Venture Court Limited - Accounts to registrar (filleted) - small 18.2

Venture Court Limited - Accounts to registrar (filleted) - small 18.2

VENTURE COURT LIMITED - Company Information

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REGISTERED NUMBER: 10687506 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

VENTURE COURT LIMITED
VENTURE COURT LIMITED (REGISTERED NUMBER: 10687506)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


VENTURE COURT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTOR: Mr J Mansour





REGISTERED OFFICE: Mayfield House
177 Shaftesbury Avenue
London
WC2H 8JR





REGISTERED NUMBER: 10687506 (England and Wales)





ACCOUNTANTS: David Simon Limited
Chartered Certified Accountants
5 Jardine House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX
Page 1
VENTURE COURT LIMITED (REGISTERED NUMBER: 10687506)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Investments 4 205,000 205,000
Investment property 5 1,015,000 1,885,000
1,220,000 2,090,000

CURRENT ASSETS
Stocks 9,573 -
Debtors 6 4,943 163,536
Cash at bank 300 1,583
14,816 165,119
CREDITORS
Amounts falling due within one year 7 206,397 891,511
NET CURRENT LIABILITIES (191,581 ) (726,392 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,028,419
1,363,608

CREDITORS
Amounts falling due after more than one
year
8
(719,415
)
(1,285,644
)

PROVISIONS FOR LIABILITIES (15,200 ) -
NET ASSETS 293,804 77,964

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 10 64,800 -
Retained earnings 229,003 77,963
SHAREHOLDERS' FUNDS 293,804 77,964

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
VENTURE COURT LIMITED (REGISTERED NUMBER: 10687506)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2021


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 director and authorised for issue on 29 September 2022 and were signed by:





Mr J Mansour - Director


The notes form part of these financial statements

Page 3
VENTURE COURT LIMITED (REGISTERED NUMBER: 10687506)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Government assisted loans
Loans received through the Bounce Back Loan Scheme (BBLS) or the Coronavirus Business Interruption Loan Scheme (CBILS) are accounted for on the date the funds are received by the company. The first twelve months of the interest charge, which is funded by the government, is recognised in the profit and loss account as both an interest charge and as a government grant receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2021
and 31 December 2021 205,000
NET BOOK VALUE
At 31 December 2021 205,000
At 31 December 2020 205,000

Page 4 continued...
VENTURE COURT LIMITED (REGISTERED NUMBER: 10687506)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021 1,885,000
Disposals (950,000 )
Revaluations 80,000
At 31 December 2021 1,015,000
NET BOOK VALUE
At 31 December 2021 1,015,000
At 31 December 2020 1,885,000

Fair value at 31 December 2021 is represented by:
£   
Valuation in 2021 1,015,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 4,943 12,978
Amounts owed by group undertakings - 107,380
Other debtors - 43,178
4,943 163,536

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 8,372 3,810
Amounts owed to group undertakings 178,516 871,061
Taxation and social security 4,751 -
Other creditors 14,758 16,640
206,397 891,511

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 719,415 1,240,644
Other creditors - 45,000
719,415 1,285,644

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 719,415 1,240,644

Repayable by instalments
Other loans more 5yrs instal - 5,000

Page 5 continued...
VENTURE COURT LIMITED (REGISTERED NUMBER: 10687506)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

9. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 719,415 1,240,644

The loans are secured by way of a charge over the assets of the company and contains a
covenant of equal coverage.

10. RESERVES
Fair
value
reserve
£   
Transfer 64,800

At 31 December 2021 64,800

11. RELATED PARTY DISCLOSURES

As at 31 December 2021, included in debtors is an amount of £NIL (2020: £107,380) due from related companies in which the director has an interest.

As at 31 December 2021, included in creditors is an amount of £178,516 (2020: £871,061) due to related companies in which the director has an interest.

12. ULTIMATE CONTROLLING PARTY

At 31 December 2021, the company's controlling party was Mayfield Property Group Limited. These accounts present information about the company as an individual and not about the group.

13. SUBSIDIARIES

Details of the company's subsidiaries at 31 December 2021 are as follows:


Name of undertaking		 Registered
office key		 Nature of
Business
Class of shares held
% held

Venture Court Freehold Limited 1 Non-trading Ordinary Shares 100.00

Registered office address:

1 177 Shaftesbury Avenue, London WC2H 8JR

Page 6