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REGISTERED NUMBER: 01732239 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Venn House Limited

Venn House Limited (Registered number: 01732239)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Venn House Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M R Harvey
L C V E Watson



REGISTERED OFFICE: Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE



REGISTERED NUMBER: 01732239 (England and Wales)



ACCOUNTANTS: Sigma Partners
Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE



BANKERS: The Royal Bank of Scotland
62/63 Threadneedle Street
PO Box 412
London
EC2R 8LA

Venn House Limited (Registered number: 01732239)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,687 6,233
Investments 5 140,000 15,000
Investment property 6 1,612,534 1,288,081
1,758,221 1,309,314

CURRENT ASSETS
Debtors 7 5,479 189,148

CREDITORS
Amounts falling due within one year 8 32,520 47,344
NET CURRENT (LIABILITIES)/ASSETS (27,041 ) 141,804
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,731,180

1,451,118

CREDITORS
Amounts falling due after more than one
year

9

(528,385

)

(542,328

)

PROVISIONS FOR LIABILITIES 11 (165,112 ) (66,697 )
NET ASSETS 1,037,683 842,093

CAPITAL AND RESERVES
Called up share capital 7,500 5,000
Non distributable Fair Value Gains 1,328,819 1,004,365
Retained earnings (298,636 ) (167,272 )
SHAREHOLDERS' FUNDS 1,037,683 842,093

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Venn House Limited (Registered number: 01732239)

Balance Sheet - continued
31 March 2023


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 9 October 2023 and were signed on its behalf by:





M R Harvey - Director


Venn House Limited (Registered number: 01732239)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Venn House Limited 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 as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
The Fair Value of the Investment Property is an area of estimation uncertainty. The value has been based on the last expert valuation undertaken in 2013, uplifted by subsequent increases in the House Price Index. The directors consider that the resulting valuation is reasonable.

Turnover
Turnover represents rents receivable during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% 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.


Venn House Limited (Registered number: 01732239)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 12,428 12,338 4,898 29,664
Additions - 1,068 282 1,350
At 31 March 2023 12,428 13,406 5,180 31,014
DEPRECIATION
At 1 April 2022 8,700 10,486 4,245 23,431
Charge for year 932 730 234 1,896
At 31 March 2023 9,632 11,216 4,479 25,327
NET BOOK VALUE
At 31 March 2023 2,796 2,190 701 5,687
At 31 March 2022 3,728 1,852 653 6,233

Venn House Limited (Registered number: 01732239)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022 15,000
Additions 125,000
At 31 March 2023 140,000
NET BOOK VALUE
At 31 March 2023 140,000
At 31 March 2022 15,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,288,081
Revaluations 324,453
At 31 March 2023 1,612,534
NET BOOK VALUE
At 31 March 2023 1,612,534
At 31 March 2022 1,288,081

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2000 207,176
Valuation in 2002 85,000
Valuation in 2014 363,160
Valuation in 2015 71,055
Valuation in 2016 102,852
Valuation in 2017 34,284
Valuation in 2018 48,344
Valuation in 2019 12,495
Valuation in 2023 324,453
Cost 363,715
1,612,534

Venn House Limited (Registered number: 01732239)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

31.3.23 31.3.22
£    £   
Cost 363,715 363,715
Aggregate depreciation (283,686 ) (276,412 )

Investment property was valued on an open market basis on 31 March 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors - 58,669
Other debtors 5,479 130,479
5,479 189,148

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 33,406 46,154
Trade creditors - 2,622
Taxation and social security (6,690 ) (11,018 )
Other creditors 5,804 9,586
32,520 47,344

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 528,385 542,328

Amounts falling due in more than five years:

Repayable by instalments
Bank Loan 5+ years 417,532 438,208

Venn House Limited (Registered number: 01732239)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 557,490 583,381

Bank loans are secured against the investment property.

11. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 165,112 66,697

Deferred
tax
£   
Balance at 1 April 2022 66,697
Accelerated Capital Allowances (104 )
On Fair Value gain 102,597
Losses (4,078 )
Balance at 31 March 2023 165,112

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
M R Harvey
Balance outstanding at start of year (7,086 ) 16,245
Amounts advanced 34,126 23,762
Amounts repaid (27,345 ) (47,093 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (305 ) (7,086 )

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M R Harvey.