Company registration number 13043443 (England and Wales)
VENTRESS HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
VENTRESS HOLDINGS LIMITED
COMPANY INFORMATION
Directors
Mr David Chaplin
Mrs Nathalie Chaplin
L M Chaplin
(Appointed 11 November 2024)
E D Chaplin
(Appointed 11 November 2024)
Secretary
Pennsec Limited
Company number
13043443
Registered office
Tunbridge Hall
60 Tunbridge Lane
Bottisham
CAMBRIDGE
Cambridgeshire
United Kingdom
CB25 9DU
Auditor
Argents Audit Services Limited
15 Palace Street
NORWICH
Norfolk
United Kingdom
NR3 1RT
VENTRESS HOLDINGS LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 29
VENTRESS HOLDINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

The directors present the strategic report for the year ended 31 December 2024.

The report refers to the combined performance of all group entities.

Review of the business

The business carried out is hotel accommodation.

The results for Ventress Holdings Limited show sales of £4,726,195 (2023: £4,521,146) and a pre-tax profit of £76,832 (2023: loss of £20,964) for the year. At the year end the group Balance Sheet had net assets of £1,202,142 (2023: £1,153,242).

The results for the year are considered to be a reflection of the hard work put in by all the staff during the period under at times still difficult circumstances. The directors would like to express their gratitude to the teams at the hotel for continuing to provide exceptional service to the companies and guests.

Principal risks and uncertainties

The effects of inflation continued through 2024 and the resulting action by the Bank of England in keeping interest rates relatively high to tackle the cause of the inflation are and will continue to have detrimental effects on the performance of the UK economy and this is expected to impact the Group in an adverse way.

With a drop in UK consumer confidence likely to affect Hospitality businesses more than most, the ongoing performance within the Group could be adversely affected by a drop in occupation rates and the Directors’ consider a key risk going forward. The directors aim to minimise the effect of this risk by maintaining high service standards and customer relationships.

Key performance indicators

For the Hotel room rate and occupancy are considered to be the most important key performance indicators. The 2024 average room rate increased by 2.64% & average room occupancy increased by 0.79%. The Directors' consider these figures satisfactory.

On behalf of the board

Mr David Chaplin
Director
17 September 2025
VENTRESS HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2024.

Principal activities

The principal activity of the group continued to be that of Hotel accommodation.

Results and dividends

The results for the year are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr David Chaplin
Mrs Nathalie Chaplin
L M Chaplin
(Appointed 11 November 2024)
E D Chaplin
(Appointed 11 November 2024)
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr David Chaplin
Director
17 September 2025
VENTRESS HOLDINGS LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

VENTRESS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF VENTRESS HOLDINGS LIMITED
- 4 -
Opinion

We have audited the financial statements of Ventress Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2024 and of the group's profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- T he information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

VENTRESS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF VENTRESS HOLDINGS LIMITED
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- enquiring of management, including obtaining and reviewing supporting documentation concerning the company's policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

- discussing among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud; and

- obtaining an understanding of the legal and regulatory framework that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the companies. The key laws and regulations we considered in this context included the Companies Act 2006, tax legislation, and laws specifically applicable to sector in which the company operates.

VENTRESS HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF VENTRESS HOLDINGS LIMITED
- 6 -

Audit response to risks identified

Our procedures to respond to risks identified included the following:

- reviewing the Financial Statement disclosures and testing to supporting documentation to assess compliance with

relevant laws and regulations discussed above;

- enquiring of management, concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of

material misstatement due to fraud;

- reading minutes of meetings of those charged with governance, reviewing internal controls/systems notes and

reviewing correspondence with HMRC; and

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal

entries and other adjustments; assessing whether the judgements made in making accounting estimates are

indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual

or outside the normal course of business.

- Assessing compliance with relevant laws and regulations (for both the company itself, and its subsidiaries), to

which we found no material shortfalls or had any concerns.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Johnstone (Senior Statutory Auditor)
For and on behalf of Argents Audit Services Limited, Statutory Auditor
Chartered Accountants
15 Palace Street
NORWICH
Norfolk
NR3 1RT
United Kingdom
17 September 2025
VENTRESS HOLDINGS LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
2024
2023
Notes
£
£
Turnover
4
4,726,195
4,521,146
Cost of sales
(776,600)
(751,852)
Gross profit
3,949,595
3,769,294
Distribution costs
(3,904)
(2,594)
Administrative expenses
(3,839,264)
(3,786,879)
Operating profit/(loss)
5
106,427
(20,179)
Interest receivable and similar income
9
22,644
-
0
Interest payable and similar expenses
10
(52,239)
(785)
Profit/(loss) before taxation
76,832
(20,964)
Tax on profit/(loss)
11
(27,932)
(4,995)
Profit/(loss) for the financial year
48,900
(25,959)
Profit/(loss) for the financial year is all attributable to the owner of the parent company.
VENTRESS HOLDINGS LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
2024
2023
£
£
Profit/(loss) for the year
48,900
(25,959)
Other comprehensive income
-
-
Cash flow hedges gain arising in the year
-
0
-
0
Total comprehensive income for the year
48,900
(25,959)
Total comprehensive income for the year is all attributable to the owner of the parent company.
VENTRESS HOLDINGS LIMITED
GROUP BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
7,150
11,054
Tangible assets
13
6,503,763
6,684,677
Investments
14
68,065
68,065
6,578,978
6,763,796
Current assets
Stocks
17
44,308
40,390
Debtors
18
365,743
352,436
Cash at bank and in hand
3,034,295
728,065
3,444,346
1,120,891
Creditors: amounts falling due within one year
19
(5,847,210)
(6,641,337)
Net current liabilities
(2,402,864)
(5,520,446)
Total assets less current liabilities
4,176,114
1,243,350
Creditors: amounts falling due after more than one year
20
(2,938,488)
(37,037)
Provisions for liabilities
Deferred tax liability
23
35,484
53,071
(35,484)
(53,071)
Net assets
1,202,142
1,153,242
Capital and reserves
Called up share capital
26
498,900
498,900
Share premium account
864,301
864,301
Other reserves
(1,369,419)
(1,369,419)
Profit and loss reserves
1,208,360
1,159,460
Total equity
1,202,142
1,153,242

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 17 September 2025 and are signed on its behalf by:
17 September 2025
Mr David Chaplin
Director
Company registration number 13043443 (England and Wales)
VENTRESS HOLDINGS LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
14
1,438,086
1,438,086
Current assets
Debtors
18
223,324
96,024
Cash at bank and in hand
2,884
14,561
226,208
110,585
Creditors: amounts falling due within one year
19
(103,591)
(99,090)
Net current assets
122,617
11,495
Net assets
1,560,703
1,449,581
Capital and reserves
Called up share capital
26
498,900
498,900
Share premium account
864,301
864,301
Profit and loss reserves
197,502
86,380
Total equity
1,560,703
1,449,581

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £111,122 (2023 - £93,406 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 17 September 2025 and are signed on its behalf by:
17 September 2025
Mr David Chaplin
Director
Company registration number 13043443 (England and Wales)
VENTRESS HOLDINGS LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 11 -
Share capital
Share premium account
Other reserve
Profit and loss reserves
Total
£
£
£
£
£
Balance at 1 January 2023
498,900
864,301
(1,369,419)
1,185,419
1,179,201
Year ended 31 December 2023:
Loss and total comprehensive income
-
-
-
(25,959)
(25,959)
Balance at 31 December 2023
498,900
864,301
(1,369,419)
1,159,460
1,153,242
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
-
48,900
48,900
Balance at 31 December 2024
498,900
864,301
(1,369,419)
1,208,360
1,202,142
VENTRESS HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 12 -
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2023
498,900
864,301
(7,026)
1,356,175
Year ended 31 December 2023:
Profit and total comprehensive income for the year
-
-
93,406
93,406
Balance at 31 December 2023
498,900
864,301
86,380
1,449,581
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
111,122
111,122
Balance at 31 December 2024
498,900
864,301
197,502
1,560,703
VENTRESS HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 13 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
1
614,652
417,769
Interest paid
(52,239)
(785)
Income taxes paid
(54,804)
(37,697)
Net cash inflow from operating activities
507,609
379,287
Investing activities
Purchase of intangible assets
-
(7,207)
Purchase of tangible fixed assets
(216,566)
(82,677)
Proceeds from disposal of associates
-
(68,065)
Repayment of loans
(20,265)
-
Interest received
22,644
-
0
Net cash used in investing activities
(214,187)
(157,949)
Financing activities
Repayment of borrowings
(775,043)
(205,175)
Proceeds from new bank loans
3,000,000
-
Repayment of bank loans
(204,081)
(111,111)
Payment of finance leases obligations
(8,068)
-
Net cash generated from/(used in) financing activities
2,012,808
(316,286)
Net increase/(decrease) in cash and cash equivalents
2,306,230
(94,948)
Cash and cash equivalents at beginning of year
728,065
823,013
Cash and cash equivalents at end of year
3,034,295
728,065
VENTRESS HOLDINGS LIMITED
GROUP STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 14 -
1
Cash generated from group operations
2024
2023
£
£
Profit/(loss) for the year after tax
48,900
(25,959)
Adjustments for:
Taxation charged
27,932
4,995
Finance costs
52,239
785
Investment income
(22,644)
-
0
Amortisation and impairment of intangible assets
3,904
2,594
Depreciation and impairment of tangible fixed assets
534,934
505,011
Movements in working capital:
(Increase)/decrease in stocks
(3,918)
4,595
Decrease/(increase) in debtors
3,085
(86,827)
(Decrease)/increase in creditors
(27,447)
13,726
Decrease in deferred income
(2,333)
(1,151)
Cash generated from operations
614,652
417,769
2
Accounting policies
Company information

Ventress Holdings Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Tunbridge Hall, 60 Tunbridge Lane, Bottisham, CAMBRIDGE, Cambridgeshire, United Kingdom, CB25 9DU.

The group consists of Ventress Holdings Ltd and all of its subsidiaries.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

2.2
Business combinations

The results and cash flows of all combining entities have been brought into the financial statements at book value using merger accounting. The results and cash flows have been included from the beginning of the financial year in which the business combination took place, adjusted so as to achieve uniformity of accounting policies. In addition, comparative information has been restated as if the entities which are a party to the combination have been combined throughout the previous accounting period and at the previous balance sheet date.

The other reserve represents the deficit arising on the transfer of the combining entities to the parent company.

VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Accounting policies
(Continued)
- 15 -
2.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Ventress Holdings Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

2.4
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Accounting policies
(Continued)
- 16 -
2.6
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
10% straight line
2.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Nil - 10% straight line
Plant and equipment
10-25% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

2.8
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Accounting policies
(Continued)
- 17 -

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the g roup’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent c ompany financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

2.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Accounting policies
(Continued)
- 18 -
2.10
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2.11
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.12
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Accounting policies
(Continued)
- 19 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Accounting policies
(Continued)
- 20 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

2.13
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

2.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Accounting policies
(Continued)
- 21 -
2.17
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

3
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Hotel Accommodation
4,726,195
4,521,146
2024
2023
£
£
Turnover analysed by geographical market
United Kingdom
4,726,195
4,521,146
2024
2023
£
£
Other revenue
Interest income
22,644
-
5
Operating profit/(loss)
2024
2023
£
£
Operating profit/(loss) for the year is stated after charging:
Fees payable to the group's auditor for the audit of the group's financial statements
3,000
3,000
Depreciation of owned tangible fixed assets
534,934
505,011
Amortisation of intangible assets
3,904
2,594
VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 22 -
6
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
3,000
3,000
Audit of the financial statements of the company's subsidiaries
6,050
6,050
9,050
9,050
7
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
104
107
-
0
-
0

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
1,823,800
1,772,628
10,183
-
0
Social security costs
130,291
122,096
-
-
Pension costs
31,785
31,370
-
0
-
0
1,985,876
1,926,094
10,183
-
0
8
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
10,183
-
9
Interest receivable and similar income
2024
2023
£
£
Interest income
Other interest income
22,644
-
VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 23 -
10
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
47,209
-
Other finance costs:
Interest on finance leases and hire purchase contracts
4,441
-
Other interest
589
785
Total finance costs
52,239
785
11
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
45,519
58,677
Deferred tax
Origination and reversal of timing differences
(17,587)
(53,682)
Total tax charge
27,932
4,995

The actual charge for the year can be reconciled to the expected charge/(credit) for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit/(loss) before taxation
76,832
(20,964)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
19,208
(5,241)
Tax effect of expenses that are not deductible in determining taxable profit
3,802
11,061
Effect of change in corporation tax rate
(83)
(3,691)
Depreciation on assets not qualifying for tax allowances
17,392
19,022
Other non-reversing timing differences
(9,761)
(11,808)
Enhanced capital allowance deduction
-
0
(100)
Structures and buildings allowance
(2,626)
(2,608)
Group relief - losses b/fwd
-
0
(1,640)
Taxation charge
27,932
4,995
VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 24 -
12
Intangible fixed assets
Group
Patents & licences
£
Cost
At 1 January 2024 and 31 December 2024
18,220
Amortisation and impairment
At 1 January 2024
7,166
Amortisation charged for the year
3,904
At 31 December 2024
11,070
Carrying amount
At 31 December 2024
7,150
At 31 December 2023
11,054
The company had no intangible fixed assets at 31 December 2024 or 31 December 2023.

More information on impairment movements in the year is given in note .

13
Tangible fixed assets
Group
Freehold land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
9,147,820
706,315
-
0
9,854,135
Additions
27,540
132,282
194,198
354,020
At 31 December 2024
9,175,360
838,597
194,198
10,208,155
Depreciation and impairment
At 1 January 2024
2,816,577
352,881
-
0
3,169,458
Depreciation charged in the year
419,572
98,505
16,857
534,934
At 31 December 2024
3,236,149
451,386
16,857
3,704,392
Carrying amount
At 31 December 2024
5,939,211
387,211
177,341
6,503,763
At 31 December 2023
6,331,243
353,434
-
0
6,684,677
The company had no tangible fixed assets at 31 December 2024 or 31 December 2023.
VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 25 -
14
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
15
-
0
-
0
1,370,021
1,370,021
Investments in associates
16
68,065
68,065
68,065
68,065
68,065
68,065
1,438,086
1,438,086
Movements in fixed asset investments
Group
Shares in associates
£
Cost or valuation
At 1 January 2024 and 31 December 2024
68,065
Carrying amount
At 31 December 2024
68,065
At 31 December 2023
68,065
Movements in fixed asset investments
Company
Shares in subsidiaries and associates
£
Cost or valuation
At 1 January 2024 and 31 December 2024
1,438,086
Carrying amount
At 31 December 2024
1,438,086
At 31 December 2023
1,438,086
15
Subsidiaries

Details of the company's subsidiaries at 31 December 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
The Maids Head Hotel Limited
Tombland, Norwich, NR3 1LB
Ordinary
100.00
Ridgeon Estate (Norwich) Limited
Tunbridge Hall, 60 Tunbridge Lane, Bottisham, Cambridge, CB25 9DU
Ordinary
100.00
16
Associates

Details of associates at 31 December 2024 are as follows:

VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
16
Associates
(Continued)
- 26 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Sawston Farms (Cambs) Limited
Abington Park Farm, Great Abington, Cambridge, CB21 6AX
Ordinary
23
17
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Raw materials and consumables
44,308
40,390
-
-
18
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
138,248
109,819
-
0
-
0
Corporation tax recoverable
-
0
3,873
-
0
-
0
Amounts owed by group undertakings
-
-
107,000
-
Other debtors
125,960
137,760
116,324
96,024
Prepayments and accrued income
101,395
100,984
-
0
-
0
365,603
352,436
223,324
96,024
Amounts falling due after more than one year:
Prepayments and accrued income
140
-
0
-
0
-
0
Total debtors
365,743
352,436
223,324
96,024
VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 27 -
19
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
21
120,580
111,111
-
0
-
0
Obligations under finance leases
22
14,385
-
0
-
0
-
0
Other borrowings
21
5,063,680
5,838,723
95,000
25,000
Trade creditors
202,531
168,523
120
-
0
Corporation tax payable
45,519
58,677
263
-
0
Other taxation and social security
222,452
208,818
2,183
-
Deferred income
24
-
0
2,333
-
0
-
0
Other creditors
33,617
107,711
-
0
68,065
Accruals and deferred income
144,446
145,441
6,025
6,025
5,847,210
6,641,337
103,591
99,090
20
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
21
2,823,487
37,037
-
0
-
0
Obligations under finance leases
22
115,001
-
0
-
0
-
0
2,938,488
37,037
-
-
21
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
2,944,067
148,148
-
0
-
0
Loans from related parties
5,063,680
5,838,723
95,000
25,000
8,007,747
5,986,871
95,000
25,000
Payable within one year
5,184,260
5,949,834
95,000
25,000
Payable after one year
2,823,487
37,037
-
0
-
0

The bank loans are secured by fixed charges over the group company's assets.

VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 28 -
22
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
14,385
-
0
-
0
-
0
In two to five years
115,001
-
0
-
0
-
0
129,386
-
-
-

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 4 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

During the year the group incurred finance charges of £4,441 (2023: £0) on hire purchase agreements.

23
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
35,484
53,071
The company has no deferred tax assets or liabilities.
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 January 2024
53,071
-
Credit to profit or loss
(17,587)
-
Liability at 31 December 2024
35,484
-
24
Deferred income
Group
Company
2024
2023
2024
2023
£
£
£
£
Other deferred income
-
2,333
-
-
VENTRESS HOLDINGS LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 29 -
25
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
31,785
31,370

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

26
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 10p each
4,989,000
4,989,000
498,900
498,900
27
Directors' transactions

A director operates a loan account with the company. During the year the director was advanced amounts of £118,265, of which £98,000 was repaid before the year-end. Interest is charged at the prescribed HMRC rate and the loan is repayable on demand.

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2023-12-31 13043443 core:PatentsTrademarksLicencesConcessionsSimilar bus:Consolidated 2023-12-31 13043443 core:PatentsTrademarksLicencesConcessionsSimilar bus:Consolidated 2024-01-01 2024-12-31 13043443 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2023-12-31 13043443 core:PlantMachinery bus:Consolidated 2023-12-31 13043443 core:MotorVehicles bus:Consolidated 2023-12-31 13043443 bus:Consolidated 2023-12-31 13043443 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-01-01 2024-12-31 13043443 core:PlantMachinery bus:Consolidated 2024-01-01 2024-12-31 13043443 core:MotorVehicles bus:Consolidated 2024-01-01 2024-12-31 13043443 core:Subsidiary1 2024-01-01 2024-12-31 13043443 core:Subsidiary2 2024-01-01 2024-12-31 13043443 core:Subsidiary1 1 2024-01-01 2024-12-31 13043443 core:Subsidiary2 2 2024-01-01 2024-12-31 13043443 core:Associate1 2024-01-01 2024-12-31 13043443 core:Associate1 1 2024-01-01 2024-12-31 13043443 core:CurrentFinancialInstruments 2024-12-31 13043443 core:CurrentFinancialInstruments 2023-12-31 13043443 core:CurrentFinancialInstruments bus:Consolidated 2024-12-31 13043443 core:CurrentFinancialInstruments bus:Consolidated 2023-12-31 13043443 core:Non-currentFinancialInstruments bus:Consolidated 2024-12-31 13043443 core:Non-currentFinancialInstruments bus:Consolidated 2023-12-31 13043443 core:Non-currentFinancialInstruments 2024-12-31 13043443 core:Non-currentFinancialInstruments 2023-12-31 13043443 core:WithinOneYear bus:Consolidated 2024-12-31 13043443 core:WithinOneYear bus:Consolidated 2023-12-31 13043443 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 13043443 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13043443 core:Non-currentFinancialInstruments core:AfterOneYear bus:Consolidated 2024-12-31 13043443 core:Non-currentFinancialInstruments core:AfterOneYear bus:Consolidated 2023-12-31 13043443 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 13043443 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 13043443 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2024-12-31 13043443 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2023-12-31 13043443 core:WithinOneYear 2024-12-31 13043443 core:WithinOneYear 2023-12-31 13043443 core:BetweenTwoFiveYears bus:Consolidated 2024-12-31 13043443 core:BetweenTwoFiveYears bus:Consolidated 2023-12-31 13043443 core:BetweenTwoFiveYears 2024-12-31 13043443 core:BetweenTwoFiveYears 2023-12-31 13043443 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13043443 bus:FRS102 2024-01-01 2024-12-31 13043443 bus:Audited 2024-01-01 2024-12-31 13043443 bus:ConsolidatedGroupCompanyAccounts 2024-01-01 2024-12-31 13043443 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP