase contracts are secured on the assets concerned which are included within vehicles and other property, plant and equipment. The total net book value of the assets held on hire purchase is £167,436 (2024 - £119,293).

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	70,962		61,769

8. Related party transactions

Transactions with the entity's directors

Advances

The director's loan accounts are repayable on demand and interest has been charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 September 2024 the balance owed from the directors was £4,500. During the year, the company made advances to directors amounting to £46,520 and received repayments of £37,500 leaving a balance due from the directors of £13,520.

At 1 September 2023 the balance owed from the directors was £360. During the year, the company made advances to directors amounting to £4,500 and received repayments of £360 leaving a balance due from the directors of £4,500.