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REGISTERED NUMBER: 01732239 (England and Wales)
















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: M R Harvey
L V E Watson



REGISTERED OFFICE: Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE



REGISTERED NUMBER: 01732239 (England and Wales)



ACCOUNTANTS: Sigma Partners
Delmon House
36-38 Church Road
Burgess Hill
West Sussex
RH15 9AE



BANKERS: The Royal Bank of Scotland
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 4 601 5,687
Investments 5 346,000 140,000
Investment property 6 1,900,000 1,612,534
2,246,601 1,758,221

CURRENT ASSETS
Debtors 7 14,300 5,479
Cash at bank 8,037 -
22,337 5,479
CREDITORS
Amounts falling due within one year 8 58,570 32,520
NET CURRENT LIABILITIES (36,233 ) (27,041 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,210,368

1,731,180

CREDITORS
Amounts falling due after more than one
year

9

(518,274

)

(528,385

)

PROVISIONS FOR LIABILITIES 11 (315,939 ) (165,112 )
NET ASSETS 1,376,155 1,037,683

Venn House Limited (Registered number: 01732239)

Statement of Financial Position - continued
31st March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 7,500 7,500
Non distributable Fair Value Gains 1,692,285 1,328,819
Retained earnings (323,630 ) (298,636 )
SHAREHOLDERS' FUNDS 1,376,155 1,037,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 3rd October 2024 and were signed on its behalf by:





M R Harvey - Director


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 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st April 2023 12,428 13,406 5,180 31,014
Disposals (12,428 ) (12,338 ) (5,180 ) (29,946 )
At 31st March 2024 - 1,068 - 1,068
DEPRECIATION
At 1st April 2023 9,632 11,216 4,479 25,327
Charge for year 674 497 87 1,258
Eliminated on disposal (10,306 ) (11,246 ) (4,566 ) (26,118 )
At 31st March 2024 - 467 - 467
NET BOOK VALUE
At 31st March 2024 - 601 - 601
At 31st March 2023 2,796 2,190 701 5,687

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 140,000
Revaluations 76,000
Reversal of impairments 130,000
At 31st March 2024 346,000
NET BOOK VALUE
At 31st March 2024 346,000
At 31st March 2023 140,000

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 1,612,534
Revaluations 287,466
At 31st March 2024 1,900,000
NET BOOK VALUE
At 31st March 2024 1,900,000
At 31st March 2023 1,612,534

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 8,821 -
Other debtors 5,479 5,479
14,300 5,479

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 27,835 33,406
Trade creditors 1,753 -
Taxation and social security (4,007 ) (6,690 )
Other creditors 32,989 5,804
58,570 32,520

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 518,274 528,385

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 546,109 557,490

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 165,112
Accelerated Capital Allowances (930 )
On Fair Value gain 145,160
Losses 6,597
Balance at 31st March 2024 315,939

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M R Harvey.