REGISTERED NUMBER: 00939718 (England and Wales)

Venetian Marine (Nantwich) Limited

Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Steele

N D Steele

C R Steele

R J P Steele

SECRETARY:

N D Steele

REGISTERED OFFICE:

Whilton Locks

Whilton

Daventry

Northamptonshire

NN11 2NH

REGISTERED NUMBER:

00939718 (England and Wales)

AUDITORS:

Kilby Fox

Statutory Auditor

4 Pavilion Court

600 Pavilion Drive

Northampton Business Park

Northampton

Northamptonshire

NN4 7SL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,397,529

2,396,004

2,397,529

2,396,004

CURRENT ASSETS

Stocks

59,000

22,000

Debtors

6

36,931

20,869

Cash at bank and in hand

63,232

33,942

159,163

76,811

CREDITORS

Amounts falling due within one year

7

179,494

68,477

NET CURRENT (LIABILITIES)/ASSETS

(20,331

)

8,334

TOTAL ASSETS LESS CURRENT LIABILITIES

2,377,198

2,404,338

CREDITORS

Amounts falling due after more than one year

8

(283,246

)

(439,715

)

PROVISIONS FOR LIABILITIES

(251,160

)

(251,100

)

NET ASSETS

1,842,792

1,713,523

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Revaluation reserve

11

750,000

750,000

Retained earnings

1,082,792

953,523

SHAREHOLDERS' FUNDS

1,842,792

1,713,523

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 26 August 2025 and were signed on its behalf by:

N D Steele - Director

R J Steele - Director

1.	STATUTORY INFORMATION

Venetian Marine (Nantwich) Limited 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.

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 net invoiced sales of goods and services, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Property improvements

-

not provided

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on cost

Depreciation has not been provided in respect of the company's freehold property and property improvements. The directors consider that the property and improvements are maintained to a high standard and any element of depreciation would be immaterial. No provision has therefore been included in the financial statements.

Stocks

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

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 April 2024

and 31 March 2025

2,170

AMORTISATION

At 1 April 2024

and 31 March 2025

2,170

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Freehold

Property

Plant and

property

improvements

machinery

£

£

£

COST OR VALUATION

At 1 April 2024

1,148,728

1,222,018

215,641

Additions

-

-

4,982

At 31 March 2025

1,148,728

1,222,018

220,623

DEPRECIATION

At 1 April 2024

-

-

201,421

Charge for year

-

-

2,278

At 31 March 2025

-

-

203,699

NET BOOK VALUE

At 31 March 2025

1,148,728

1,222,018

16,924

At 31 March 2024

1,148,728

1,222,018

14,220

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 April 2024

90,686

6,500

10,339

2,693,912

Additions

-

-

-

4,982

At 31 March 2025

90,686

6,500

10,339

2,698,894

DEPRECIATION

At 1 April 2024

79,986

6,162

10,339

297,908

Charge for year

1,152

27

-

3,457

At 31 March 2025

81,138

6,189

10,339

301,365

NET BOOK VALUE

At 31 March 2025

9,548

311

-

2,397,529

At 31 March 2024

10,700

338

-

2,396,004

Cost or valuation at 31 March 2025 is represented by:

Freehold

Property

Plant and

property

improvements

machinery

£

£

£

Valuation in 2020

1,000,000

-

-

Cost

148,728

1,222,018

220,623

1,148,728

1,222,018

220,623

Fixtures

and

Motor

Office

fittings

vehicles

equipment

Totals

£

£

£

£

Valuation in 2020

-

-

-

1,000,000

Cost

90,686

6,500

10,339

1,698,894

90,686

6,500

10,339

2,698,894

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

466

1

Prepayments and accrued income

36,465

20,868

36,931

20,869

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Payments on account

21,820

11,238

Trade creditors

55,046

38,931

Corporation tax

40,188

45

Social security and other taxes

4,565

3,500

VAT

22,543

1,740

Other creditors

982

1,023

Accruals and deferred income

34,350

12,000

179,494

68,477

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

283,246

439,715

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

7,985

2,957

Between one and five years

7,985

-

In more than five years

3,993

-

19,963

2,957

10.	SECURED DEBTS

The assets of Venetian Marine (Nantwich) Limited are given as security by Whilton Marina Limited for that Company's bank loan.

11.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

750,000

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Martin Crooke FCCA (Senior Statutory Auditor)

for and on behalf of Kilby Fox

13.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

14.	ULTIMATE CONTROLLING PARTY