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REGISTERED NUMBER: 12472573 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28 FEBRUARY 2023

FOR

SUSSEX VENTURES LIMITED

SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 240 194
Investments 6 2 2
242 196

CURRENT ASSETS
Debtors 7 14,454 3,427
Cash at bank 20,041 10,357
34,495 13,784
CREDITORS
Amounts falling due within one year 8 17,394 6,359
NET CURRENT ASSETS 17,101 7,425
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,343

7,621

PROVISIONS FOR LIABILITIES 10 46 37
NET ASSETS 17,297 7,584

CAPITAL AND RESERVES
Called up share capital 11 160 160
Retained earnings 17,137 7,424
SHAREHOLDERS' FUNDS 17,297 7,584

SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

BALANCE SHEET - continued
28 FEBRUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2023 and were signed on its behalf by:





Dr G Chan - Director


SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Sussex Ventures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12472573

Registered office: 48 St Leonards Road
Bexhill on Sea
East Sussex
TN40 1JB

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents amounts receivable for services provided and property letting during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 20% on reducing balance
Computer equipment - 25% on cost

All fixed assets are initially recorded at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.


SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Provision is made for tax on gains and losses arising from investment assets that are measured at fair value. This is measured using the tax rates and allowances that are expected to apply to the sale of the asset.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Fixed asset investments
The fixed asset investments are revalued annually to their fair value. The movement in value is recognised in the profit and loss account.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. TANGIBLE FIXED ASSETS
Office Computer
equipment equipment Totals
£    £    £   
COST
At 1 March 2022 - 259 259
Additions 139 - 139
At 28 February 2023 139 259 398
DEPRECIATION
At 1 March 2022 - 65 65
Charge for year 28 65 93
At 28 February 2023 28 130 158
NET BOOK VALUE
At 28 February 2023 111 129 240
At 28 February 2022 - 194 194

6. FIXED ASSET INVESTMENTS
Fixed
asset
invest-
ments
£   
COST OR VALUATION
At 1 March 2022
and 28 February 2023 2
NET BOOK VALUE
At 28 February 2023 2
At 28 February 2022 2

SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 28 February 2023 is represented by:

Fixed
asset
invest-
ments
£   
Valuation in 2021 (301 )
Valuation in 2022 301
Cost 2
2

Market value of investments at 28 February 2023: £2 (2022: £2).

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 437
Directors' current account 7,056 -
Prepayments and accrued income 7,398 2,990
14,454 3,427

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 804 -
Corporation tax 2,317 1,581
Other creditors 2,826 1,557
Directors' current account - 72
Accruals and deferred income 11,447 3,149
17,394 6,359

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 10,560 5,400
Between one and five years 10,400 7,650
20,960 13,050

SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 46 37

Deferred
tax
£   
Balance at 1 March 2022 37
Provided during year 9
Balance at 28 February 2023 46

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary A £1 100 100
60 Ordinary B £1 60 60
160 160

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
Dr G Chan and Dr N A Lee
Balance outstanding at start of year - -
Amounts advanced 7,056 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,056 -

Loans to the directors not exceeding £10,000 per director, are interest free and repayable on demand.