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REGISTERED NUMBER: 07252850 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

INSTEM VENTURES LIMITED

INSTEM VENTURES LIMITED (REGISTERED NUMBER: 07252850)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


INSTEM VENTURES LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTOR: M A Gare





REGISTERED OFFICE: 37 Sandmoor Place
Lymm
Warrington
Cheshire
WA13 0LQ





REGISTERED NUMBER: 07252850 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

INSTEM VENTURES LIMITED (REGISTERED NUMBER: 07252850)

STATEMENT OF FINANCIAL POSITION
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 275

CURRENT ASSETS
Debtors 5 44,900 41,700
Cash at bank 585,320 501,305
630,220 543,005
CREDITORS
Amounts falling due within one year 6 77,831 75,653
NET CURRENT ASSETS 552,389 467,352
TOTAL ASSETS LESS CURRENT
LIABILITIES

552,389

467,627

CREDITORS
Amounts falling due after more than one
year

7

(10,000

)

(15,000

)

PROVISIONS FOR LIABILITIES - (52 )
NET ASSETS 542,389 452,575

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 542,289 452,475
SHAREHOLDERS' FUNDS 542,389 452,575

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

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

The director acknowledges his 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.

INSTEM VENTURES LIMITED (REGISTERED NUMBER: 07252850)

STATEMENT OF FINANCIAL POSITION - continued
31 May 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 November 2023 and were signed by:





M A Gare - Director


INSTEM VENTURES LIMITED (REGISTERED NUMBER: 07252850)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Instem Ventures 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reports Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.

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 principal accounting policies adopted in the preparation of the financial statements are set out below.

Turnover
Turnover represents fees receivable from contracts to provide services, including expenses but excluding value added tax.
Revenue is recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue is measured at the fair value of the work performed by reference to the amounts chargeable to customers, excluding value added tax. Revenue not billed to customers at the balance sheet date is included in debtors as 'Amounts recoverable on incomplete contracts'.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - straight line over 3 years

Financial instruments
The following assets and liabilities are classified as financial instruments; trade debtors, Directors' loan account, trade creditors and accruals.

Financial instruments that are payable or receivable withing one year, typically Directors' loan accounts, trade creditors, accruals and trade debtors, are measured initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received.or received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


INSTEM VENTURES LIMITED (REGISTERED NUMBER: 07252850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

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. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 5,447
DEPRECIATION
At 1 June 2022 5,172
Charge for year 275
At 31 May 2023 5,447
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 275

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts recoverable on
incomplete contracts 44,900 41,700
44,900 41,700

INSTEM VENTURES LIMITED (REGISTERED NUMBER: 07252850)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,000 5,000
Taxation and social security 69,263 67,055
Other creditors 3,568 3,598
77,831 75,653

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 10,000 15,000