Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30No description of principal activityfalsetrue2023-05-01false33false 02154708 2023-05-01 2024-04-30 02154708 2022-05-01 2023-04-30 02154708 2024-04-30 02154708 2023-04-30 02154708 2022-05-01 02154708 c:Director1 2023-05-01 2024-04-30 02154708 d:FreeholdInvestmentProperty 2024-04-30 02154708 d:FreeholdInvestmentProperty 2023-04-30 02154708 d:CurrentFinancialInstruments 2024-04-30 02154708 d:CurrentFinancialInstruments 2023-04-30 02154708 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 02154708 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02154708 d:ShareCapital 2024-04-30 02154708 d:ShareCapital 2023-04-30 02154708 d:RevaluationReserve 2024-04-30 02154708 d:RevaluationReserve 2023-04-30 02154708 d:OtherMiscellaneousReserve 2023-05-01 2024-04-30 02154708 d:RetainedEarningsAccumulatedLosses 2024-04-30 02154708 d:RetainedEarningsAccumulatedLosses 2023-04-30 02154708 d:OtherDeferredTax 2024-04-30 02154708 d:OtherDeferredTax 2023-04-30 02154708 c:FRS102 2023-05-01 2024-04-30 02154708 c:Audited 2023-05-01 2024-04-30 02154708 c:FullAccounts 2023-05-01 2024-04-30 02154708 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02154708 c:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 02154708 4 2023-05-01 2024-04-30 02154708 5 2023-05-01 2024-04-30 02154708 6 2023-05-01 2024-04-30 02154708 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 02154708









VENTURELINE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
VENTURELINE LIMITED
REGISTERED NUMBER: 02154708

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
2,677
2,677

Investment property
 5 
305,000
305,000

  
307,677
307,677

Current assets
  

Debtors: amounts falling due within one year
 6 
527,269
487,842

Cash at bank and in hand
 7 
4,984
31,437

  
532,253
519,279

Creditors: amounts falling due within one year
 8 
(6,788)
(4,330)

Net current assets
  
 
 
525,465
 
 
514,949

Total assets less current liabilities
  
833,142
822,626

  

Net assets
  
833,142
822,626


Capital and reserves
  

Called up share capital 
  
200
200

Other reserves
 10 
(1,444,136)
(1,444,136)

Profit and loss account
 10 
2,277,078
2,266,562

  
833,142
822,626


Page 1

 
VENTURELINE LIMITED
REGISTERED NUMBER: 02154708
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

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: 




D M Freed
Director

Date: 28 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
VENTURELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Ventureline Limited is a private company limited by shares incorporated in England & Wales (registered number 02154708). The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH. 
The financial statements are presented in Sterling, which is the functional currency of the company.

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.

Page 3

 
VENTURELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
VENTURELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
VENTURELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Fixed asset investments





Investment in joint ventures
Loans to joint ventures
Total

£
£
£



Cost or valuation


At 1 May 2023
8,450
(5,773)
2,677



At 30 April 2024
8,450
(5,773)
2,677





5.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
305,000



At 30 April 2024
305,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.




If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
2,230,516
2,230,516

2,230,516
2,230,516

Page 6

 
VENTURELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£


Trade debtors
11,307
1,384

Amounts owed by joint ventures and associated undertakings
28,000
-

Prepayments and accrued income
6,583
5,079

Deferred taxation
481,379
481,379

527,269
487,842



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
4,984
31,437

4,984
31,437



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,394
2,100

Amounts owed to group undertakings
50
50

Other taxation and social security
1,344
680

Accruals and deferred income
3,000
1,500

6,788
4,330



9.


Deferred taxation




2024
2023


£

£






At beginning of year
481,379
-


Charged to profit or loss
-
481,379



At end of year
481,379
481,379

Page 7

 
VENTURELINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
9.Deferred taxation (continued)

The deferred tax asset is made up as follows:

2024
2023
£
£


Revaluation of investment properties
481,379
481,379

481,379
481,379


10.


Reserves

Other reserves

Includes revaluation of investment property and deferred tax on revaluations.


11.


Controlling party

The intermediate parent company is Sydney Freed (Holdings). The ultimate parent company is Freed Holdings Limited. Both companies are registered in England and Wales. There is no overall controlling party.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 28 October 2024 by Stephen Haffner (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

 
Page 8