Venus Building Company Limited Filleted Accounts Cover
Venus Building Company Limited
Company No. 03986311
Information for Filing with The Registrar
31 May 2024
Venus Building Company Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 May 2024.
Principal activities
The principal activity of the company during the year under review was Property Management .
Directors
The Directors who served at any time during the year were as follows:
E.M. Soteriou
S.M. Soteriou
V.M. Soteriou
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
V.M. Soteriou
Company Secretary
28 June 2024
Venus Building Company Limited Balance Sheet Registrar
at
31 May 2024
Company No.
03986311
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
189252
Investment property
5
405,000405,000
405,189405,252
Current assets
Debtors
6
2,03027
Cash at bank and in hand
8,68015,313
10,71015,340
Creditors: Amount falling due within one year
7
(8,315)
(9,012)
Net current assets
2,3956,328
Total assets less current liabilities
407,584411,580
Creditors: Amounts falling due after more than one year
8
(1,400)
(1,050)
Net assets
406,184410,530
Capital and reserves
Called up share capital
-1,000
Revaluation reserve
9
160,000160,000
Profit and loss account
9
406,184249,530
Total equity
566,184410,530
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 28 June 2024 and signed on its behalf by:
V.M. Soteriou
Director
28 June 2024
Venus Building Company Limited Notes to the Accounts Registrar
for the year ended 31 May 2024
1
General information
Venus Building Company Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 03986311
Its registered office is:
Its trading address is:
Larks Rise Gower Lane
86 East Street
Woodcroft
Bedminster
Chepstow
Bristol
Gloucestershire
NP16 7PZ
BS3 4EY
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
25% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
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.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
33
4
Tangible fixed assets
Plant and machinery
Total
£
£
Cost or revaluation
At 1 June 2023
763763
At 31 May 2024
763763
Depreciation
At 1 June 2023
511511
Charge for the year
6363
At 31 May 2024
574574
Net book values
At 31 May 2024
189189
At 31 May 2023
252
252
5
Investment property
Freehold Investment Property
£
Valuation
At 1 June 2023
405,000
At 31 May 2024
405,000
6
Debtors
2024
2023
£
£
Trade debtors
2,000-
Prepayments and accrued income
3027
2,03027
7
Creditors:
amounts falling due within one year
2024
2023
£
£
Taxes and social security
7,189
7,422
Loans from directors
83228
Other creditors
-350
Accruals and deferred income
1,0431,012
8,3159,012
8
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,4001,050
1,4001,050
9
Reserves
Revaluation Reserve
Total other reserves
£
£
Movement on revaluation reserve
160,000
160,000
At 31 May 2023 and 1 June 2023
160,000
160,000
At 31 May 2024
160,000160,000
Revaluation reserve - reflects the revaluation of property other than investment properties.
Profit and loss account - includes all current and prior period retained profits and losses.
10
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
30,000
20,000
30,000
20,000
Dividends by type:
Equity dividends
30,00020,000
30,000
20,000
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