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VERVE HORSHAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Verve Horsham Limited ("the Company") is a private company limited by shares and incorporated in England and Wales. The registered office of the Company is 40 Hyde Park Gardens Mews, London, W2 2NX.
The principal activity of the Company is that of holding property stock.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis. The directors consider the going concern basis to be appropriate because the Company is unlikely to incur any material costs during the next 12 months and post year end on 11th May 2026, the loan from the current lender (Verve Group Limited) was fully repaid.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Land and building development costs are accounted for as stock of properties and is stated at the lower of cost and net realisable value. Cost is valued on the basis of direct costs plus attributable overheads. No element of profit is included in the valuation of land and buildings development costs.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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