Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31Chartered Accountants and business advisors2023-02-01false5755truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03570522 2023-02-01 2024-01-31 03570522 2022-02-01 2023-01-31 03570522 2024-01-31 03570522 2023-01-31 03570522 c:Director7 2023-02-01 2024-01-31 03570522 d:Buildings d:ShortLeaseholdAssets 2023-02-01 2024-01-31 03570522 d:Buildings d:ShortLeaseholdAssets 2024-01-31 03570522 d:Buildings d:ShortLeaseholdAssets 2023-01-31 03570522 d:MotorVehicles 2023-02-01 2024-01-31 03570522 d:MotorVehicles 2024-01-31 03570522 d:MotorVehicles 2023-01-31 03570522 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03570522 d:FurnitureFittings 2023-02-01 2024-01-31 03570522 d:FurnitureFittings 2024-01-31 03570522 d:FurnitureFittings 2023-01-31 03570522 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03570522 d:OfficeEquipment 2023-02-01 2024-01-31 03570522 d:OfficeEquipment 2024-01-31 03570522 d:OfficeEquipment 2023-01-31 03570522 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03570522 d:ComputerEquipment 2023-02-01 2024-01-31 03570522 d:ComputerEquipment 2024-01-31 03570522 d:ComputerEquipment 2023-01-31 03570522 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03570522 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 03570522 d:Goodwill 2023-02-01 2024-01-31 03570522 d:Goodwill 2024-01-31 03570522 d:Goodwill 2023-01-31 03570522 d:CurrentFinancialInstruments 2024-01-31 03570522 d:CurrentFinancialInstruments 2023-01-31 03570522 d:Non-currentFinancialInstruments 2024-01-31 03570522 d:Non-currentFinancialInstruments 2023-01-31 03570522 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 03570522 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 03570522 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 03570522 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 03570522 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 03570522 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 03570522 d:ShareCapital 2024-01-31 03570522 d:ShareCapital 2023-01-31 03570522 d:SharePremium 2024-01-31 03570522 d:SharePremium 2023-01-31 03570522 d:RetainedEarningsAccumulatedLosses 2024-01-31 03570522 d:RetainedEarningsAccumulatedLosses 2023-01-31 03570522 c:OrdinaryShareClass1 2023-02-01 2024-01-31 03570522 c:OrdinaryShareClass1 2024-01-31 03570522 c:OrdinaryShareClass1 2023-01-31 03570522 c:OrdinaryShareClass2 2023-02-01 2024-01-31 03570522 c:OrdinaryShareClass2 2023-01-31 03570522 c:OrdinaryShareClass3 2023-02-01 2024-01-31 03570522 c:OrdinaryShareClass3 2023-01-31 03570522 c:FRS102 2023-02-01 2024-01-31 03570522 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 03570522 c:FullAccounts 2023-02-01 2024-01-31 03570522 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 03570522 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 03570522 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 03570522 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-01-31 03570522 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 03570522 2 2023-02-01 2024-01-31 03570522 6 2023-02-01 2024-01-31 03570522 7 2023-02-01 2024-01-31 03570522 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-31 03570522 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 03570522 d:LeasedAssetsHeldAsLessee 2024-01-31 03570522 d:LeasedAssetsHeldAsLessee 2023-01-31 03570522 d:Goodwill d:OwnedIntangibleAssets 2023-02-01 2024-01-31 03570522 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03570522






VENTHAMS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










img58a1.png

 
VENTHAMS LIMITED
REGISTERED NUMBER:03570522

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
255,032
308,600

Tangible assets
 5 
52,132
39,282

Investments
 6 
100
100

  
307,264
347,982

Current assets
  

Stocks
  
89,206
108,346

Debtors: amounts falling due within one year
 7 
1,715,431
1,712,468

Cash at bank and in hand
 8 
215,622
215,846

  
2,020,259
2,036,660

Creditors: amounts falling due within one year
 9 
(1,010,210)
(987,835)

Net current assets
  
 
 
1,010,049
 
 
1,048,825

Total assets less current liabilities
  
1,317,313
1,396,807

Creditors: amounts falling due after more than one year
 10 
(426,788)
(420,218)

  

Net assets
  
890,525
976,589


Capital and reserves
  

Called up share capital 
  
1,000
137,268

Share premium account
  
149,805
149,805

Profit and loss account
  
739,720
689,516

  
890,525
976,589


Page 1

 
VENTHAMS LIMITED
REGISTERED NUMBER:03570522
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S A Rowson
Director

Date: 10 September 2024

Page 2

 
VENTHAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Venthams Limited is a private company limited by share capital and incorporated in England and Wales with registration number 03570522. The address of the registered office is Millhouse, 32-38 East Street, Rochford, Essex, SS4 1DB.
The principal activity is that of Chartered Accountants and business advisers.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
VENTHAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plans

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the statement of comprehensive income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
VENTHAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
over the period of the lease
Motor vehicles
-
25%
Fixtures and fittings
-
15%
Office equipment
-
20%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

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.

Page 5

 
VENTHAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.16

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 57 (2023 -55).


4.


Intangible assets




Goodwill

£



Cost


At 1 February 2023
3,447,443



At 31 January 2024

3,447,443



Amortisation


At 1 February 2023
3,138,843


Charge for the year on owned assets
53,568



At 31 January 2024

3,192,411



Net book value



At 31 January 2024
255,032



At 31 January 2023
308,600



Page 6

 
VENTHAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Short-term leasehold property
Motor vehicles
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 February 2023
40,075
-
74,416
15,189
108,941
238,621


Additions
-
30,096
-
-
6,101
36,197



At 31 January 2024

40,075
30,096
74,416
15,189
115,042
274,818



Depreciation


At 1 February 2023
40,075
-
64,686
11,189
83,389
199,339


Charge for the year on owned assets
-
1,882
3,341
800
17,324
23,347



At 31 January 2024

40,075
1,882
68,027
11,989
100,713
222,686



Net book value



At 31 January 2024
-
28,214
6,389
3,200
14,329
52,132



At 31 January 2023
-
-
9,730
4,000
25,552
39,282

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
28,214
-

28,214
-

Page 7

 
VENTHAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 February 2023
100



At 31 January 2024
100





7.


Debtors

2024
2023
£
£


Trade debtors
1,559,219
1,379,193

Other debtors
20,193
174,524

Prepayments and accrued income
136,019
158,751

1,715,431
1,712,468



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
215,622
215,846

215,622
215,846


Page 8

 
VENTHAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
46,739
44,736

Trade creditors
39,079
32,654

Corporation tax
198,173
258,694

Other taxation and social security
385,150
362,181

Obligations under finance lease and hire purchase contracts
6,576
-

Other creditors
178,251
159,495

Accruals and deferred income
156,242
130,075

1,010,210
987,835


The following liabilities were secured:

2024
2023
£
£



Bank Loans
46,739
44,736

46,739
44,736

Details of security provided:

The bank loans and overdrafts are secured by debenture over the company's assets. Obligations under finance lease and hire purchase contracts are secured against the specific assets.

Page 9

 
VENTHAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
104,203
150,942

Net obligations under finance leases and hire purchase contracts
17,537
-

Other creditors
305,048
269,276

426,788
420,218


The following liabilities were secured:

2024
2023
£
£



Bank Loans
104,203
150,942

104,203
150,942

Details of security provided:

The bank loans are secured by debenture over the company's assets. Obligations under finance lease and hire purchase contracts are secured against the specific assets.


11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
46,739
44,736


46,739
44,736


Amounts falling due 2-5 years

Bank loans
104,203
150,942


104,203
150,942


150,942
195,678


Page 10

 
VENTHAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
6,576
-

Between 1-5 years
17,537
-

24,113
-


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 -1,000) Ordinary shares of £1.00 each
1,000
1,000
0 (2023 -2,685) Ordinary A shares of £0.10 each
-
268
0 (2023 -136,000) Redeemable Preference 2010/2015 shares of £1.00 each
-
136,000

1,000

137,268


136,000 of Redemable Preference Shares  were redeemed on 24 January 2024 at a premium of £0.735 per share. The Ordinary A shares were redeemed on 11 August 2023 and 24 January 2024 at par.


14.


Pension commitments

The Company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the Company in independently administered funds. The pension cost charge represents contributions payable by the Company to the funds and amounted to £197,515 (2023 - £213,493). Contributions totalling £26,043 (2023- £23,364) were payable to the fund at the balance sheet date and are included in creditors.

Page 11