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REGISTERED NUMBER: 00939718 (England and Wales)












Venetian Marine (Nantwich) Limited

Financial Statements

for the Year Ended 31 March 2024






Venetian Marine (Nantwich) Limited (Registered number: 00939718)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Venetian Marine (Nantwich) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R J Steele
N D Steele
C R Steele
R J P Steele





SECRETARY: N D Steele





REGISTERED OFFICE: Whilton Locks
Whilton
Daventry
Northamptonshire
NN11 2NH





REGISTERED NUMBER: 00939718 (England and Wales)





AUDITORS: Kilby Fox
Statutory Auditor
4 Pavilion Court
600 Pavilion Drive
Northampton Business Park
Northampton
Northamptonshire
NN4 7SL

Venetian Marine (Nantwich) Limited (Registered number: 00939718)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,396,004 2,402,011
2,396,004 2,402,011

CURRENT ASSETS
Stocks 22,000 119,000
Debtors 6 20,869 18,897
Cash at bank and in hand 33,942 103,357
76,811 241,254
CREDITORS
Amounts falling due within one year 7 68,477 96,090
NET CURRENT ASSETS 8,334 145,164
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,404,338

2,547,175

CREDITORS
Amounts falling due after more than one year 8 (439,715 ) (539,783 )

PROVISIONS FOR LIABILITIES (251,100 ) (251,100 )
NET ASSETS 1,713,523 1,756,292

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Revaluation reserve 11 750,000 750,000
Retained earnings 953,523 996,292
SHAREHOLDERS' FUNDS 1,713,523 1,756,292

Venetian Marine (Nantwich) Limited (Registered number: 00939718)

Balance Sheet - continued
31 March 2024


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 6 August 2024 and were signed on its behalf by:




N D Steele - Director



R J Steele - Director


Venetian Marine (Nantwich) Limited (Registered number: 00939718)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Venetian Marine (Nantwich) 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Property improvements - not provided
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on cost

Depreciation has not been provided in respect of the company's freehold property and property improvements. The directors consider that the property and improvements are maintained to a high standard and any element of depreciation would be immaterial. No provision has therefore been included in the financial statements.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Venetian Marine (Nantwich) Limited (Registered number: 00939718)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2023
and 31 March 2024 2,170
AMORTISATION
At 1 April 2023
and 31 March 2024 2,170
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Venetian Marine (Nantwich) Limited (Registered number: 00939718)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Freehold Property Plant and
property improvements machinery
£    £    £   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 1,148,728 1,222,018 215,641
DEPRECIATION
At 1 April 2023 - - 198,079
Charge for year - - 3,342
At 31 March 2024 - - 201,421
NET BOOK VALUE
At 31 March 2024 1,148,728 1,222,018 14,220
At 31 March 2023 1,148,728 1,222,018 17,562

Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 90,686 6,500 10,339 2,693,912
DEPRECIATION
At 1 April 2023 77,471 6,012 10,339 291,901
Charge for year 2,515 150 - 6,007
At 31 March 2024 79,986 6,162 10,339 297,908
NET BOOK VALUE
At 31 March 2024 10,700 338 - 2,396,004
At 31 March 2023 13,215 488 - 2,402,011

Cost or valuation at 31 March 2024 is represented by:

Freehold Property Plant and
property improvements machinery
£    £    £   
Valuation in 2020 1,000,000 - -
Cost 148,728 1,222,018 215,641
1,148,728 1,222,018 215,641

Venetian Marine (Nantwich) Limited (Registered number: 00939718)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2020 - - - 1,000,000
Cost 90,686 6,500 10,339 1,693,912
90,686 6,500 10,339 2,693,912

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1 65
Prepayments and accrued income 20,868 18,832
20,869 18,897

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account 11,238 9,938
Trade creditors 38,931 36,811
Corporation tax 45 19,483
Social security and other taxes 3,500 3,773
VAT 1,740 12,670
Other creditors 1,023 1,415
Accruals and deferred income 12,000 12,000
68,477 96,090

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 439,715 539,783

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 2,957 2,957

10. SECURED DEBTS

The assets of Venetian Marine (Nantwich) Limited are given as security by Whilton Marina Limited for that Company's bank loan.

Venetian Marine (Nantwich) Limited (Registered number: 00939718)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 750,000

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Crooke FCCA (Senior Statutory Auditor)
for and on behalf of Kilby Fox

13. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

14. ULTIMATE CONTROLLING PARTY

There is no one ultimate controlling party.