REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2024 |
for |
Venn House Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2024 |
for |
Venn House Limited |
Venn House Limited (Registered number: 01732239) |
Contents of the Financial Statements |
for the Year Ended 31st March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Venn House Limited |
Company Information |
for the Year Ended 31st March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Delmon House |
36-38 Church Road |
Burgess Hill |
West Sussex |
RH15 9AE |
BANKERS: |
62/63 Threadneedle Street |
PO Box 412 |
London |
EC2R 8LA |
Venn House Limited (Registered number: 01732239) |
Statement of Financial Position |
31st March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
Venn House Limited (Registered number: 01732239) |
Statement of Financial Position - continued |
31st March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Non distributable Fair Value Gains |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
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 |
Venn House Limited (Registered number: 01732239) |
Notes to the Financial Statements |
for the Year Ended 31st March 2024 |
1. | STATUTORY INFORMATION |
Venn House Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 a recent offer to purchase the property. |
Unlisted investments have also been revalued to Fair Value, based on a share price obtained in a recent issue of capital. |
Deferred tax has been estimated based on the gain from initial cost to the current valuation. The provision is shown at 25% of the gain, on the assumption that this would be the rate of tax payable if the property were sold in the near future. |
Turnover |
Turnover represents rents receivable during the year. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
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 statement of financial position date. |
Venn House Limited (Registered number: 01732239) |
Notes to the Financial Statements - continued |
for the Year Ended 31st 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 statement of financial position 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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st April 2023 |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Venn House Limited (Registered number: 01732239) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1st April 2023 |
Revaluations |
Reversal of impairments |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Cost or valuation at 31st March 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2024 | 76,000 |
Cost | 270,000 |
346,000 |
If unlisted investments had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 270,000 | 270,000 |
Fixed asset investments were valued on an open market basis on 31st March 2024 by the directors . |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2023 |
Revaluations | 287,466 |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Venn House Limited (Registered number: 01732239) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 31st March 2024 is represented by: |
£ |
Valuation in 2000 | 287,176 |
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 |
Valuation in 2024 | 287,466 |
Cost | 283,715 |
1,900,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 283,715 | 283,715 |
Aggregate depreciation | (226,970 | ) | (221,296 | ) |
Investment property was valued on an open market basis on 31st March 2024 by the directors . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security | ( |
) | ( |
) |
Other creditors |
Venn House Limited (Registered number: 01732239) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank Loan 5+ years | 413,869 | 417,532 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Bank loans are secured against the investment property. |
11. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 315,939 | 165,112 |
Deferred |
tax |
£ |
Balance at 1st April 2023 |
Accelerated Capital Allowances | (930 | ) |
On Fair Value gain | 145,160 |
Losses | 6,597 |
Balance at 31st March 2024 |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |