Mark Venning Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 11

Mark Venning Limited

(Registration number: 07269961)
Statement of Financial Position as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	4,110	5,873
Tangible assets	5	88,602	41,158
		92,712	47,031
Current assets
Stocks		27,700	31,650
Debtors	6	83,709	96,829
Cash at bank and in hand		12,082	42,294
		123,491	170,773
Creditors: Amounts falling due within one year	7	(87,318)	(109,239)
Net current assets		36,173	61,534
Total assets less current liabilities		128,885	108,565
Creditors: Amounts falling due after more than one year	7	(37,704)	(27,353)
Provisions for liabilities		(16,839)	(10,290)
Net assets		74,342	70,922
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		73,342	69,922
Shareholders' funds		74,342	70,922

Mark Venning Limited

(Registration number: 07269961)
Statement of Financial Position as at 31 October 2025 (continued)

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 15 July 2026 and signed on its behalf by:
 

Mr M D Venning Director

Mark Venning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of providing chemicals and equipment to the garage trade.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Mark Venning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% reducing balance
Fittings, fixtures and equipment	15% reducing balance
Motor vehicles	25% reducing balance

Mark Venning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line
Franchise fee	10% straight line

Leases

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Mark Venning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Mark Venning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

4	Intangible assets

	Goodwill  £	Franchise Fee  £	Total £
Cost or valuation
At 1 November 2024	39,618	17,629	57,247
At 31 October 2025	39,618	17,629	57,247
Amortisation
At 1 November 2024	39,618	11,756	51,374
Amortisation charge	-	1,763	1,763
At 31 October 2025	39,618	13,519	53,137
Carrying amount
At 31 October 2025	-	4,110	4,110
At 31 October 2024	-	5,873	5,873

Mark Venning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

5	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 November 2024	2,479	3,000	127,404	132,883
Additions	22,340	-	60,182	82,522
Disposals	-	-	(55,329)	(55,329)
At 31 October 2025	24,819	3,000	132,257	160,076
Depreciation
At 1 November 2024	871	2,469	88,385	91,725
Charge for the year	1,102	80	10,554	11,736
Eliminated on disposal	-	-	(31,987)	(31,987)
At 31 October 2025	1,973	2,549	66,952	71,474
Carrying amount
At 31 October 2025	22,846	451	65,305	88,602
At 31 October 2024	1,608	531	39,019	41,158

6

Debtors

	2025 £	2024 £
Trade debtors	83,589	88,450
Other debtors	120	8,379
	83,709	96,829

Mark Venning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Loans and borrowings	9	19,225	32,373
Trade creditors		29,382	33,478
Taxation and social security		32,792	36,725
Accruals and deferred income		3,310	3,300
Other creditors		2,609	3,363
		87,318	109,239

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Loans and borrowings	9	37,704	27,353

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Mark Venning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	6,435
Finance lease liabilities	37,704	20,918
	37,704	27,353

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	6,456	10,000
Bank overdrafts	1,734	630
Finance lease liabilities	11,035	21,743
	19,225	32,373