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Registration number: 11546969

Ven Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Ven Solutions Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

Ven Solutions Limited

(Registration number: 11546969)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,377

4,561

Current assets

 

Debtors

5

24,044

23,891

Cash at bank and in hand

 

29,733

79,390

 

53,777

103,281

Creditors: Amounts falling due within one year

6

(5,125)

(4,579)

Net current assets

 

48,652

98,702

Net assets

 

53,029

103,263

Capital and reserves

 

Called up share capital

20

20

Retained earnings

53,009

103,243

Shareholders' funds

 

53,029

103,263

 

Ven Solutions Limited

(Registration number: 11546969)
Balance Sheet as at 30 September 2023

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 November 2023 and signed on its behalf by:
 

.........................................
Mr M F Norman
Director

 

Ven Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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 provision of management consultancy services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

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

Office equipment

20% straight line basis

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.

Debtors

Trade debtors are amounts due from customers for management consultancy services performed in the ordinary course of business.

 

Ven Solutions Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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 directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 October 2022

7,784

7,784

Additions

1,645

1,645

At 30 September 2023

9,429

9,429

Depreciation

At 1 October 2022

3,223

3,223

Charge for the year

1,829

1,829

At 30 September 2023

5,052

5,052

Carrying amount

At 30 September 2023

4,377

4,377

At 30 September 2022

4,561

4,561

5

Debtors

Current

2023
£

2022
£

Other debtors

24,044

23,891

 

Ven Solutions Limited

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

267

Other creditors

5,125

4,312

5,125

4,579

7

Related party transactions

Transactions with directors

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Mr M F Norman

Director loan

(2,762)

7,030

(7,843)

(3,575)

         
       

 

2022

At 1 October 2021
£

Advances to director
£

Repayments by director
£

At 30 September 2022
£

Mr M F Norman

Director loan

61,249

3,757

(67,768)

(2,762)

         
       

 

Other transactions with directors

During the year M F Norman (director) had a loan with the company. At the balance sheet date the amount due to/ (from) M F Norman was £3,575 (2022: £2,762)