Venezia Marketing & Distribution Co Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 02870635 (England and Wales)

VENEZIA MARKETING & DISTRIBUTION CO LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G D Bliben

Mrs L M Bliben

Mr R G Bliben

Mr W N Bliben

REGISTERED OFFICE:

Unit 2

Haslemere Industrial Estate

Charlton Mead Lane

Hoddesdon

EN11 0DJ

REGISTERED NUMBER:

02870635 (England and Wales)

ACCOUNTANTS:

P G ASSOCIATES

Accountants

1 Brookmans Avenue

Brookmans Park

Hatfield

Hertfordshire

AL9 7QH

BANKERS:

HSBC

31 Chequer Street

St Albans

Hertfordshire

AL1 3YN

FIXED ASSETS

Tangible assets

4

79,040

70,451

CURRENT ASSETS

Stocks

5

1,010,298

849,903

Debtors

6

487,173

569,674

Cash at bank

343,700

338,212

1,841,171

1,757,789

CREDITORS

Amounts falling due within one year

7

425,676

384,248

NET CURRENT ASSETS

1,415,495

1,373,541

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,494,535

1,443,992

CAPITAL AND RESERVES

Called up share capital

102

Retained earnings

1,494,433

1,443,890

SHAREHOLDERS' FUNDS

1,494,535

1,443,992

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:

Mr G D Bliben - Director

Mr R G Bliben - Director

Mr W N Bliben - Director

1.	STATUTORY INFORMATION

Venezia Marketing & Distribution Co 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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 each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital of the future payments is treated as a liability.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits

The company operates a pension scheme for the benefit of the staff. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. The funds of the scheme are administered by a third party pension company and are separate from the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2023 - 30 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST

At 1 January 2024

93,355

56,949

150,304

Additions

20,493

8,999

29,492

Disposals

-

(23,983

)

(23,983

)

At 31 December 2024

113,848

41,965

155,813

DEPRECIATION

At 1 January 2024

54,767

25,086

79,853

Charge for year

14,771

5,243

20,014

Eliminated on disposal

-

(23,094

)

(23,094

)

At 31 December 2024

69,538

7,235

76,773

NET BOOK VALUE

At 31 December 2024

44,310

34,730

79,040

At 31 December 2023

38,588

31,863

70,451

5.

STOCKS

31.12.24

31.12.23

£

Stocks

1,010,298

849,903

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

6,660

89,161

Other debtors

478,843

Prepayments

1,670

487,173

569,674

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

33,015

122,649

Tax

150,832

136,662

Social security and other taxes

25,451

22,496

VAT

106,520

67,616

Other creditors

101,777

14,382

Directors' current accounts

2,556

14,918

Accrued expenses

5,525

425,676

384,248

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There was a balance of £2,556 owing to the directors at the 31 December 2024 This balance is interest free and is payable on demand. (2023 - £14,918) The balance is included in Creditors due within one year.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr G Bliben, Mr W Bliben and Mr RBliben.