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REGISTERED NUMBER: 08765695 (England and Wales)








Strategic Report,

Report of the Directors and

Financial Statements

For The Year Ended 31 March 2023

for

Ventro Ltd

Ventro Ltd (Registered number: 08765695)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Income and Retained Earnings 7

Balance Sheet 8

Cash Flow Statement 9

Notes to the Cash Flow Statement 10

Notes to the Financial Statements 11


Ventro Ltd

Company Information
For The Year Ended 31 March 2023







DIRECTORS: T H Melvin
R D Melvin
H D Melvin
E Besley





REGISTERED OFFICE: Aquilam House
7 Darklake View
Plymouth
Devon
PL6 7TL





REGISTERED NUMBER: 08765695 (England and Wales)





AUDITORS: Bromhead
Chartered Accountants
Statutory Auditors
Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

Ventro Ltd (Registered number: 08765695)

Strategic Report
For The Year Ended 31 March 2023

The directors present their strategic report for the year ended 31 March 2023.

REVIEW OF THE BUSINESS

During the year the company continued with the delivery of fire safety services.

The company now employs 141 staff, an increase of 42 from the prior year. Whilst revenue growth of 3% was behind the levels generated in previous years, the directors see the investment in people as key for future expansion. Strategic changes were made during the year that the directors expect to significantly enhance revenue growth and contribution margin in future years.

Profitability in the year was impacted by inflationary pressures and steps have been taken to mitigate this going forward. In addition, material non-recurring investments were made in business infrastructure as well as the cost of the strategic changes mentioned above. These factors together resulted in a significant reduction in profitability. The directors are confident these impacts are temporary with profitability strengthening going forward and the business upgraded.

Key performance indicators and other business measures

Below are shown some key performance indicators for the business


31 March 2023 31 March 2022
Turnover 24,678,355 23,933,203
Contribution margin* 8,544,379 9,899,182
Contribution margin % 34.6% 41.4%
Average number of employees 141 99
Net Assets 4,187,217 5,361,605

*Contribution margin is calculated as gross profit before management/overhead salaries.

PRINCIPAL RISKS AND UNCERTAINTIES

Whilst the sector is robust given the legislative and cultural pressure to ensure that buildings and structures provide both a safe and compliant provision for their occupants, the directors are mindful of current economic pressures. It is therefore ever more important that the company continues to provide excellent value for money thereby mitigating some element of this risk.

The company continues to build and strengthen relationships with supply chain, along with expanding the supply chain in order to mitigate risks of supply chain shortages as the company continues to grow.

SUSTAINABILITY

Ventro continues to take a sustainable approach to all processes, including making a deliberate move towards our goal of having 100% of site waste recycled or disposed of in the most environmentally friendly way. Ventro aims to support and nurture talent including various sponsorship and work experience schemes, and employing local staff to where contracts are situated. Our committal to supporting charitable initiatives has continued which is in addition to the volunteering support such as local environment cleaning activities and supporting local food banks and local charities.

ON BEHALF OF THE BOARD:





R D Melvin - Director


8 February 2024

Ventro Ltd (Registered number: 08765695)

Report of the Directors
For The Year Ended 31 March 2023

The directors present their report with the financial statements of the company for the year ended 31 March 2023.

DIVIDENDS
Interim dividends of £18,271.15 per ordinary A share was paid during the year. The directors recommended that no final dividend be paid.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

T H Melvin
R D Melvin
H D Melvin

Other changes in directors holding office are as follows:

E Besley was appointed as a director after 31 March 2023 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Bromhead, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R D Melvin - Director


8 February 2024

Report of the Independent Auditors to the Members of
Ventro Ltd

Opinion
We have audited the financial statements of Ventro Ltd (the 'company') for the year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Ventro Ltd


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.

We identified the laws and regulations applicable to the company through discussions with directors and other management and from our commercial knowledge.

We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company including, Companies Act 2006, Health & Safety at Work Act, Employment Law and data protection.

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by, making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud. Also, considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls we performed analytical procedures to identify any unusual or unexpected relationships, tested. journal entries to identify any unusual transaction and assessed whether judgement and estimates were indicative of potential bias..

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to agreeing financial statement disclosures to underlying supporting documents, reading the minutes of meeting of those charged with governance and enquiring of management as to actual and potential litigation claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Ventro Ltd


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




James Groves FCA (Senior Statutory Auditor)
for and on behalf of Bromhead
Chartered Accountants
Statutory Auditors
Harscombe House
1 Darklake View
Plymouth
Devon
PL6 7TL

8 February 2024

Ventro Ltd (Registered number: 08765695)

Statement of Income and
Retained Earnings
For The Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

TURNOVER 24,678,355 23,933,203

Cost of sales 20,169,986 15,273,159
GROSS PROFIT 4,508,369 8,660,044

Administrative expenses 3,699,575 2,874,254
808,794 5,785,790

Other operating income 2,712 -
OPERATING PROFIT and
PROFIT BEFORE TAXATION 811,506 5,785,790

Tax on profit 5 158,779 1,117,321
PROFIT FOR THE FINANCIAL YEAR 652,727 4,668,469

Retained earnings at beginning of year 5,361,305 3,070,576

Dividends 6 (1,827,115 ) (2,377,740 )

RETAINED EARNINGS AT END OF YEAR 4,186,917 5,361,305

Ventro Ltd (Registered number: 08765695)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 600,266 447,917

CURRENT ASSETS
Stocks 8 1,018,442 675,446
Debtors 9 7,995,231 7,430,602
Cash at bank 1,513,199 2,595,238
10,526,872 10,701,286
CREDITORS
Amounts falling due within one year 10 6,835,773 5,733,013
NET CURRENT ASSETS 3,691,099 4,968,273
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,291,365

5,416,190

PROVISIONS FOR LIABILITIES 12 104,148 54,585
NET ASSETS 4,187,217 5,361,605

CAPITAL AND RESERVES
Called up share capital 13 300 300
Retained earnings 14 4,186,917 5,361,305
SHAREHOLDERS' FUNDS 4,187,217 5,361,605

The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:




R D Melvin - Director



H D Melvin - Director


Ventro Ltd (Registered number: 08765695)

Cash Flow Statement
For The Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 62,968 3,188,123
Tax paid (829,680 ) (481,270 )
Net cash from operating activities (766,712 ) 2,706,853

Cash flows from investing activities
Purchase of tangible fixed assets (367,620 ) (371,828 )
Sale of tangible fixed assets 13,705 -
Net cash from investing activities (353,915 ) (371,828 )

Cash flows from financing activities
Intercompany loans issued - (464,191 )
Intercompany loans repaid 1,623,051 611,650
Amount introduced by directors 242,652 -
Equity dividends paid (1,827,115 ) (2,377,740 )
Net cash from financing activities 38,588 (2,230,281 )

(Decrease)/increase in cash and cash equivalents (1,082,039 ) 104,744
Cash and cash equivalents at beginning of
year

2

2,595,238

2,490,494

Cash and cash equivalents at end of year 2 1,513,199 2,595,238

Ventro Ltd (Registered number: 08765695)

Notes to the Cash Flow Statement
For The Year Ended 31 March 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
31.3.23 31.3.22
£    £   
Profit before taxation 811,506 5,785,790
Depreciation charges 201,565 136,175
1,013,071 5,921,965
Increase in stocks (342,996 ) (531,768 )
Increase in trade and other debtors (900,179 ) (4,017,590 )
Increase in trade and other creditors 293,072 1,815,516
Cash generated from operations 62,968 3,188,123

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 1,513,199 2,595,238
Year ended 31 March 2022
31.3.22 1.4.21
£    £   
Cash and cash equivalents 2,595,238 2,490,494


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.22 Cash flow At 31.3.23
£    £    £   
Net cash
Cash at bank and in hand 2,595,238 (1,082,039 ) 1,513,199
2,595,238 (1,082,039 ) 1,513,199
Total 2,595,238 (1,082,039 ) 1,513,199

Ventro Ltd (Registered number: 08765695)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Ventro Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue form the sale of goods, being finished goods, is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on installation of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Income is accrued where the the provision of goods and services to the third party have occurred but the invoicing of which has not been carried out until after the year end. This is reflected as an asset in the balance sheet of the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost and 30 years straight line
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Office equipment - 25% on cost

Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of direct materials and, where applicable, labour costs and overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Work in progress is calculated based on the expected profit margins for each contract or project and comparing the amounts invoiced to costs incurred to date. Positive work in progress is shown as an asset and negative work in progress is reflected within other creditors.


Ventro Ltd (Registered number: 08765695)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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 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.

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.

Accrued expenses
Expenditure is accrued where the provision of goods and services from a third party have been received but the invoicing of which has not occurred. This is reflected as a creditor in the balance sheet of the company.

3. EMPLOYEES AND DIRECTORS
31.3.23 31.3.22
£    £   
Wages and salaries 4,716,832 3,193,560
Social security costs 540,939 296,349
Other pension costs 94,519 49,051
5,352,290 3,538,960

The average number of employees during the year was as follows:
31.3.23 31.3.22

Directors 3 3
Direct labour 83 55
Direct management 12 9
Back office 43 32
141 99

31.3.23 31.3.22
£    £   
Directors' remuneration 27,180 30,870

Ventro Ltd (Registered number: 08765695)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

4. OPERATING PROFIT

The operating profit is stated after charging:

31.3.23 31.3.22
£    £   
Depreciation - owned assets 201,566 136,195
Auditors' remuneration 9,450 9,000

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.3.23 31.3.22
£    £   
Current tax:
UK corporation tax 109,216 1,081,447

Deferred tax 49,563 35,874
Tax on profit 158,779 1,117,321

UK corporation tax was charged at 19%) in 2022.

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.3.23 31.3.22
£    £   
Profit before tax 811,506 5,785,790
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2022 - 19%)

154,186

1,099,300

Effects of:
Expenses not deductible for tax purposes 5,116 4,401
Capital allowances in excess of depreciation (50,086 ) (22,254 )
Deferred tax charge 49,563 35,874
Total tax charge 158,779 1,117,321

6. DIVIDENDS
31.3.23 31.3.22
£    £   
A Ordinary shares of £1 each
Interim 1,827,115 2,377,740

Ventro Ltd (Registered number: 08765695)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

7. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 402,518 28,238 90,223
Additions - 18,472 6,668
Disposals - - (6,608 )
At 31 March 2023 402,518 46,710 90,283
DEPRECIATION
At 1 April 2022 187,989 11,172 39,287
Charge for year 39,388 9,288 19,274
Eliminated on disposal - - (3,166 )
At 31 March 2023 227,377 20,460 55,395
NET BOOK VALUE
At 31 March 2023 175,141 26,250 34,888
At 31 March 2022 214,529 17,066 50,936

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 129,874 168,700 819,553
Additions 279,300 63,180 367,620
Disposals - (10,947 ) (17,555 )
At 31 March 2023 409,174 220,933 1,169,618
DEPRECIATION
At 1 April 2022 63,155 70,033 371,636
Charge for year 87,992 45,624 201,566
Eliminated on disposal - (684 ) (3,850 )
At 31 March 2023 151,147 114,973 569,352
NET BOOK VALUE
At 31 March 2023 258,027 105,960 600,266
At 31 March 2022 66,719 98,667 447,917

8. STOCKS
31.3.23 31.3.22
£    £   
Stocks 178,456 96,968
Work-in-progress 839,986 578,478
1,018,442 675,446

Ventro Ltd (Registered number: 08765695)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 5,591,047 5,502,487
Retentions 266,555 225,468
Amounts owed by group undertakings - 335,550
Other debtors 582,308 63,320
Prepayments and accrued income 1,555,321 1,303,777
7,995,231 7,430,602

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 2,722,898 1,766,893
Amounts owed to group undertakings 1,287,500 -
Tax 184,983 905,447
Social security and other taxes 160,901 147,822
VAT 546,166 1,076,153
Other creditors 543,873 407,565
Directors' current accounts 242,652 -
Accruals and deferred income 1,146,800 1,429,133
6,835,773 5,733,013

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 166,421 145,004
Between one and five years 128,529 113,039
294,950 258,043

12. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 104,148 54,585

Deferred
tax
£   
Balance at 1 April 2022 54,585
Accelerated capital allowances 49,563
Balance at 31 March 2023 104,148

Ventro Ltd (Registered number: 08765695)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 A Ordinary £1 100 100
100 B Ordinary £1 100 100
100 C Ordinary £1 100 100
300 300

All shares have equal rights to dividends, voting and distributions.

14. RESERVES
Retained
earnings
£   

At 1 April 2022 5,361,305
Profit for the year 652,727
Dividends (1,827,115 )
At 31 March 2023 4,186,917

15. ULTIMATE CONTROLLING PARTY

The ultimate parent company, preparing the consolidated group accounts, is Aquilam Group Ltd. This company operates from the same address as Ventro Ltd and is the location where the group consolidated financial statements can be obtained.