VENKATESHWARA_LONDON_LIMI - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Venkateshwara London Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Squire Patton Boggs (Uk) Llp (Ref: Djh), Premier Place, 2 And A Half Devonshire Square, London, EC2M 4UJ.

The financial statements are presented for a period shorter than one year. This is the first accounting period and the year end is aligned with its parent company.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Rental income is recognised in the period to which it relates.

Stocks consists of property and is stated at the lower of cost and estimated selling price less costs to complete and sell. The cost comprises purchase cost together with associated legal and professional fees.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are measured cost.

Basic financial liabilities, including creditors and loans from fellow group companies measured at cost and are classified according to the substance of the contractual arrangements entered into.

The average monthly number of persons (including directors) employed by the company during the period was:

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

During the period the company entered into the following transactions with related parties:

In June 2021 the company acquired the senior training ground and related property for £17,300,000 from The Blackburn Rovers Football & Athletic Limited ("BRFC"), a subsidiary of the ultimate parent company, Venkateshwara Hatcheries Pvt. Ltd. The sales value was determined by an independent valuer, assuming planning permission which has not yet been received. The proceeds are due for settlement by 30 June 2023 and carry interest at 4% above the State Bank of India base rate. Interest arising on the loan in the period was £562,013. BRFC has entered into a lease to continue to use the training ground and rent of £273,827 arose for the period to 31 March 2022. A further amount of £38,230 was due to BRFC.

The company is a subsidiary of Venkateshwara Hatcheries Pvt. Ltd, whose registered address is Venkateshwara House, S. No. 114/A/2 Pune-Sinhagad Road, Pune - 411 030, India.