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REGISTERED NUMBER: 09741356 (England and Wales)














VENTURE CONSTRUCTION & DEVELOPMENTS
HOLDINGS (WORCESTER) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2023






VENTURE CONSTRUCTION & DEVELOPMENTS
HOLDINGS (WORCESTER) LIMITED (REGISTERED NUMBER: 09741356)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VENTURE CONSTRUCTION & DEVELOPMENTS
HOLDINGS (WORCESTER) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTORS: Mrs S I Tucker
J M Tucker





REGISTERED OFFICE: Beauchamp House
402-403 Stourport Road
Kidderminster
Worcestershire
DY11 7BG





REGISTERED NUMBER: 09741356 (England and Wales)

VENTURE CONSTRUCTION & DEVELOPMENTS
HOLDINGS (WORCESTER) LIMITED (REGISTERED NUMBER: 09741356)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 78,968 88,166
Investments 5 700,500 500
779,468 88,666

CURRENT ASSETS
Debtors 6 382,542 1,128,360
Cash at bank 670 642
383,212 1,129,002
CREDITORS
Amounts falling due within one year 7 153,718 166,405
NET CURRENT ASSETS 229,494 962,597
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,008,962

1,051,263

CREDITORS
Amounts falling due after more than one
year

8

(38,074

)

(55,308

)

PROVISIONS FOR LIABILITIES 10 (461,771 ) (469,589 )
NET ASSETS 509,117 526,366

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 509,017 526,266
SHAREHOLDERS' FUNDS 509,117 526,366

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

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

VENTURE CONSTRUCTION & DEVELOPMENTS
HOLDINGS (WORCESTER) LIMITED (REGISTERED NUMBER: 09741356)

BALANCE SHEET - continued
31ST JULY 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 12th November 2024 and were signed on its behalf by:





J M Tucker - Director


VENTURE CONSTRUCTION & DEVELOPMENTS
HOLDINGS (WORCESTER) LIMITED (REGISTERED NUMBER: 09741356)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

Venture Construction & Developments Holdings (Worcester) 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.

Preparation of consolidated financial statements
The financial statements contain information about Venture Construction & Developments Holdings (Worcester) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 20% 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 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.

VENTURE CONSTRUCTION & DEVELOPMENTS
HOLDINGS (WORCESTER) LIMITED (REGISTERED NUMBER: 09741356)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Retirement benefits
The company provides pension benefits for senior employees, under the terms of the pension contracts entered into with senior employees, fixed sums are provided for now in order to provide pension benefits to the individuals upon their retirement. The pension contracts allow for an annual increase in respect of indexation over and above the initial contracted amount.

Although under section 28 of FRS102 this pension agreement is regarded as being a defined benefit scheme, the directors consider that it does not bear any of the hallmarks of a defined benefit scheme as the company's contributions are fixed until the point of retirement at which point any further contributions of annual increases cease. Further information can be found in note 12 to the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1st August 2022 123,330 156,397 279,727
Additions - 17,124 17,124
At 31st July 2023 123,330 173,521 296,851
DEPRECIATION
At 1st August 2022 64,581 126,980 191,561
Charge for year 14,687 11,635 26,322
At 31st July 2023 79,268 138,615 217,883
NET BOOK VALUE
At 31st July 2023 44,062 34,906 78,968
At 31st July 2022 58,749 29,417 88,166

The net book value of tangible fixed assets includes £37,363 (2022 - £40,038) in respect of assets held under hire purchase contracts.

VENTURE CONSTRUCTION & DEVELOPMENTS
HOLDINGS (WORCESTER) LIMITED (REGISTERED NUMBER: 09741356)

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

5. FIXED ASSET INVESTMENTS
Unlisted
investments
£
COST
At 1st August 2022 500
Additions 700,000
At 31st July 2023 700,500
NET BOOK VALUE
At 31st July 2023 700,500
At 31st July 2022 500

During the year, the company entered into a private annuity contract with its director. This contract was entered into on arm's length commercial terms, and provides for an annual payment to the company of £27,970, for the life of the director, in return for a capital advance of £700,000.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed by group undertakings 336,541 355,495
Directors' current accounts - 751,272
VAT 26,001 21,593
Prepayments 20,000 -
382,542 1,128,360

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 10,166 10,215
Hire purchase contracts 18,917 12,932
Trade creditors 2,063 37,138
Amounts owed to group undertakings - 12,105
Tax 6,659 7,093
Social security and other taxes 5,882 705
Other creditors 107,031 83,217
Accrued expenses 3,000 3,000
153,718 166,405

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 23,580 33,651
Hire purchase contracts 14,494 21,657
38,074 55,308

VENTURE CONSTRUCTION & DEVELOPMENTS
HOLDINGS (WORCESTER) LIMITED (REGISTERED NUMBER: 09741356)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 33,746 43,866
Hire purchase contracts 33,411 34,589
67,157 78,455

The bank loan is secured by way of a fixed and floating charge on the assets which it relates to. The hire purchase amounts are secured on the assets to which they relate to.

10. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 11,771 19,589
Retirement benefits 450,000 450,000
461,771 469,589

Retirement
Deferred benefit
tax schemes
£ £
Balance at 1st August 2022 19,589 450,000
Provided during year (7,818 ) -
Balance at 31st July 2023 11,771 450,000

The company provided pension benefits in respect of a senior employee. Amounts payable are charged to the profit and loss account in the period as a constructive obligation existed at 31st July 2023. This obligation was satisfied within 9 months of the period end by the company entering into the contract with the employee. The number of directors to whom pension benefits are accruing under this pension agreement is 1 (2022 - 1)

The contributions and potential liabilities of the company in respect of the pension agreement are fixed at least until the date of retirement of the employee which is over five years from the period end date.

Although under section 28 of FRS 102 this pension arrangement is regarded as being a defined benefit scheme, the directors are of the opinion that it does not bear any of the hallmarks of what is usually considered to be a defined benefit scheme and therefore no further disclosures are considered necessary in order to understand the nature and measurement of the liability.

The directors are also of the opinion that the liability as disclosed in the financial statements represents the full and final amount which could be expected, at this stage, to be paid in the future to settle the pension agreement liabilities.

VENTURE CONSTRUCTION & DEVELOPMENTS
HOLDINGS (WORCESTER) LIMITED (REGISTERED NUMBER: 09741356)

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

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
90 Ordinary £1 90 90
10 Ordinary A £1 10 10
100 100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31st July 2023 and the period ended 31st July 2022:

2023 2022
£ £
Mrs S I Tucker
Balance outstanding at start of year 751,272 6,494
Amounts advanced - 763,621
Amounts repaid (751,272 ) (18,843 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 751,272

During the year interest of £10,928 (2022 £11,251) was charged on the above overdrawn loan account.

13. RELATED PARTY DISCLOSURES

During the period management charges of £14,000 (31 July 2022 £36,000), vehicle hire of £27,300 (31 July 2022 £43,200) were paid by Venture Homes (Worcester) Limited, a wholly owned subsidiary of Venture Construction and Developments Holdings (Worcester) Limited. At 31st July 2023 Venture Homes (Worcester) Limited owed Venture Construction and Developments Holdings (Worcester) Limited £336,541 (31st July 2022 £343,899).

During the period charges of £25,500 (31st July 2022 £0) were paid by Tucker Homes Limited, a company under common control. At 31st July 2023 it was owed £47,538 (2022 - £0) by Venture Construction & Developments Holdings (Worcester) Limited.

During the period charges of £20,000 (31st July 2022 £0) were paid by Tucker Holdings Limited, a company under common control. At 31st July 2023 it owed £24,548 (31st July 2022 £53,197) to Venture Construction & Developments Holdings (Worcester ) Limited.


Remuneration of key management personnel

The remuneration of key management personnel is £0 (2022 £450,000)