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REGISTERED NUMBER: 08430829 (England and Wales)















VERSATILE VENUES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






VERSATILE VENUES LIMITED (REGISTERED NUMBER: 08430829)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


VERSATILE VENUES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D J Clarke
C S Ellis
T S Cook





REGISTERED OFFICE: Wireless House Wireless Hill
South Luffenham
Oakham
Rutland
LE15 8NF





REGISTERED NUMBER: 08430829 (England and Wales)





AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
3 Castlegate
Grantham
Lincs
NG31 6SF

VERSATILE VENUES LIMITED (REGISTERED NUMBER: 08430829)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,492,035 1,366,063

CURRENT ASSETS
Debtors 5 1,043,773 823,593
Cash at bank 80,525 88,477
1,124,298 912,070
CREDITORS
Amounts falling due within one year 6 1,877,982 1,817,972
NET CURRENT LIABILITIES (753,684 ) (905,902 )
TOTAL ASSETS LESS CURRENT LIABILITIES 738,351 460,161

CREDITORS
Amounts falling due after more than one year 7 (231,014 ) (64,268 )

PROVISIONS FOR LIABILITIES (242,675 ) (230,030 )
NET ASSETS 264,662 165,863

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 264,562 165,763
SHAREHOLDERS' FUNDS 264,662 165,863

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 23 December 2024 and were signed on its behalf by:





C S Ellis - Director


VERSATILE VENUES LIMITED (REGISTERED NUMBER: 08430829)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Versatile Venues 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

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:

Revenue from haulage and freight transport services is recognised in the period in which the services are provided.

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.

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

Long term leasehold property10% per annum
Plant, machinery and media structures20 - 25% per annum
Motor vehicles17 - 50% per annum
Computer equipment25% per annum

The assets' residual values, useful economic 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive income.

VERSATILE VENUES LIMITED (REGISTERED NUMBER: 08430829)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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 22 (2023 - 16 ) .

VERSATILE VENUES LIMITED (REGISTERED NUMBER: 08430829)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 60,078 3,070,254 3,130,332
Additions - 734,947 734,947
Disposals - (263,824 ) (263,824 )
At 30 June 2024 60,078 3,541,377 3,601,455
DEPRECIATION
At 1 July 2023 11,575 1,752,694 1,764,269
Charge for year 6,009 568,073 574,082
Eliminated on disposal - (228,931 ) (228,931 )
At 30 June 2024 17,584 2,091,836 2,109,420
NET BOOK VALUE
At 30 June 2024 42,494 1,449,541 1,492,035
At 30 June 2023 48,503 1,317,560 1,366,063

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 626,890 481,615
Amounts owed by group undertakings 3,221 36,526
Other debtors 413,662 305,452
1,043,773 823,593

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 76,840 28,748
Trade creditors 116,778 110,665
Amounts owed to group undertakings 1,394,501 1,308,466
Taxation and social security 105,323 77,963
Other creditors 184,540 292,130
1,877,982 1,817,972

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 231,014 64,268

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
85 Ordinary C shares £1 85 85
10 Ordinary B shares £1 10 10
5 Ordinary C shares £1 5 5
100 100

VERSATILE VENUES LIMITED (REGISTERED NUMBER: 08430829)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alistair W. Main (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

10. CONTINGENT LIABILITIES

The Company is a party to a cross guarantee with C S Ellis (Holdings) Limited, C S Ellis (Group) Limited, and Pacwolf Fulfilment Limited, relating to certain debt facilities.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is T C Ellis, C S Ellis and H E Cook.

The ultimate and immediate parent company is C. S. Ellis (Holdings) Limited, a Company incorporated and registered in England and Wales. The largest and smallest group in which the consolidated results of the Company are available is headed by C. S. Ellis (Holdings) Limited. Copies of its consolidated financial statements are available from Companies House.