Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01false01truetruefalse 07518585 2023-04-01 2024-03-31 07518585 2022-04-01 2023-03-31 07518585 2024-03-31 07518585 2023-03-31 07518585 c:Director2 2023-04-01 2024-03-31 07518585 d:Buildings 2023-04-01 2024-03-31 07518585 d:Buildings 2024-03-31 07518585 d:Buildings 2023-03-31 07518585 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07518585 d:FurnitureFittings 2023-04-01 2024-03-31 07518585 d:FurnitureFittings 2024-03-31 07518585 d:FurnitureFittings 2023-03-31 07518585 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07518585 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 07518585 d:OtherPropertyPlantEquipment 2024-03-31 07518585 d:OtherPropertyPlantEquipment 2023-03-31 07518585 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07518585 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07518585 d:FreeholdInvestmentProperty 2024-03-31 07518585 d:FreeholdInvestmentProperty 2023-03-31 07518585 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 07518585 d:FreeholdInvestmentProperty 3 2023-04-01 2024-03-31 07518585 d:CurrentFinancialInstruments 2024-03-31 07518585 d:CurrentFinancialInstruments 2023-03-31 07518585 d:Non-currentFinancialInstruments 2024-03-31 07518585 d:Non-currentFinancialInstruments 2023-03-31 07518585 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07518585 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07518585 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07518585 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07518585 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 07518585 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07518585 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 07518585 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07518585 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 07518585 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 07518585 d:ShareCapital 2024-03-31 07518585 d:ShareCapital 2023-03-31 07518585 d:RevaluationReserve 2024-03-31 07518585 d:RevaluationReserve 2023-03-31 07518585 d:OtherMiscellaneousReserve 2024-03-31 07518585 d:OtherMiscellaneousReserve 2023-03-31 07518585 d:RetainedEarningsAccumulatedLosses 2024-03-31 07518585 d:RetainedEarningsAccumulatedLosses 2023-03-31 07518585 c:OrdinaryShareClass1 2023-04-01 2024-03-31 07518585 c:OrdinaryShareClass1 2024-03-31 07518585 c:OrdinaryShareClass1 2023-03-31 07518585 c:FRS102 2023-04-01 2024-03-31 07518585 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07518585 c:FullAccounts 2023-04-01 2024-03-31 07518585 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07518585 2 2023-04-01 2024-03-31 07518585 5 2023-04-01 2024-03-31 07518585 6 2023-04-01 2024-03-31 07518585 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07518585









VOLPONE VENTURES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
VOLPONE VENTURES LIMITED
REGISTERED NUMBER: 07518585

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
126,669
14,221

Investments
 5 
457,596
476,680

Investment property
 6 
1,200,000
1,371,856

  
1,784,265
1,862,757

Current assets
  

Debtors: amounts falling due within one year
 7 
1,105,984
696,064

Cash at bank and in hand
 8 
184,865
556,364

  
1,290,849
1,252,428

Creditors: amounts falling due within one year
 9 
(61,652)
(158,668)

Net current assets
  
 
 
1,229,197
 
 
1,093,760

Total assets less current liabilities
  
3,013,462
2,956,517

Creditors: amounts falling due after more than one year
 10 
(431,036)
(386,577)

  

Net assets
  
2,582,426
2,569,940


Capital and reserves
  

Called up share capital 
 12 
111
111

Revaluation reserve
  
(11,828)
-

Other reserves
  
(11,611)
(11,611)

Profit and loss account
  
2,605,754
2,581,440

  
2,582,426
2,569,940


Page 1

 
VOLPONE VENTURES LIMITED
REGISTERED NUMBER: 07518585
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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 on 28 March 2025.




JP Jobburn
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
VOLPONE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Volpone Ventures Limited, 07518585, is a private limited company, limited by shares, incorporated in England. The principal activity of the company is that of property management. The address of its registered office is Belmont House, Shrewsbury Business Park, Shrewsbury, SY2 6LG. 

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.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
VOLPONE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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 assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
No depreciation charges
Fixtures and fittings
-
25% reducing balance
Other fixed assets
-

The assets' residual values, useful 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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

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 balance sheet 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.

Page 4

 
VOLPONE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.10

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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
VOLPONE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 1).


4.


Tangible fixed assets





Freehold property
Fixtures and fittings
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 April 2023
11,000
7,890
-
18,890


Additions
-
1,038
12,500
13,538


Transfers between classes
-
-
99,974
99,974



At 31 March 2024

11,000
8,928
112,474
132,402



Depreciation


At 1 April 2023
-
4,669
-
4,669


Charge for the year on owned assets
-
1,064
-
1,064



At 31 March 2024

-
5,733
-
5,733



Net book value



At 31 March 2024
11,000
3,195
112,474
126,669



At 31 March 2023
11,000
3,221
-
14,221

Page 6

 
VOLPONE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 April 2023
-
476,680
476,680


Additions
45,768
-
45,768


Revaluations
(11,828)
-
(11,828)


Amounts written off
-
(8,524)
(8,524)


Transfer between classes
-
(44,500)
(44,500)



At 31 March 2024
33,940
423,656
457,596





6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,371,856


Surplus on revaluation
(71,882)


Transfers between classes
(99,974)



At 31 March 2024
1,200,000

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







Page 7

 
VOLPONE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Trade debtors
1,917
1,916

Amounts owed by joint ventures and associated undertakings
603,537
544,712

Other debtors
498,813
148,369

Prepayments and accrued income
1,717
1,067

1,105,984
696,064



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
184,865
556,364

184,865
556,364



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
8,519
26,720

Trade creditors
-
360

Other taxation and social security
-
818

Other creditors
50,258
128,200

Accruals and deferred income
2,875
2,570

61,652
158,668



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
431,036
386,577

431,036
386,577


Page 8

 
VOLPONE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
8,519
26,720


8,519
26,720

Amounts falling due 1-2 years

Bank loans
8,519
26,720


8,519
26,720

Amounts falling due 2-5 years

Bank loans
898
66,056


898
66,056

Amounts falling due after more than 5 years

Bank loans
421,619
293,801

421,619
293,801

439,555
413,297



12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



111 (2023 - 111) Ordinary shares of £1.00 each
111
111


 
Page 9