REGISTERED NUMBER: 09520752 (England and Wales)

Financial Statements

for the Year Ended 30 April 2025

for

Project Venice Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J Kibble

Ms L M Pendlebury

REGISTERED OFFICE:

Unit 3D

Spring Gardens Mill Business Park

Spring Gardens Road

Colne

Lancashire

BB8 8FP

REGISTERED NUMBER:

09520752 (England and Wales)

ACCOUNTANTS:

SB&P

Chartered Accountants

Oriel House

2-8 Oriel Road

Bootle

Liverpool

Merseyside

L20 7EP

FIXED ASSETS

Tangible assets

4

421,900

23,837

Investment property

5

7,727,306

6,367,814

8,149,206

6,391,651

CURRENT ASSETS

Debtors

6

365,335

44,143

Cash at bank

155,047

76,843

520,382

120,986

CREDITORS

Amounts falling due within one year

7

8,449,938

6,339,665

NET CURRENT LIABILITIES

(7,929,556

)

(6,218,679

)

TOTAL ASSETS LESS CURRENT LIABILITIES

219,650

172,972

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

219,649

172,971

SHAREHOLDERS' FUNDS

219,650

172,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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 22 September 2025 and were signed on its behalf by:

M J Kibble - Director

1.	STATUTORY INFORMATION

Project Venice 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.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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 2 (2024 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

Additions

255,945

83,544

54,914

At 30 April 2025

255,945

83,544

54,914

DEPRECIATION

At 1 May 2024

-

-

-

Charge for year

-

-

10,466

At 30 April 2025

-

-

10,466

NET BOOK VALUE

At 30 April 2025

255,945

83,544

44,448

At 30 April 2024

-

-

-

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 May 2024

7,612

24,000

378

31,990

Additions

13,156

10,000

-

417,559

At 30 April 2025

20,768

34,000

378

449,549

DEPRECIATION

At 1 May 2024

1,903

6,000

250

8,153

Charge for year

3,988

4,917

125

19,496

At 30 April 2025

5,891

10,917

375

27,649

NET BOOK VALUE

At 30 April 2025

14,877

23,083

3

421,900

At 30 April 2024

5,709

18,000

128

23,837

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2024

6,367,814

Additions

1,615,437

Disposals

(255,945

)

At 30 April 2025

7,727,306

NET BOOK VALUE

At 30 April 2025

7,727,306

At 30 April 2024

6,367,814

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Trade debtors

66,455

-

VAT

272,778

35,077

Prepayments

26,102

9,066

365,335

44,143

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Trade creditors

1,982

-

Tax

-

20,773

Other creditors

41,478

-

Directors' current accounts

8,318,104

6,317,667

Accruals and deferred income

86,117

-

Accrued expenses

2,257

1,225

8,449,938

6,339,665

8.	CALLED UP SHARE CAPITAL

Alloted, issued and fully paid

Class of Share

Nominal Value

30.04.2024

30.04.2023

Ordinary

£ 1

1

1