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Registration number: 13590557

Ciel Ventures Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2023

 

Ciel Ventures Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Balance Sheet

4

Notes to the Unaudited Abridged Financial Statements

5 to 9

 

Ciel Ventures Ltd

Company Information

Director

Dr Angus Prideaux Perry

Registered office

Flat 1 Carlane Court
23 Southwood Road
Hayling Island
Hampshire
PO11 9PS

Bankers

NatWest
Fareham

Accountants

Abtax CA Limited
Certified Accountant
The Joiners Shop The Historic Dockyard
Main Gate Road
Chatham
Kent
ME4 4TZ

 

Ciel Ventures Ltd

Director's Report for the Year Ended 31 August 2023

The director presents his report and the abridged financial statements for the year ended 31 August 2023.

Director of the company

The director who held office during the year was as follows:

Dr Angus Prideaux Perry

Principal activity

The principal activity of the company is Medical Consultancy and Investments

Small companies provision statement

This report has 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.

Approved and authorised by the director on 29 February 2024
 

.........................................
Dr Angus Prideaux Perry
Director

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Ciel Ventures Ltd
for the Year Ended 31 August 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ciel Ventures Ltd for the year ended 31 August 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Ciel Ventures Ltd, as a body, in accordance with the terms of our engagement letter dated 27 August 2021. Our work has been undertaken solely to prepare for your approval the accounts of Ciel Ventures Ltd and state those matters that we have agreed to state to the Board of Directors of Ciel Ventures Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ciel Ventures Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ciel Ventures Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ciel Ventures Ltd. You consider that Ciel Ventures Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ciel Ventures Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Abtax CA Limited
Certified Accountant
The Joiners Shop The Historic Dockyard
Main Gate Road
Chatham
Kent
ME4 4TZ

29 February 2024

 

Ciel Ventures Ltd

(Registration number: 13590557)
Abridged Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

210

420

Current assets

 

Debtors

6

3,565

2,970

Investments

7

11,671

11,671

Cash at bank and in hand

 

128,071

57,968

 

143,307

72,609

Creditors: Amounts falling due within one year

(21,036)

(23,169)

Net current assets

 

122,271

49,440

Net assets

 

122,481

49,860

Capital and reserves

 

Called up share capital

8

100

100

Share premium reserve

(40,000)

(40,000)

Retained earnings

162,381

89,760

Shareholders' funds

 

122,481

49,860

For the financial year ending 31 August 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 29 February 2024
 

.........................................

Dr Angus Prideaux Perry

Director

 

Ciel Ventures Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 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:
Flat 1 Carlane Court
23 Southwood Road
Hayling Island
Hampshire
PO11 9PS
United Kingdom

These financial statements were authorised for issue by the director on 29 February 2024.

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 abridged 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 abridged 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ciel Ventures Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

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

33.33% Straight Line Method

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Ciel Ventures Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

210

210

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

630

630

At 31 August 2023

630

630

Depreciation

At 1 September 2022

210

210

Charge for the year

210

210

At 31 August 2023

420

420

Carrying amount

At 31 August 2023

210

210

At 31 August 2022

420

420

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

7

Current asset investments

2023
£

2022
£

Other investments

11,671

11,671

8

Share capital

Allotted, called up and fully paid shares

 

Ciel Ventures Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

 

2023

2022

 

No.

£

No.

£

ordinary shares of £1 each

100

100

100

100

         

9

Related party transactions

Ciel Ventures Ltd purchase shares in Ciel Investments Ltd

 

Ciel Ventures Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2023

Director's remuneration

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

2023
£

2022
£

Remuneration

15,000

6,250