Venice Regal Sheffield Limited Company accounts

COMPANY REGISTRATION NUMBER: 06291350

Venice Regal Sheffield Limited

Financial Statements

31 March 2025

Venice Regal Sheffield Limited

Financial Statements

Year ended 31 March 2025

Contents	Pages

Officers and professional advisers	1

Strategic report	2 to 3

Directors' report	4 to 6

Independent auditor's report to the members	7 to 10

Statement of income and retained earnings	11

Statement of financial position	12

Notes to the financial statements	13 to 20

Venice Regal Sheffield Limited

Officers and Professional Advisers

The board of directors	Ms S Howes
	Mr N Burgin (Resigned 31 October 2024)
	G Dyke
	G J Davies

Registered office	C/O Director of Finance
	Mosborough Hall Hotel
	High Street
	Mosborough
	Sheffield
	S20 5EA

Auditor	Hebblethwaites
	Chartered Accountants & Statutory Auditors
	2 Westbrook Court
	Sharrow Vale Road
	Sheffield
	S11 8YZ

Venice Regal Sheffield Limited

Strategic Report

Year ended 31 March 2025

The legacy effects of recent global and macro-economic issues have now receded to some extent and the company continues to grow and enhance the income generation of its facilities to exploit their full potential, if still against a background of a challenging economic climate. Against the above background, the 2023 year reflected further sales growth of some 16% to a record level, if against an environment of increasing market costs and challenges, this followed by a fall in revenue in the subsequent year, ended 31 March 2024. Given the consequent loss arising for the 2024 year, the directors and key management undertook a determined policy of recovery and efficiencies which has resulted in a significant improvement and return to profitability in this latest year, this with the prospect of further expansion and profit enhancement going forward. The key performance indicators for the year were as follows: - Total revenue increased by a total of £569k or 14.58% - Despite the increased turnover, the gross percentage margin improved from 33.94% to 39.83%, this consequent on keen price controls and employment efficiencies, allied to economies of scale, this providing further evidence as to the potential for the company on the back of continued revenue generation. - The operating result for the year reflected a year on year improvement of £553k to a current year pre tax profit of £160k. - With no tax liabilities arising as a result of earlier year losses, the net profit has been retained to further enhance a strong closing Statement of Financial Position Despite the inevitable and global negative impact of world events, the directors remain of the view that there is a significant potential for further positive trading going forward, if very much against a background of market challenges both in terms of revenue generation and inward costing. The company has a very strong market presence in the specialist functions market, particularly in relation to weddings. The directors are clearly monitoring the cash flow position and the availability of working capital to fund this re-emergence from the economic and social impact of world events and are confident of having access to the resources sufficient to take maximum advantage of the opportunities which will arise. A reorganisation and re-structure in the post year end period into a stronger group with access to enhanced financial resources will add to the ability of the company to expand further and drive future probability.

There remain, inevitably, inherent risks as a result of the nature of the trade and the intensive utilisation of the company's premises in an environment where infections can easily be transmitted. The company takes extensive precautions to minimise such risks, as far as is practical. However, the Covid-19 pandemic was an event well beyond the control of the directors, and is indicative of the global risks which remain, including subsequent global issues which have impacted the economy generally. The company continues to be reliant on funding from related parties. This funding is under constant review, but supporting the view that the funding will remain in place for the foreseeable future, in particular within the new group structure.

This report was approved by the board of directors on 21 October 2025 and signed on behalf of the board by:

G J Davies

Director

Registered office:

C/O Director of Finance

Mosborough Hall Hotel

High Street

Mosborough

Sheffield

S20 5EA

Venice Regal Sheffield Limited

Directors' Report

Year ended 31 March 2025

The directors present their report and the financial statements of the company for the year ended 31 March 2025 .

Directors

The directors who served the company during the year were as follows:

Ms S Howes
G Dyke
G J Davies
Mr N Burgin	(Resigned 31 October 2024)

Dividends

The directors do not recommend the payment of a dividend.

Future developments

There are no changes anticipated to the fundamental nature of the business in the longer term, other than a change in the group structure, post the period end, to further enhance access to funding and development support. In addition, trading and operational practices have been adapted as a consequence of the global pandemic and other macro factors to build future resilience to such possible issues.

Financial instruments

The company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds and to finance the company's operations. Due to the nature of the financial instruments used by the company there is no exposure to price risk.

The company's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of bank accounts.

Trade debtors are managed in respect of credit and cash flow risk by the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring that sufficient funds are available to meet amounts due.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 21 October 2025 and signed on behalf of the board by:

G J Davies

Director

Registered office:

C/O Director of Finance

Mosborough Hall Hotel

High Street

Mosborough

Sheffield

S20 5EA

Venice Regal Sheffield Limited

Independent Auditor's Report to the Members of Venice Regal Sheffield Limited

Year ended 31 March 2025

Opinion

We have audited the financial statements of Venice Regal Sheffield Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of income and retained earnings, statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: - the nature of the industry and sector, control environment and business performance, including the identification of related party transactions, and matters which could potentially impact on the company's continuation as a going concern; - results of our enquiries of management and assessment of the risks of irregularities; - any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to: - identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; - detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; - the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; - the matters discussed among the audit engagement team, including how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK Corporate Governance Code and local tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Throssell FCA

(Senior Statutory Auditor)

For and on behalf of

Hebblethwaites

Chartered Accountants & Statutory Auditors

2 Westbrook Court

Sharrow Vale Road

Sheffield

S11 8YZ

31 October 2025

Venice Regal Sheffield Limited

Statement of Income and Retained Earnings

Year ended 31 March 2025

		2025	2024
Note		£	£
Turnover	4	4,472,171	3,903,004

Cost of sales	2,690,965	2,578,394
	------------	------------
Gross profit	1,781,206	1,324,610

Administrative expenses		1,744,189	1,811,456
Other operating income	5	100,000	100,000
		------------	------------
Operating profit/(loss)	6	137,017	( 386,846)

Other interest receivable and similar income	8	34,029	–
Interest payable and similar expenses	9	10,589	6,445
		------------	------------
Profit/(loss) before taxation		160,457	( 393,291)

Tax on profit/(loss)	–	–
	---------	---------
Profit/(loss) for the financial year and total comprehensive income	160,457	( 393,291)
	---------	---------

Retained earnings at the start of the year	7,908,968	8,302,259
	------------	------------
Retained earnings at the end of the year	8,069,425	7,908,968
	------------	------------

All the activities of the company are from continuing operations.

Venice Regal Sheffield Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	10	379,524	332,023
Investments	11	100	100
		---------	---------
		379,624	332,123

Current assets

Stocks	12	30,953	33,059
Debtors	13	9,729,161	9,465,453
Cash at bank and in hand		150,622	558,369
		------------	-------------
		9,910,736	10,056,881

Creditors: amounts falling due within one year	14	2,220,934	2,480,035
		------------	-------------
Net current assets		7,689,802	7,576,846
		------------	------------
Total assets less current liabilities		8,069,426	7,908,969
		------------	------------
Net assets		8,069,426	7,908,969
		------------	------------

Capital and reserves

Called up share capital	17	1	1
Profit and loss account	18	8,069,425	7,908,968
		------------	------------
Shareholders funds		8,069,426	7,908,969
		------------	------------

These financial statements were approved by the board of directors and authorised for issue on 21 October 2025 , and are signed on behalf of the board by:

G J Davies

Director

Company registration number: 06291350

Venice Regal Sheffield Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Director of Finance, Mosborough Hall Hotel, High Street, Mosborough, Sheffield, S20 5EA.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Vine Kenwood Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: - the requirements of Section 7 Statement of Cash Flows

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. In the opinion of management, there are no areas of judgement or key sources of estimation uncertainty that have a significant effect on the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	No depreciation
Fixtures and fittings	-	3 to 10 years straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a 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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	4,472,171	3,903,004
	------------	------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2025	2024
	£	£
Management charges receivable	100,000	100,000
	---------	---------

6. Operating profit/(loss)

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Depreciation of tangible assets	81,896	122,673
Gains on disposal of tangible assets	–	( 1,294)
Impairment of trade debtors	2,145	5,614
	--------	---------

7. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Management staff	14	14
Administration and support	76	87
	----	----
	90	101
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	1,677,186	1,651,593
Social security costs	112,643	120,241
Other pension costs	18,523	24,670
	------------	------------
	1,808,352	1,796,504
	------------	------------

8. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	34,029	–
	--------	----

9. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	10,589	6,445
	--------	-------

10. Tangible assets

	Freehold property	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2024	1,012,394	282,889	1,295,283
Additions	–	129,397	129,397
	------------	---------	------------
At 31 March 2025	1,012,394	412,286	1,424,680
	------------	---------	------------
Depreciation
At 1 April 2024	864,028	99,232	963,260
Charge for the year	–	81,896	81,896
	------------	---------	------------
At 31 March 2025	864,028	181,128	1,045,156
	------------	---------	------------
Carrying amount
At 31 March 2025	148,366	231,158	379,524
	------------	---------	------------
At 31 March 2024	148,366	183,657	332,023
	------------	---------	------------

Depreciation has not been provided on freehold property as the value in use of the property and the anticipated long expected useful life, coupled with the high expected residual value, mean that any depreciation charge would not be material.

11. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	100
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 31 March 2025	100
	----
At 31 March 2024	100
	----

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Vine Kenwood Developments Limited	Ordinary shares	100

12. Stocks

	2025	2024
	£	£
Raw materials and consumables	30,953	33,059
	--------	--------

13. Debtors

	2025	2024
	£	£
Trade debtors	127,171	155,004
Amounts owed by group undertakings	9,241,710	8,834,930
Prepayments and accrued income	28,436	36,859
Other debtors	331,844	438,660
	------------	------------
	9,729,161	9,465,453
	------------	------------

14. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	35,752	89,057
Trade creditors	275,571	292,521
Amounts owed to group undertakings	100	100
Accruals and deferred income	170,552	104,566
Social security and other taxes	78,249	55,237
Other creditors	1,660,710	1,938,554
	------------	------------
	2,220,934	2,480,035
	------------	------------

Obligations under finance leases and hire purchase contracts are secured on the assets concerned.

The bank overdraft is secured upon all assets of the company and also by a debenture from each of (i) Vine Hotels Limited and (ii) Vine Kenwood Limited over all of their assets and undertakings. There is also a cross guarantee from the following companies in respect of the obligations of Venice Regal Sheffield Limited : Vine Hotels Limited Sheffield Park Hotel Property Limited Sheffield Park Hotel Limited Dolphin Hotel (Hampshire) Limited Vine Kenwood Limited Kenwood Hotel Property Limited Cresta Court Hotel Holdings Limited Cresta Court Hotel Property Limited Harrop Hotels Limited In addition, there is an inter-creditor deed between Santander Bank, each obligor above, Greg Dyke, Susan Howes and Garin Davies.

15. Financial risk management objectives and policies

The exposure of the company to price risk, credit risk, liquidity risk and cash flow risk is not considered material for the assessment of the assets, liabilities, financial position and income or expenditure of the company.

16. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 18,523 (2024: £ 24,670 ).

17. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

18. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses.

19. Directors' advances, credits and guarantees

One of the company's directors, Mr G Dyke , has advanced a loan of £1,000,000 to Vine Kenwood Limited, the ultimate parent company. The loan has no fixed repayment terms and attracts interest of 10% per annum. There is a deed of guarantee and indemnity in respect of the loan made between the above director of Vine Kenwood Limited and the following members of the Vine Kenwood group: Kenwood Hotel Property Limited Venice Regal Sheffield Limited The loan is secured by a fixed and floating charge over all assets of the group companies. Interest totalling £100,000 (2024: £100,000) in respect of this loan has been charged to Vine Kenwood Limited during the year.

20. Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102, not to disclose related party transactions with fellow 100% group companies.

21. Controlling party

The entire share capital of the company is in the ownership of Kenwood Hotel Property Limited, whose parent company is Vine Kenwood Limited. The three companies share the same registered address and Vine Kenwood Limited will be preparing consolidated group accounts covering all three companies.