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REGISTERED NUMBER: SC043887 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

VENTURA (SCOTLAND) LIMITED

VENTURA (SCOTLAND) LIMITED (REGISTERED NUMBER: SC043887)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VENTURA (SCOTLAND) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Keith Charles Bell
Barbara Ann Bell



SECRETARY: Keith Charles Bell



REGISTERED OFFICE: 24 Beresford Terrace
Ayr
KA7 2EG



REGISTERED NUMBER: SC043887 (Scotland)



ACCOUNTANTS: Stewart Gilmour & Co.
Chartered Accountants
24 Beresford Terrace
Ayr
KA7 2EG



BANKERS: Bank of Scotland
7-13 Port Street
Stirling
FK8 2EJ

VENTURA (SCOTLAND) LIMITED (REGISTERED NUMBER: SC043887)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,364 2,275
Investments 5 758 798
Investment property 6 270,000 270,000
273,122 273,073

CURRENT ASSETS
Debtors 7 222 226
Cash at bank and in hand 8,135 11,867
8,357 12,093
CREDITORS
Amounts falling due within one year 8 15,635 14,476
NET CURRENT LIABILITIES (7,278 ) (2,383 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,844

270,690

CREDITORS
Amounts falling due after more than one
year

9

(90,201

)

(90,201

)

PROVISIONS FOR LIABILITIES (449 ) (432 )
NET ASSETS 175,194 180,057

CAPITAL AND RESERVES
Called up share capital 11 10,100 10,100
Capital reserve 85,000 85,000
Retained earnings 80,094 84,957
SHAREHOLDERS' FUNDS 175,194 180,057

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

VENTURA (SCOTLAND) LIMITED (REGISTERED NUMBER: SC043887)

BALANCE SHEET - continued
31 OCTOBER 2023


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 18 October 2024 and were signed on its behalf by:





Keith Charles Bell - Director


VENTURA (SCOTLAND) LIMITED (REGISTERED NUMBER: SC043887)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Ventura (Scotland) Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover represents the total amounts receivable from the letting of company properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 12.5% on reducing balance

Investment properties
In accordance with FRS 102, investment properties are revalued annually at fair value. Changes to fair value are reflected in the profit and loss account. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principles set out in FRS 102. The director considers that, because these properties are held to earn rental income and for their investment potential rather than for their consumption, to depreciate them would not give a true and fair view, and that it is necessary to apply FRS 102 in order to give a true and fair view.

If this departure from the Act had not been made, the reported net profit for the financial year would have been reduced by additional depreciation of £4,317 (2022 - £4,317).

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Investments
Investments held as fixed assets are stated at cost less any provision for permanent diminution in value. These funds are retained to assist in the future development of the company.

VENTURA (SCOTLAND) LIMITED (REGISTERED NUMBER: SC043887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2022 9,572 - 9,572
Additions - 499 499
At 31 October 2023 9,572 499 10,071
DEPRECIATION
At 1 November 2022 7,297 - 7,297
Charge for year 285 125 410
At 31 October 2023 7,582 125 7,707
NET BOOK VALUE
At 31 October 2023 1,990 374 2,364
At 31 October 2022 2,275 - 2,275

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2022
and 31 October 2023 10,412
PROVISIONS
At 1 November 2022 9,614
Provision for year 40
At 31 October 2023 9,654
NET BOOK VALUE
At 31 October 2023 758
At 31 October 2022 798

VENTURA (SCOTLAND) LIMITED (REGISTERED NUMBER: SC043887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 270,000
NET BOOK VALUE
At 31 October 2023 270,000
At 31 October 2022 270,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2023 270,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 172,690 172,690
Aggregate depreciation (112,539 ) (112,539 )

The two investment properties were valued on a fair values basis on 31 October 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 222 226

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 10 -
Other creditors 15,625 14,476
15,635 14,476

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 90,201 90,201

VENTURA (SCOTLAND) LIMITED (REGISTERED NUMBER: SC043887)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans due after more
than 5 years non-instalments 90,201 90,201
90,201 90,201

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 90,201 90,201

A security has been granted over a company investment property at 19 Smiddy View, Cambusbarron, Stirling, in respect of the above loan.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000
10,000 5% Non-cumulative preferred
ordinary 1p 100 100
10,100 10,100

The holder of the preferred ordinary shares has waived his right to the preferential dividend.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Keith Charles Bell.