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REGISTERED NUMBER: 13794131 (England and Wales)



































Financial Statements

for the Year Ended 31 December 2024

for

Vennture Enterprises Ltd

Vennture Enterprises Ltd (Registered number: 13794131)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Vennture Enterprises Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Rev Lady J Lisvane
C R Milton
H R Pattison-Appleton
R G Thomas
J S Upperton





SECRETARY:





REGISTERED OFFICE: 26 Vicarage Road
Hereford
Herefordshire
HR1 2QN





REGISTERED NUMBER: 13794131 (England and Wales)





AUDITORS: Thorne Widgery Accountancy Ltd
Chartered Accountants
Statutory Auditors
2 Wyevale Business Park
Kings Acre
Hereford
Herefordshire
HR4 7BS

Vennture Enterprises Ltd (Registered number: 13794131)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,387 -
Investment property 5 937,000 705,530
938,387 705,530

CURRENT ASSETS
Debtors 6 62,177 34,637
Cash at bank 13,079 21,308
75,256 55,945
CREDITORS
Amounts falling due within one year 7 (44,812 ) (52,627 )
NET CURRENT ASSETS 30,444 3,318
TOTAL ASSETS LESS CURRENT LIABILITIES 968,831 708,848

CREDITORS
Amounts falling due after more than one
year

8

(815,100

)

(815,100

)
NET ASSETS/(LIABILITIES) 153,731 (106,252 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 153,730 (106,253 )
153,731 (106,252 )

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 12 March 2025 and were signed on its behalf by:





H R Pattison-Appleton - Director


Vennture Enterprises Ltd (Registered number: 13794131)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Vennture Enterprises Ltd 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 as modified by the revaluation of certain assets.

Going Concern
The directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern.

At this time and for the foreseeable future, the Directors believe that the company is a going concern.

Directors are welcome of the continued support of Herefordshire Vennture Ltd (parent company) and have considered its future budgets and forecasts within the going concern assessment. Vennture Enterprises Ltd will be promoting its services to increase income and ensure careful management of costs to reduce or eliminate future losses.

These accounts have been prepared on a going concern basis, on the understanding that the business has developed well during the past financial year, and that the only shareholder and primary mortgage holder upon the company's assets, Herefordshire Vennture, will continue to support the company in pursuit of its own charitable objectives.

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

Gift aid
Current and future gift aid payments are made under a deed of covenant arrangement to the parent undertaking, Herefordshire Vennture, being charged to the profit and loss account. The estimate of gift aid payable is normally the lesser of the company's taxable profit for the period and the balance of the company's reserves which is available for distribution unless the parent undertaking has agreed to waiver part of its entitlement. There is the intention to pay over gift aid within 9 months of the year end to benefit from tax relief in that year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 10% on cost

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.

Investment property is initial recognised at cost and subsequent remeasured to fair value at each reporting date, with charges to fair value recognised in profit or lose.

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 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.

Vennture Enterprises Ltd (Registered number: 13794131)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax would normally be recognised on timing difference that result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date. TIming differences arise from the inclusion of items of income and expenditure in taxation computation in period different from those in which they are included in the financial statement.

However, deferred tax assets and liabilities are not recognised as the company is able to eliminate any taxable profits by making Gift Aid payments to Herefordshire Vennture through a deed of covenant and therefore not asset or liabilities is likely to arise.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 1,740
At 31 December 2024 1,740
DEPRECIATION
Charge for year 353
At 31 December 2024 353
NET BOOK VALUE
At 31 December 2024 1,387

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 705,530
Additions 4,845
Revaluations 226,625
At 31 December 2024 937,000
NET BOOK VALUE
At 31 December 2024 937,000
At 31 December 2023 705,530

Vennture Enterprises Ltd (Registered number: 13794131)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. INVESTMENT PROPERTY - continued

The directors agreed that the assets meets the requirements to be classified as investment property due to the commencement of the contract with Herefordshire Council and the building's primary purpose being income generation.

At the year end the directors have revalued investment property to it's considered fair value. A formal valuation will be carried out every 5 years.

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2024 226,625
Cost 710,375
937,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 60,956 30,312
Other debtors 1,221 4,325
62,177 34,637

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 6,855 2,682
Amounts owed to group undertakings 8,324 20,343
Taxation and social security 16,786 14,155
Other creditors 12,847 15,447
44,812 52,627

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed to group undertakings 815,100 815,100

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

The Report of the Auditors was unqualified.

Lisa Weaver FCCA (Senior Statutory Auditor)
for and on behalf of Thorne Widgery Accountancy Ltd

10. RELATED PARTY DISCLOSURES

During the year professional services totalling £10,800 (2023: £Nil) have been purchased from OP - Chain Ltd, a company in which director J Upperton is also a director. There were no balances outstanding the the year end (2023: £Nil).