REGISTERED NUMBER: 13794131 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

Vennture Enterprises Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Rev Lady J Lisvane

A M Butterfill

J M Roberts

M J Brown

SECRETARY:

REGISTERED OFFICE:

26 Vicarage Road

Hereford

Herefordshire

HR1 2QN

REGISTERED NUMBER:

13794131 (England and Wales)

AUDITORS:

DJH Audit Limited

Statutory Auditors

2 Wyevale Business Park

Kings Acre

Hereford

Herefordshire

HR4 7BS

FIXED ASSETS

Tangible assets

4

51,882

49,034

Investment property

5

1,110,000

649,316

1,161,882

698,350

CURRENT ASSETS

Debtors

6

36,308

62,177

Cash at bank

76,097

13,079

112,405

75,256

CREDITORS

Amounts falling due within one year

7

(71,138

)

(44,812

)

NET CURRENT ASSETS

41,267

30,444

TOTAL ASSETS LESS CURRENT LIABILITIES

1,203,149

728,794

CREDITORS

Amounts falling due after more than one year

8

(1,452,100

)

(815,100

)

NET LIABILITIES

(248,951

)

(86,306

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(248,952

)

(86,307

)

(248,951

)

(86,306

)

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 27 October 2026 and were signed on its behalf by:

J M Roberts - Director

1.	STATUTORY INFORMATION

Vennture Enterprises Ltd 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.

Going Concern

The directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern.

At this time and for the foreseeable future, the Directors believe that the company is a going concern. Net liabilities per the balance sheet have arisen as a result of a downward valuation of investment property to better reflect market conditions. The Directors have noted that the company has made good operating profits for the last year and expect it to continue do so for the next few years which will help restore the solvency of the company. The Directors also welcome of the continued support of Herefordshire Vennture (parent company) and have considered its future budgets and forecasts within the going concern assessment. Vennture Enterprises Ltd will be promoting its services to increase income and ensure careful management of costs to reduce or eliminate future losses.

Service delivery has been restructured, and grant funding has already been secured to ensure a greater return on rental, through increasing en-suite facilities. The parent company expects to see these losses recovered within three years on current income projections.

These accounts have been prepared on a going concern basis, taking into account that the business has developed well during the past financial year, and that the only shareholder and primary mortgage holder on the company's assets, Herefordshire Vennture, will continue to support the company in pursuit of its own charitable objectives.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Gift aid

Current and future gift aid payments are made under a deed of covenant arrangement to the parent undertaking, Herefordshire Vennture, being charged to the profit and loss account. The estimate of gift aid payable is normally the lesser of the company's taxable profit for the period and the balance of the company's reserves which is available for distribution unless the parent undertaking has agreed to waiver part of its entitlement. There is the intention to pay over gift aid within 9 months of the year end to benefit from tax relief in that year.

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 etc

-

33% on cost and 10% 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.

Investment property is initial recognised at cost and subsequent remeasured to fair value at each reporting date, with charges to fair value recognised in profit or lose.

A formal valuation will be carried out every 5 years, unless there is significant changes to the market in the mean time.

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 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 would normally be recognised on timing difference that result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date. TIming differences arise from the inclusion of items of income and expenditure in taxation computation in period different from those in which they are included in the financial statement.

However, deferred tax assets and liabilities are not recognised as the company is able to eliminate any taxable profits by making Gift Aid payments to Herefordshire Vennture through a deed of covenant and therefore not asset or liabilities is likely to arise.

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 13 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

62,799

Additions

9,916

At 31 December 2025

72,715

DEPRECIATION

At 1 January 2025

13,765

Charge for year

7,068

At 31 December 2025

20,833

NET BOOK VALUE

At 31 December 2025

51,882

At 31 December 2024

49,034

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

649,316

Additions

622,008

Impairments

(161,324

)

At 31 December 2025

1,110,000

NET BOOK VALUE

At 31 December 2025

1,110,000

At 31 December 2024

649,316

The Directors agreed that the assets meet the requirements to be classified as investment property due to the start of the contract with Herefordshire Council and the building's primary purpose being income generation.

The Directors recognise that whilst the properties generate an income, the supply of emergency accommodation to the Council, is not in and of itself a 'business' which is how the previous calculation was arrived at. At the year end the directors have revalued the investment property to it's considered fair value, following the instruction of Sunderlands, based on the building value alone. A formal valuation will be carried out every 5 years.

Fair value at 31 December 2025 is represented by:

£

Valuation in 2025

1,110,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

as restated

£

£

Trade debtors

33,039

60,956

Other debtors

3,269

1,221

36,308

62,177

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

as restated

£

£

Trade creditors

5,351

6,855

Amounts owed to group undertakings

9,058

8,324

Taxation and social security

37,957

16,786

Other creditors

18,772

12,847

71,138

44,812

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.25

31.12.24

as restated

£

£

Amounts owed to group undertakings

1,452,100

815,100

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

The Report of the Auditors was unqualified.

Lisa Weaver FCCA (Senior Statutory Auditor)

for and on behalf of DJH Audit Limited

10.	RELATED PARTY DISCLOSURES

During the year professional services totalling £27,000 (2024: £10,800) have been purchased from OP - Chain Ltd, a company in which director J Upperton is also a director. There were no balances outstanding at the year end (2024: £Nil).