NO 24 THE VAULTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs R K Hyllen

K H J Hyllen

REGISTERED OFFICE:

24 Silver Street

Bradford On Avon

United Kingdom

Wiltshire

BA15 1JZ

REGISTERED NUMBER:

11352493 (England and Wales)

ACCOUNTANTS:

Bowen Accountants Ltd

Chartered Accountants

Unit 1 Gate Farm

High Street

Sutton Benger

Chippenham

Wiltshire

SN15 4RE

FIXED ASSETS

Tangible assets

4

514

1,317

Investment property

5

350,079

350,079

350,593

351,396

CURRENT ASSETS

Debtors

6

-

593

Prepayments and accrued income

592

-

Cash at bank

241

1,788

833

2,381

CREDITORS

Amounts falling due within one year

7

99,449

113,843

NET CURRENT LIABILITIES

(98,616

)

(111,462

)

TOTAL ASSETS LESS CURRENT LIABILITIES

251,977

239,934

CREDITORS

Amounts falling due after more than one year

8

(133,912

)

(147,332

)

PROVISIONS FOR LIABILITIES

(12,018

)

(12,170

)

ACCRUALS AND DEFERRED INCOME

(2,700

)

(2,844

)

NET ASSETS

103,347

77,588

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

9

50,815

50,815

Retained earnings

52,531

26,772

103,347

77,588

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2026 and were signed on its behalf by:

K H J Hyllen - Director

1.	STATUTORY INFORMATION

No 24 The Vaults 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.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Office equipment

-

15% on reducing balance

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 April 2025

and 31 March 2026

6,757

DEPRECIATION

At 1 April 2025

5,440

Charge for year

803

At 31 March 2026

6,243

NET BOOK VALUE

At 31 March 2026

514

At 31 March 2025

1,317

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

350,079

NET BOOK VALUE

At 31 March 2026

350,079

At 31 March 2025

350,079

The property was valued at £350,000 by an independent Estate Agent dated 25 April 2022. The fair value gain net of deferred tax was transferred to a non-distributable reserve at this time. The historic cost for the property is £287,345. The director is of the opinion that the most recent valuation remains appropriate.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

-

7

Other debtors

-

586

-

593

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

13,325

2,176

Trade creditors

-

58

Taxation and social security

6,968

2,677

Other creditors

79,156

108,932

99,449

113,843

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

133,912

147,332

9.

RESERVES

Revaluation

reserve

£

At 1 April 2025

and 31 March 2026

50,815

10.	RELATED PARTY DISCLOSURES

The Directors loans totalling £79,156 (2025:£107,932) are non-interest bearing and repayable on demand to the Directors and as such are disclosed within creditors due within 1 year in the Company balance sheet. The Directors have committed to keep these loans in place for as long as the Company requires them.

During the financial year, the Company let office space to Klas Hyllen Architecture Limited a company under

the control of the Directors on a commercial basis and received £27,000 (2025:£12,517) in rent, utility and car charging associated costs.