Vreshp (Affordable) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 13386483 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

VRESHP (AFFORDABLE) LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

55,326

57,732

Investments

5

-

36

Investment property

6

25,375,018

37,194,150

25,430,344

37,251,918

CURRENT ASSETS

Debtors

7

1,526,273

1,477,508

Cash at bank

348,067

708,071

1,874,340

2,185,579

CREDITORS

Amounts falling due within one year

8

(32,505,914

)

(40,340,777

)

NET CURRENT LIABILITIES

(30,631,574

)

(38,155,198

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,201,230

)

(903,280

)

CREDITORS

Amounts falling due after more than one
year

9

(4,350,841

)

(4,119,550

)

PROVISIONS FOR LIABILITIES

11

-

(144,519

)

NET LIABILITIES

(9,552,071

)

(5,167,349

)

CAPITAL AND RESERVES

Called up share capital

12

101

Revaluation reserve

13

(5,256,214

)

(1,815,907

)

Retained earnings

(4,295,958

)

(3,351,543

)

SHAREHOLDERS' FUNDS

(9,552,071

)

(5,167,349

)

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 Board of Directors and authorised for issue on 29 June 2026 and were signed on its behalf by:

R W H Taylor - Director

1.	STATUTORY INFORMATION

Vreshp (Affordable) Limited is a private company limited by shares, registered in England and Wales. The company's registered number is 13386483 and registered office is 3rd Floor, 3-5 Rathbone Place, London, England, W1T 1HJ.

The presentational currency of the financial statements and the functional currency of the company is Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Related party exemption

The company has taken advantage of the exemption, under the terms of Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the rental income received or receivable from tenants. Leases that include a rent-free period or stepped rent have their rental income spread over the term of the lease or for the term to the next lease break if it is anticipated that the tenant will exercise their break option.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

over the life of the lease

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less provision for impairments.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade debtors, other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including trade creditors, other creditors and amounts owed to group undertakings, that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

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.

Finance costs

Finance costs include interest on bank loans, interest on shareholder loans and associated costs of obtaining finance.

The bank loan attracted a fixed interest rate of 4.87% during the year and increased to 7.45% from 1 January 2026. The loan is repayable on a quarterly basis..The loans with the shareholders bear interest at a rate of 5.5%. The interest accrues and compounds quarterly. Costs associated with obtaining finance are spread over the term of the loan, which expires in December 2026.

Going concern

The directors intend to dispose of all the investment properties held by the company within the next twelve months and, following disposal, the company will cease operations and be wound up. Accordingly, the directors have prepared the accounts on a basis other than the going concern basis. This basis includes, where applicable, writing the company's assets down to net realisable value. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Short

leasehold

£

COST

At 1 January 2025

and 31 December 2025

60,137

DEPRECIATION

At 1 January 2025

2,405

Charge for year

2,406

At 31 December 2025

4,811

NET BOOK VALUE

At 31 December 2025

55,326

At 31 December 2024

57,732

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2025

36

Disposals

(36

)

At 31 December 2025

-

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

36

At the year end the company has control of the following companies limited by guarantee:

SB RTM Company Limited

Registered office: 50 Friar Lane, Nottingham, NG1 6DQ