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COMPANY REGISTRATION NUMBER: 12994778
Ventura Holdings Nottingham Ltd
Filleted Unaudited Financial Statements
30 November 2023
Ventura Holdings Nottingham Ltd
Financial Statements
Year ended 30 November 2023
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
Ventura Holdings Nottingham Ltd
Officers and Professional Advisers
The board of directors
JD Roberts
KL Fletcher
WC Williamson
Registered office
123 Priestsic Road
Sutton-in-Ashfield
Nottinghamshire
England
NG17 4EA
Accountants
Gregory Priestley & Stewart
Chartered accountants
Alexandra House
123 Priestsic Road
Sutton-in-Ashfield
Nottinghamshire
NG17 4EA
Ventura Holdings Nottingham Ltd
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
449,471
450,849
Current assets
Debtors
5
159
51,344
Cash at bank and in hand
6,500
1,757
-------
--------
6,659
53,101
Creditors: amounts falling due within one year
6
50,306
116,918
--------
---------
Net current liabilities
43,647
63,817
---------
---------
Total assets less current liabilities
405,824
387,032
Creditors: amounts falling due after more than one year
7
296,694
296,694
Provisions
12,977
10,755
---------
---------
Net assets
96,153
79,583
---------
---------
Capital and reserves
Called up share capital
100
100
Fair Value reserve
92,138
92,138
Profit and loss account
3,915
( 12,655)
--------
--------
Shareholders funds
96,153
79,583
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ventura Holdings Nottingham Ltd
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 23 August 2024 , and are signed on behalf of the board by:
JD Roberts
WC Williamson
Director
Director
Company registration number: 12994778
Ventura Holdings Nottingham Ltd
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 123 Priestsic Road, Sutton-in-Ashfield, Nottinghamshire, NG17 4EA, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent, stated net discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
3 years
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
4. Tangible assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
448,309
5,294
453,603
---------
-------
---------
Depreciation
At 1 December 2022
2,754
2,754
Charge for the year
1,378
1,378
---------
-------
---------
At 30 November 2023
4,132
4,132
---------
-------
---------
Carrying amount
At 30 November 2023
448,309
1,162
449,471
---------
-------
---------
At 30 November 2022
448,309
2,540
450,849
---------
-------
---------
The freehold property was revalued by the Directors at the balance sheet date.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Freehold property
£
At 30 November 2023
Aggregate cost
341,479
Aggregate depreciation
(20,489)
---------
Carrying value
320,990
---------
At 30 November 2022
Aggregate cost
341,479
Aggregate depreciation
(13,659)
---------
Carrying value
327,820
---------
5. Debtors
2023
2022
£
£
Other debtors
159
51,344
----
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
50,306
116,918
--------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
296,694
296,694
---------
---------
Bank loans totalling £296,694 (2022: £296,694) are secured against the Investment Properties as to which the loans relate. Included within creditors: amounts falling due after more than one year is an amount of £296,694 (2022: £296,694) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date. The loans repayable after more than five years are interest only loans with interest being charged at 4.34%.
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
JD Roberts
3,795
( 4,100)
( 305)
KL Fletcher
( 100,000)
80,262
( 19,738)
---------
--------
-------
--------
( 96,205)
80,262
( 4,100)
( 20,043)
---------
--------
-------
--------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
JD Roberts
3,795
3,795
KL Fletcher
( 100,472)
472
( 100,000)
---------
-------
----
---------
( 100,472)
4,267
( 96,205)
---------
-------
----
---------
Directors' advance, credit and guarantees contain total amount of all advances/credits obtained by the entity from its directors and total amount of all such repayments. Any interest will be assessed based on HMRC regulations. The remaining balance should be repayable upon request.