Unique Venues Limited 08803129 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is wedding venue Digita Accounts Production Advanced 6.30.9574.0 true true 08803129 2023-07-01 2024-06-30 08803129 2024-06-30 08803129 core:CurrentFinancialInstruments 2024-06-30 08803129 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 08803129 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 08803129 core:Goodwill 2024-06-30 08803129 core:FurnitureFittings 2024-06-30 08803129 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 08803129 core:OfficeEquipment 2024-06-30 08803129 core:OtherPropertyPlantEquipment 2024-06-30 08803129 bus:SmallEntities 2023-07-01 2024-06-30 08803129 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 08803129 bus:FullAccounts 2023-07-01 2024-06-30 08803129 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 08803129 bus:RegisteredOffice 2023-07-01 2024-06-30 08803129 bus:Director3 2023-07-01 2024-06-30 08803129 bus:Director4 2023-07-01 2024-06-30 08803129 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08803129 core:Goodwill 2023-07-01 2024-06-30 08803129 core:Buildings 2023-07-01 2024-06-30 08803129 core:FurnitureFittings 2023-07-01 2024-06-30 08803129 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 08803129 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 08803129 core:LeaseholdImprovements 2023-07-01 2024-06-30 08803129 core:OfficeEquipment 2023-07-01 2024-06-30 08803129 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 08803129 core:PlantMachinery 2023-07-01 2024-06-30 08803129 core:OtherRelatedParties 2023-07-01 2024-06-30 08803129 countries:England 2023-07-01 2024-06-30 08803129 2023-06-30 08803129 core:Goodwill 2023-06-30 08803129 core:FurnitureFittings 2023-06-30 08803129 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 08803129 core:OfficeEquipment 2023-06-30 08803129 core:OtherPropertyPlantEquipment 2023-06-30 08803129 2022-07-01 2023-06-30 08803129 2023-06-30 08803129 core:CurrentFinancialInstruments 2023-06-30 08803129 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 08803129 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 08803129 core:Goodwill 2023-06-30 08803129 core:FurnitureFittings 2023-06-30 08803129 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 08803129 core:OfficeEquipment 2023-06-30 08803129 core:OtherPropertyPlantEquipment 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 08803129

Unique Venues Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Unique Venues Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Unique Venues Limited

(Registration number: 08803129)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

192,000

243,200

Tangible assets

5

8,760,895

8,689,764

 

8,952,895

8,932,964

Current assets

 

Stocks

1,000

1,000

Debtors

6

103,205

183,644

Cash at bank and in hand

 

734,383

1,072,305

 

838,588

1,256,949

Creditors: Amounts falling due within one year

7

(3,023,537)

(3,447,133)

Net current liabilities

 

(2,184,949)

(2,190,184)

Total assets less current liabilities

 

6,767,946

6,742,780

Creditors: Amounts falling due after more than one year

7

(4,189,389)

(4,459,726)

Provisions for liabilities

(79,616)

(32,649)

Net assets

 

2,498,941

2,250,405

Capital and reserves

 

Called up share capital

125

125

Retained earnings

2,498,816

2,250,280

Shareholders' funds

 

2,498,941

2,250,405

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Unique Venues Limited

(Registration number: 08803129)
Balance Sheet as at 30 June 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 18 March 2025 and signed on its behalf by:
 

.........................................
Mrs A L Steel
Director

.........................................
Mr S A Steel
Director

 

Unique Venues Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Dodford Manor
Dodford
Northamptonshire
NN7 4SR

These financial statements were authorised for issue by the Board on 18 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Unique Venues Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property

10 years straight line

Freehold property

50 years straight line

Plant and machinery

15% reducing balance

Office equipment

3 years straight line

Fixtures and fittings

15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Unique Venues Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Unique Venues Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 31 (2023 - 29).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

640,000

640,000

At 30 June 2024

640,000

640,000

Amortisation

At 1 July 2023

396,800

396,800

Amortisation charge

51,200

51,200

At 30 June 2024

448,000

448,000

Carrying amount

At 30 June 2024

192,000

192,000

At 30 June 2023

243,200

243,200

 

Unique Venues Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Other tangible assets
 £

Cost or valuation

At 1 July 2023

8,673,534

123,162

36,714

339,463

Additions

132,972

1,555

1,533

65,759

At 30 June 2024

8,806,506

124,717

38,247

405,222

Depreciation

At 1 July 2023

298,034

55,373

30,998

98,704

Charge for the year

71,154

10,228

3,452

45,854

At 30 June 2024

369,188

65,601

34,450

144,558

Carrying amount

At 30 June 2024

8,437,318

59,116

3,797

260,664

At 30 June 2023

8,375,500

67,789

5,716

240,759

Total
£

Cost or valuation

At 1 July 2023

9,172,873

Additions

201,819

At 30 June 2024

9,374,692

Depreciation

At 1 July 2023

483,109

Charge for the year

130,688

At 30 June 2024

613,797

Carrying amount

At 30 June 2024

8,760,895

At 30 June 2023

8,689,764

 

Unique Venues Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

72,520

72,311

Prepayments

30,568

27,905

Other debtors

117

83,428

 

103,205

183,644

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

95,597

130,146

Trade creditors

 

31,998

40,037

Taxation and social security

 

303,697

389,862

Accruals and deferred income

 

10,853

10,078

Other creditors

 

2,581,392

2,877,010

 

3,023,537

3,447,133

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

3,576,968

3,689,519

Other non-current financial liabilities

 

612,421

770,207

 

4,189,389

4,459,726

Bank loans and borrowings are secured on the freehold land and buildings of the Company.

 

Unique Venues Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Related party transactions

Summary of transactions with other related parties

Directors loan accounts
 
Included in other creditors is a directors loan account. Interest has been charged where applicable and no repayment date has been set. At the balance sheet date the amount due to the directors was £530,551 (2023 - £589,613).