IRIS Accounts Production v23.3.1.45 04132081 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041320812022-02-28041320812023-02-28041320812022-03-012023-02-28041320812020-12-31041320812021-01-012022-02-28041320812022-02-2804132081ns10:Originalns15:EnglandWales2022-03-012023-02-2804132081ns14:PoundSterlingns10:Original2022-03-012023-02-2804132081ns10:Originalns10:Director12022-03-012023-02-2804132081ns10:Original2022-03-012023-02-2804132081ns10:Original2023-02-2804132081ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2804132081ns10:Originalns10:SmallEntities2022-03-012023-02-2804132081ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2804132081ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2804132081ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2804132081ns10:Originalns10:FullAccounts2022-03-012023-02-2804132081ns10:Originalns10:OrdinaryShareClass12022-03-012023-02-2804132081ns10:Originalns10:Director22022-03-012023-02-2804132081ns10:CompanySecretary1ns10:Original2022-03-012023-02-2804132081ns10:Originalns10:RegisteredOffice2022-03-012023-02-2804132081ns10:Original2022-02-2804132081ns10:Originalns5:CurrentFinancialInstruments2023-02-2804132081ns10:Originalns5:CurrentFinancialInstruments2022-02-2804132081ns5:ShareCapitalns10:Original2023-02-2804132081ns5:ShareCapitalns10:Original2022-02-2804132081ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2804132081ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2804132081ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-03-012023-02-2804132081ns10:Originalns5:LeaseholdImprovements2022-03-012023-02-2804132081ns10:Originalns5:PlantMachinery2022-03-012023-02-2804132081ns10:Originalns5:MotorVehicles2022-03-012023-02-2804132081ns10:Original2021-01-012022-02-2804132081ns10:Originalns5:PlantMachinery2022-02-2804132081ns10:Originalns5:PlantMachinery2023-02-2804132081ns10:Originalns5:PlantMachinery2022-02-2804132081ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2804132081ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-02-2804132081ns10:Originalns10:OrdinaryShareClass12023-02-28
REGISTERED NUMBER: 04132081 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

VENTURE ASPECTS LIMITED

VENTURE ASPECTS LIMITED (REGISTERED NUMBER: 04132081)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VENTURE ASPECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: D S Taylor
J Taylor





SECRETARY: J Taylor





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 04132081 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

VENTURE ASPECTS LIMITED (REGISTERED NUMBER: 04132081)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,511 11,348

CURRENT ASSETS
Stocks 77 125
Debtors 5 65,095 154,002
Cash at bank 90,414 72,391
155,586 226,518
CREDITORS
Amounts falling due within one year 6 58,970 80,404
NET CURRENT ASSETS 96,616 146,114
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,127

157,462

PROVISIONS FOR LIABILITIES 2,128 2,156
NET ASSETS 102,999 155,306

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 102,899 155,206
SHAREHOLDERS' FUNDS 102,999 155,306

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.

VENTURE ASPECTS LIMITED (REGISTERED NUMBER: 04132081)

BALANCE SHEET - continued
28 FEBRUARY 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 Income and Retained Earnings has not been delivered.

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





D S Taylor - Director


VENTURE ASPECTS LIMITED (REGISTERED NUMBER: 04132081)

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

1. STATUTORY INFORMATION

Venture Aspects 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 4% on cost
Fixtures & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

VENTURE ASPECTS LIMITED (REGISTERED NUMBER: 04132081)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 3 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 43,841
DEPRECIATION
At 1 March 2022 32,493
Charge for year 2,837
At 28 February 2023 35,330
NET BOOK VALUE
At 28 February 2023 8,511
At 28 February 2022 11,348

The net book value of tangible fixed assets includes £NIL (2022 - £ 5,977 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 65,004 46,410
Other debtors 91 107,592
65,095 154,002

VENTURE ASPECTS LIMITED (REGISTERED NUMBER: 04132081)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 4,012 -
Hire purchase contracts - 4,081
Trade creditors 512 21,702
Taxation and social security 48,730 48,212
Other creditors 5,716 6,409
58,970 80,404

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary £1 100 100