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Registered number: 13641277
G Venn Builders Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2024
Behegan Lynes
Accountancy & Taxation Advisers
Bank Chambers
Brook Street
Bishops Waltham
Hampshire
SO32 1AX
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Directors Mr G Venn
Mrs L Venn
Company Number 13641277
Registered Office 9 Corfe Close
Alresford
Hants
SO24 9PH
Accountants Behegan Lynes
Accountancy & Taxation Advisers
Bank Chambers
Brook Street
Bishops Waltham
Hampshire
SO32 1AX
Page 1
Page 2
Statement of Financial Position
Registered number: 13641277
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,726 9,271
7,726 9,271
CURRENT ASSETS
Debtors 5 20,282 3,162
Cash at bank and in hand 45,654 33,657
65,936 36,819
Creditors: Amounts Falling Due Within One Year 6 (27,596 ) (20,829 )
NET CURRENT ASSETS (LIABILITIES) 38,340 15,990
TOTAL ASSETS LESS CURRENT LIABILITIES 46,066 25,261
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,101 ) (1,314 )
NET ASSETS 44,965 23,947
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 44,865 23,847
SHAREHOLDERS' FUNDS 44,965 23,947
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr G Venn
Director
Mrs L Venn
Director
4 April 2025
The notes on pages 4 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
G Venn Builders Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13641277 . The registered office is 9 Corfe Close, Alresford, Hants, SO24 9PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 
2.2.1 Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on reducing balance
Motor Vehicles 25% on reducing balance
Computer Equipment 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Financial Instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Debtors
Short term debtors are measured at transaction price, less any impairment.
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.
Creditors
Short term creditors are measured at the transaction price.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
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.
2.8.
Employee benefits
Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 3,500 12,500 - 16,000
Additions - - 882 882
As at 30 September 2024 3,500 12,500 882 16,882
Depreciation
As at 1 October 2023 1,260 5,469 - 6,729
Provided during the period 448 1,758 221 2,427
As at 30 September 2024 1,708 7,227 221 9,156
Net Book Value
As at 30 September 2024 1,792 5,273 661 7,726
As at 1 October 2023 2,240 7,031 - 9,271
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,293 2,634
Prepayments and accrued income 989 528
20,282 3,162
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 536 147
Corporation tax 10,071 4,979
Other taxes & social security 540 92
VAT 2,874 941
Accrued expenses 1,400 1,300
Directors' loan accounts 12,175 13,370
27,596 20,829
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7. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 October 2023 1,314 1,314
Deferred taxation (213 ) (213 )
Balance at 30 September 2024 1,101 1,101
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
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