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Registered Number: 10899295
England and Wales

 

 

 

VOTEL VENUES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3   2,500 
Tangible fixed assets 4 16,342    14,731 
16,342    17,231 
Current assets      
Debtors: amounts falling due within one year 14,608    218,283 
Cash at bank and in hand 373,158    246,340 
387,766    464,623 
Creditors: amount falling due within one year (327,331)   (438,210)
Net current assets 60,435    26,413 
 
Total assets less current liabilities 76,777    43,644 
Creditors: amount falling due after more than one year (33,973)   (39,665)
Provisions for liabilities (2,246)  
Net assets 40,558    3,979 
 

Capital and reserves
     
Called up share capital 5 200    200 
Profit and loss account 40,358    3,779 
Shareholder's funds 40,558    3,979 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 16 April 2024 and were signed on its behalf by:


-------------------------------
Ian Conder
Director
-------------------------------
Alexi Hughes
Director
1
General Information
Votel Venues Limited is a private company, limited by shares, registered in England and Wales, registration number 10899295, registration address 20 Firwood Avenue, St Albans, Hertfordshire, AL4 0TF. The trading address of the company is Redfern House, 105 Ashley Road, St Albans, Hertfordshire, AL1 5DE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Change in accounting policy
The company has prepared the financial statements in accordance with the Financial Reporting Standards for small companies (FRS 102 1A) for the first time.  This is a change from the previous years , which were reported in compliance with FRS 105 for micro companies.  The prior year has not been restated as there are no material adjustments necessary.  The only change in accounting policy relates to the recognition of deferred tax which FRS105 does not permit. 
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover includes revenue earned from the rendering of service, the policies adopted are as follows: 
  • Rendering of Services
    Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.  In most cases completion is once the event has been undertaken, however, where necessary, the stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
  • Other Revenue
    Other revenue is recognised when it is received or when the right to receive payment is established.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.  Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.  Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over 4 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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.
2.

Average number of employees

Average number of employees during the year was 15 (2022 : 11).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 January 2023 10,000    10,000 
Additions  
Disposals  
At 31 December 2023 10,000    10,000 
Amortisation
At 01 January 2023 7,500    7,500 
Charge for year 2,500    2,500 
On disposals  
At 31 December 2023 10,000    10,000 
Net book values
At 31 December 2023  
At 31 December 2022 2,500    2,500 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 January 2023 867    19,425    20,292 
Additions   5,697    5,697 
Disposals    
At 31 December 2023 867    25,122    25,989 
Depreciation
At 01 January 2023 370    5,191    5,561 
Charge for year 100    3,986    4,086 
On disposals    
At 31 December 2023 470    9,177    9,647 
Net book values
Closing balance as at 31 December 2023 397    15,945    16,342 
Opening balance as at 01 January 2023 497    14,234    14,731 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
50 Ordinary A shares of £1.00 each 50    50 
50 Ordinary B shares of £1.00 each 50    50 
200    200 

2