Registration number: 11991983

Venturegains Consultancy Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 8

Venturegains Consultancy Ltd

Company Information

Directors

Mrs Rebecca Webster Mr David Webster

Company secretary

Mr David Webster

Registered office

Orchard Cottage 6 Shaw Brow Whittle Le Woods Chorley Lancashire PR6 7LE

Accountants

Harrison Salmon Associates Limited Suite 21 Chorley Business & Technology Centre East Terrace Euxton Lane Chorley Lancashire PR7 6TE

Venturegains Consultancy Ltd

(Registration number: 11991983)
Balance Sheet as at 31 March 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	3,825	2,321
Investment property	5	2,540	-
		6,365	2,321
Current assets
Stocks	6	3,476	2,438
Debtors	7	-	20,000
Cash at bank and in hand		60,821	18,649
		64,297	41,087
Creditors: Amounts falling due within one year	8	(69,771)	(22,825)
Net current (liabilities)/assets		(5,474)	18,262
Total assets less current liabilities		891	20,583
Provisions for liabilities		(727)	(441)
Net assets		164	20,142
Capital and reserves
Called up share capital	9	2	1
Retained earnings		162	20,141
Shareholders' funds		164	20,142

For the financial year ending 31 March 2023 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Profit and Loss Account.

Approved and authorised by the Board on 28 September 2023 and signed on its behalf by:
 

Venturegains Consultancy Ltd

(Registration number: 11991983)
Balance Sheet as at 31 March 2023

......................................... Mrs Rebecca Webster Director

Venturegains Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1	General information

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

The address of its registered office is:
Orchard Cottage
6 Shaw Brow
Whittle Le Woods
Chorley
Lancashire
PR6 7LE
England

These financial statements were authorised for issue by the Board on 28 September 2023.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The potential impacts of the Coronavirus pandemic have been considered, and the director believes that the company's approach to mitigating their risks, including control of overheads, will help to reduce the financial impact. On this basis the director considers that it remains appropriate to prepare the accounts on a going concern basis.

Tax

The tax expense for the period comprises 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.

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.

Venturegains Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet 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
Furniture, fittings, tools and equipment	15% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Venturegains Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

Venturegains Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2022	3,218	-	3,218
Additions	1,881	298	2,179
At 31 March 2023	5,099	298	5,397
Depreciation
At 1 April 2022	897	-	897
Charge for the year	630	45	675
At 31 March 2023	1,527	45	1,572
Carrying amount
At 31 March 2023	3,572	253	3,825
At 31 March 2022	2,321	-	2,321

5	Investment properties

	2023 £
Additions	2,540
At 31 March	2,540

There has been no valuation of investment property by an independent valuer.

6

Stocks

	2023 £	2022 £
Finished goods and goods for resale	3,476	2,438

7

Debtors

Current	2023 £	2022 £
Other debtors	-	20,000

Venturegains Consultancy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Creditors

Creditors: amounts falling due within one year

	2023 £	2022 £
Due within one year
Trade creditors	-	67
Accruals and deferred income	714	684
Other creditors	69,057	22,074
	69,771	22,825