Vicom Property Consultants Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2025

1	General information

Vicom Property Consultants Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.

2	Accounting policies

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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Statement of compliance

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

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.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

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.

Taxation

The tax expense for the period comprises current 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.

Vicom Property Consultants Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2025 (continued)

2	Accounting policies (continued)

Property, plant and equipment

Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and at bank and are subject to an insignificant risk of change in value.

Receivables

Trade and other receivables that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Payables

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other payables 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 and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.

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 distributions to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Vicom Property Consultants Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2025 (continued)

2	Accounting policies (continued)

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

4	Property, plant and equipment

	Computer equipment £
Cost
At 1 December 2024	1,589
At 30 November 2025	1,589
Depreciation
Charge for the year	397
At 30 November 2025	397
Carrying amount
At 30 November 2025	1,192
At 30 November 2024	1,589

5	Receivables

	2025 £	2024 £
Other receivables	-	30,000
	-	30,000

6	Cash and cash equivalents

	2025 £	2024 £
Cash at bank	87,783	71,007

Vicom Property Consultants Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2025 (continued)

7

Payables

	2025 £	2024 £
Due within one year
Trade payables	1,080	2,040
Directors' loans	36	32
Taxation and social security	7,745	7,070
Accruals and deferred income	4,413	4,353
Other creditors	-	3,891
	13,274	17,386

8	Share capital and reserves

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

The company has one class of share capital which carries no right to fixed income.

Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

9

Dividends

		2025		2024
		£		£
Interim dividend of £5,550.00 (2024 - £9,325.00) per ordinary share		11,100		18,650

Vicom Property Consultants Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2025 (continued)

10	Related party transactions

The company was under the control of Mr P R and Mrs S J Harwood throughout the current and previous year. They are the directors and shareholders of the company.

Business strategy and consultancy services of £30,000 (2024: £40,000) were provided to Centro Plc during the year, a company in which Mr P R Harwood is a director and has an interest in share capital.

During the year, the company wrote off a loan balance due from Centro Plc of £30,000. The loan was unsecured, interest free and repayable on demand. The amount written off has been recognised in the Income statement. No balance remained outstanding at the year end.

During the year, the company wrote off a loan balance due to Centro Commercial Ltd of £3,891, a company of which Mr P R Harwood is also a director. The loan was unsecured, interest free and repayable on demand. The amount written off has been recognised in the Income statement. No balance remained outstanding at the year end.