REGISTERED NUMBER: 11988008 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 OCTOBER 2025

FOR

VEREDUS PROPERTY LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs R A Hunter

REGISTERED OFFICE:

8 Priory Terrace

Cheltenham

Gloucestershire

GL52 6DS

REGISTERED NUMBER:

11988008 (England and Wales)

ACCOUNTANTS:

Honey Barrett Limited

Chartered Accountants

Pharmacy Chambers

High Street

Wadhurst

East Sussex

TN5 6AP

FIXED ASSETS

Tangible assets

5

1,006

1,342

Investment property

6

1,306,941

1,501,812

1,307,947

1,503,154

CURRENT ASSETS

Debtors

7

-

1,685

Cash at bank

7,410

9,671

7,410

11,356

CREDITORS

Amounts falling due within one year

8

137,433

375,990

NET CURRENT LIABILITIES

(130,023

)

(364,634

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,177,924

1,138,520

CREDITORS

Amounts falling due after more than one year

9

(1,063,972

)

(1,146,664

)

PROVISIONS FOR LIABILITIES

12

(29,594

)

-

NET ASSETS/(LIABILITIES)

84,358

(8,144

)

CAPITAL AND RESERVES

Called up share capital

13

100

100

Non-distributable reserve

14

155,338

108,838

Retained earnings

(71,080

)

(117,082

)

SHAREHOLDERS' FUNDS

84,358

(8,144

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2026 and were signed by:

Mr P E Hunter - Director

Mrs R A Hunter - Director

1.	STATUTORY INFORMATION

Veredus Property Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover comprises rental income on the company's investment properties and is stated on an accruals basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

All fixed assets are originally recorded at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The fair value of the properties at the year end have been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation was arrived at by reference to the market evidence of transaction prices for similar properties in the location the properties are situated.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Trade debtors

Trade debtors are amounts due from customers for 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.

Going concern

The accounts have been prepared on a going concern basis not withstanding the excess of current liabilities over current assets. The directors have confirmed their intention to continue their support to the company for the foreseeable future.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 November 2024

and 31 October 2025

3,181

DEPRECIATION

At 1 November 2024

1,839

Charge for year

336

At 31 October 2025

2,175

NET BOOK VALUE

At 31 October 2025

1,006

At 31 October 2024

1,342

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2024

1,501,812

Disposals

(256,871

)

Fair value adjustment

62,000

At 31 October 2025

1,306,941

NET BOOK VALUE

At 31 October 2025

1,306,941

At 31 October 2024

1,501,812

Fair value at 31 October 2025 is represented by:

£

Valuation in 2021

29,595

Valuation in 2022

66,521

Valuation in 2023

36,000

Valuation in 2024

13,000

Valuation in 2025

62,000

Cost

1,099,825

1,306,941

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Deferred tax asset

-

1,685

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

175,519

Other loans

129,360

194,860

Trade creditors

641

-

Accruals and deferred income

7,432

5,611

137,433

375,990

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans over 5 years

823,105

823,105

Other loans - 1-2 years

51,781

55,514

Other loans - 2-5 years

25,200

25,200

Directors' loan accounts

163,886

242,845

1,063,972

1,146,664

Amounts falling due in more than five years:

Repayable by instalments

Bank loans over 5 years

823,105

823,105

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

-

39,600

Between one and five years

-

133,100

-

172,700

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

823,105

998,624

Bank loans are secured by charges on the company's investment property and by a floating charge on the assets of the company

12.	PROVISIONS FOR LIABILITIES

2025

£

Deferred tax

Accelerated capital allowances

252

Tax losses carried forward

(22,437

)

Other timing differences

51,779

29,594

Deferred tax

£

Balance at 1 November 2024

(1,685

)

Provided during year

31,279

Balance at 31 October 2025

29,594

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

37

Ordinary 'A'

£1

37

37

37

Ordinary 'B'

£1

37

37

26

Ordinary 'C'

£1

26

26

100

100

14.

RESERVES

Non-distributable

reserve

£

At 1 November 2024

108,838

Fair value adjustment

46,500

At 31 October 2025

155,338

15.	RELATED PARTY DISCLOSURES

Included within directors loans is a loan to the company of £170,000, repayable in 2032, on which interest is paid at a rate of 11% per annum.