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Registered number: 06779857
VENAGLASS COURTFIELD (RESIDENTIAL) LIMITED
UNAUDITED
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
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VENAGLASS COURTFIELD (RESIDENTIAL) LIMITED
Company Information
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Boodle Hatfield Secretarial Limited
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VENAGLASS COURTFIELD (RESIDENTIAL) LIMITED
Registered number: 06779857
Balance sheet
As at 31 December 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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VENAGLASS COURTFIELD (RESIDENTIAL) LIMITED
Registered number: 06779857
Balance sheet (continued)
As at 31 December 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 statement of comprehensive income 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 24 September 2025.
The notes on pages 3 to 8 form part of these financial statements.
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VENAGLASS COURTFIELD (RESIDENTIAL) LIMITED
Notes to the financial statements
For the Year Ended 31 December 2024
Venaglass Courtfield (Residential) Limited is a private company limited by shares incorporated in the United Kingdom and registered in England and Wales. The registered office is 3rd Floor, 12 Gough Square, London, EC4A 3DW.
The principal activity of the company during the year continued to be that of property investment.
2.Accounting policies
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Basis of preparation of financial statements
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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:
The accounts have been prepared by the directors under the going concern basis. The directors consider this appropriate as Venaglass Limited, a fellow group company, will continue to support and maintain its funding for at least the next twelve months from the date of approval of these accounts.
Turnover represents rental income receivable during the year exclusive of Value Added Tax.
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.
Land is not depreciated. Depreciation on other assets 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:
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.
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VENAGLASS COURTFIELD (RESIDENTIAL) LIMITED
Notes to the financial statements
For the Year Ended 31 December 2024
2.Accounting policies (continued)
Investment property is carried at fair value determined annually by the directors 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. Changes in fair value are recognised in profit or loss.
Investments in subsidiaries and unlisted investments are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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VENAGLASS COURTFIELD (RESIDENTIAL) LIMITED
Notes to the financial statements
For the Year Ended 31 December 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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The average monthly number of employees, including directors, during the year was 3 (2023 - 3).
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VENAGLASS COURTFIELD (RESIDENTIAL) LIMITED
Notes to the financial statements
For the Year Ended 31 December 2024
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Charge for the year on owned assets
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VENAGLASS COURTFIELD (RESIDENTIAL) LIMITED
Notes to the financial statements
For the Year Ended 31 December 2024
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Freehold investment properties
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The 2024 valuations were made by the Directors, on an open market value for existing use basis.
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If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
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VENAGLASS COURTFIELD (RESIDENTIAL) LIMITED
Notes to the financial statements
For the Year Ended 31 December 2024
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Charged to profit or loss
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The deferred taxation balance is made up as follows:
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Accelerated capital allowances
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Tax losses carried forward
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Gains on investment properties
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Profit & loss account
Included in the profit and loss account are non-distributable reserves of £382,597 (2023: £527,980).
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Related party transactions
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The company has adopted the exemption permitted by paragraph 33.1A of FRS 102 and has not disclosed transactions with other group members, which are wholly owned subsidiaries.
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