Ventura (Scotland) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC043887 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

VENTURA (SCOTLAND) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Keith Charles Bell

Barbara Ann Bell

SECRETARY:

Keith Charles Bell

REGISTERED OFFICE:

24 Beresford Terrace

Ayr

KA7 2EG

REGISTERED NUMBER:

SC043887 (Scotland)

ACCOUNTANTS:

Stewart Gilmour & Co.

Chartered Accountants

24 Beresford Terrace

Ayr

KA7 2EG

BANKERS:

Bank of Scotland

7-13 Port Street

Stirling

FK8 2EJ

FIXED ASSETS

Tangible assets

4

2,069

2,364

Investments

5

1,012

758

Investment property

6

270,000

273,081

273,122

CURRENT ASSETS

Debtors

7

595

222

Cash at bank and in hand

8,161

8,135

8,756

8,357

CREDITORS

Amounts falling due within one year

8

13,474

15,635

NET CURRENT LIABILITIES

(4,718

)

(7,278

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

268,363

265,844

CREDITORS

Amounts falling due after more than one
year

9

(90,201

)

(90,201

)

PROVISIONS FOR LIABILITIES

(393

)

(449

)

NET ASSETS

177,769

175,194

CAPITAL AND RESERVES

Called up share capital

11

10,100

Capital reserve

85,000

Retained earnings

82,669

80,094

SHAREHOLDERS' FUNDS

177,769

175,194

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income Statement has not been delivered.

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

Keith Charles Bell - Director

1.	STATUTORY INFORMATION

Ventura (Scotland) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the total amounts receivable from the letting of company properties.

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

-

12.5% on reducing balance

Investment properties

In accordance with FRS 102, investment properties are revalued annually at fair value. Changes to fair value are reflected in the profit and loss account. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principles set out in FRS 102. The director considers that, because these properties are held to earn rental income and for their investment potential rather than for their consumption, to depreciate them would not give a true and fair view, and that it is necessary to apply FRS 102 in order to give a true and fair view.

If this departure from the Act had not been made, the reported net profit for the financial year would have been reduced by additional depreciation of £4,317 (2023 - £4,317).

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Investments

Investments held as fixed assets are stated at cost less any provision for permanent diminution in value. These funds are retained to assist in the future development of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2023

and 31 October 2024

10,071

DEPRECIATION

At 1 November 2023

7,707

Charge for year

295

At 31 October 2024

8,002

NET BOOK VALUE

At 31 October 2024

2,069

At 31 October 2023

2,364

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 November 2023

and 31 October 2024

10,412

PROVISIONS

At 1 November 2023

9,654

Provision for year

1

Provision written back

(255

)

At 31 October 2024

9,400

NET BOOK VALUE

At 31 October 2024

1,012

At 31 October 2023

758

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2023

and 31 October 2024

270,000

NET BOOK VALUE

At 31 October 2024

270,000

At 31 October 2023

270,000

Fair value at 31 October 2024 is represented by:

£

Valuation in 2024

270,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

Cost

172,690

Aggregate depreciation

(116,856

)

(112,539

)

The two investment properties were valued on a fair values basis on 31 October 2024 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other debtors

595

222

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Taxation and social security

658

10

Other creditors

12,816

15,625

13,474

15,635

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Other creditors

90,201

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans due after more

than 5 years non-instalments

90,201

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Other loans

90,201

A security has been granted over a company investment property at 19 Smiddy View, Cambusbarron, Stirling, in respect of the above loan.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

10,000

Ordinary

£1

10,000

5% Non-cumulative preferred

ordinary

1p

100

10,100

The holder of the preferred ordinary shares has waived his right to the preferential dividend.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Keith Charles Bell.