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REGISTERED NUMBER: 05777893 (England and Wales)







Financial Statements for the Year Ended 31st March 2023

for

Ventutec Limited

Ventutec Limited (Registered number: 05777893)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Ventutec Limited

Company Information
for the Year Ended 31st March 2023







DIRECTORS: K J Savage
J L Smith
D J Lees





REGISTERED OFFICE: Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU





REGISTERED NUMBER: 05777893 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

Ventutec Limited (Registered number: 05777893)

Abridged Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,500 1,500
Tangible assets 5 6,416 9,380
7,916 10,880

CURRENT ASSETS
Debtors 2,552 1,517
Cash at bank 1,884 23,213
4,436 24,730
CREDITORS
Amounts falling due within one year 4,503 4,509
NET CURRENT (LIABILITIES)/ASSETS (67 ) 20,221
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,849

31,101

CREDITORS
Amounts falling due after more than one
year

6

33,959

102,109
NET LIABILITIES (26,110 ) (71,008 )

CAPITAL AND RESERVES
Called up share capital 1,619 1,619
Share premium 199,786 199,786
Revaluation reserve 7 1,462 1,462
Retained earnings (228,977 ) (273,875 )
(26,110 ) (71,008 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Ventutec Limited (Registered number: 05777893)

Abridged Balance Sheet - continued
31st March 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th October 2023 and were signed on its behalf by:





J L Smith - Director


Ventutec Limited (Registered number: 05777893)

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

1. STATUTORY INFORMATION

Ventutec 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.

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

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on reducing balance

GOVERNMENT GRANTS
Income from Government Grants is recognised in the profit and loss in the same period in which the related expense is incurred.

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 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2022
and 31st March 2023 60,095
AMORTISATION
At 1st April 2022
and 31st March 2023 58,595
NET BOOK VALUE

At 31st March 2023 1,500
At 31st March 2022 1,500

Ventutec Limited (Registered number: 05777893)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2022 24,123
Disposals (5,850 )
At 31st March 2023 18,273
DEPRECIATION
At 1st April 2022 14,743
Charge for year 2,088
Eliminated on disposal (4,974 )
At 31st March 2023 11,857
NET BOOK VALUE
At 31st March 2023 6,416
At 31st March 2022 9,380

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 8,750 12,452

7. RESERVES
Revaluation
reserve
£   
At 1st April 2022
and 31st March 2023 1,462

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is a loan from two of the Directors. No interest has been charged on this loan.

9. GOING CONCERN

As at 31 March 2023 the Balance Sheet was overdrawn. The directors have agreed to support the company therefore these accounts have been drawn up on a going concern basis.