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Registration number: 07488065

Venturer Construction Limited

trading as Venturer Construction Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Venturer Construction Limited

trading as Venturer Construction Ltd

Contents

Company Information

1

Statement of Director's Responsibilities

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Venturer Construction Limited

trading as Venturer Construction Ltd

Company Information

Director

Mr Paul Gould

Company secretary

Mrs Sandra Gould

Registered office

Venturer House The Street
Minsterworth
Gloucester
GL2 8JJ

Accountants

Cashtrac Ltd
15 Westgate House
Westgate Street
Gloucester
Gloucestershire
GL1 2RU

 

Venturer Construction Limited

trading as Venturer Construction Ltd

Statement of Director's Responsibilities

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006 and in accordance with FRS 102 section 1A, the Financial Reporting Standard applicable to the Small Entities Regime. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Venturer Construction Limited

trading as Venturer Construction Ltd

(Registration number: 07488065)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

39,320

53,296

Current assets

 

Debtors

5

78,446

7,350

Cash at bank and in hand

 

49,316

69,791

 

127,762

77,141

Creditors: Amounts falling due within one year

6

(78,077)

(70,479)

Net current assets

 

49,685

6,662

Net assets

 

89,005

59,958

Capital and reserves

 

Called up share capital

7

23

23

Retained earnings

88,982

59,935

Shareholders' funds

 

89,005

59,958

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 November 2023
 

.........................................
Mr Paul Gould
Director

 

Venturer Construction Limited

trading as Venturer Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
Venturer House The Street
Minsterworth
Gloucester
GL2 8JJ
United Kingdom

These financial statements were authorised for issue by the director on 1 November 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Venturer Construction Limited

trading as Venturer Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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

Plant & Machinery

25% reducing balance

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.

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 the director) during the year, was 3 (2022 - 2).

 

Venturer Construction Limited

trading as Venturer Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

1,063

50,270

7,498

58,831

Additions

1,083

-

-

1,083

Disposals

-

(2,100)

-

(2,100)

At 30 June 2023

2,146

48,170

7,498

57,814

Depreciation

At 1 July 2022

177

1,196

4,162

5,535

Charge for the year

447

11,765

834

13,046

Eliminated on disposal

-

(87)

-

(87)

At 30 June 2023

624

12,874

4,996

18,494

Carrying amount

At 30 June 2023

1,522

35,296

2,502

39,320

At 30 June 2022

886

49,074

3,336

53,296

5

Debtors

Current

2023
£

2022
£

Trade debtors

56,946

7,350

Other debtors

21,500

-

 

78,446

7,350

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

35,625

32,701

Accruals and deferred income

40,498

36,271

Other creditors

1,954

1,507

78,077

70,479

 

Venturer Construction Limited

trading as Venturer Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

23

23

23

23

         

8

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £850.00 (2022 - £1,140.00) per ordinary share

 

19,550

 

26,220

         

9

Related party transactions

 

Venturer Construction Limited

trading as Venturer Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Transactions with the director

 

Venturer Construction Limited

trading as Venturer Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,564

12,564