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Registered Number: 08927002
England and Wales

 

 

 

VENFAMPROP LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,519,100    1,519,100 
1,519,100    1,519,100 
Current assets      
Cash at bank and in hand 4,683    7,545 
Creditors: amount falling due within one year 4 (232,639)   (1,014,896)
Net current assets (227,956)   (1,007,351)
 
Total assets less current liabilities 1,291,144    511,749 
Creditors: amount falling due after more than one year 5 (329,094)   (347,788)
Net assets 962,050    163,961 
 

Capital and reserves
     
Called up share capital 4    4 
Profit and loss account 962,046    163,957 
Shareholders' funds 962,050    163,961 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 11 June 2025 and were signed on its behalf by:


-------------------------------
E E Venables
Director
1
Statutory Information
Venfamprop Limited is a private company, limited by shares,limited by shares, registered in England and Wales, registration number 08927002, registration address Roodscroft , Hatt, Saltash, Pl12 6PJ.

The presentation currency is £ sterling
1.

Accounting policies

Accounting Policies
Statement of compliance
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. 
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention. 
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 20% on cost
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.
Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Debtors
Short term debtors are measured at transaction price, less any impairment.
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.
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.
Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.
Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).
Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.
Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 October 2023 1,519,100    6,000    1,525,100 
Additions    
Disposals    
At 30 September 2024 1,519,100    6,000    1,525,100 
Depreciation
At 01 October 2023   6,000    6,000 
Charge for year    
On disposals    
At 30 September 2024   6,000    6,000 
Net book values
Closing balance as at 30 September 2024 1,519,100      1,519,100 
Opening balance as at 01 October 2023 1,519,100      1,519,100 


4.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 4,488    7,742 
Bank Loans & Overdrafts 20,088    21,480 
Taxation and Social Security 4,270    9,186 
Other Creditors 203,793    976,488 
232,639    1,014,896 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 329,094    347,788 
329,094    347,788 

6.

Exceptional Items

During the year, the company wrote back loans with a net balance of £779,886 due to related parties under common control. The directors consider this to be an exceptional item due to its size and non-recurring nature.

2