Registered number
11945035
Ventol Maintenance Limited
Filleted Accounts
30 June 2023
Ventol Maintenance Limited
Registered number: 11945035
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 797 -
Current assets
Stocks 73,400 40,070
Debtors 4 122,728 103,668
Cash at bank and in hand 9,390 64,612
205,518 208,350
Creditors: amounts falling due within one year 5 (141,559) (178,175)
Net current assets 63,959 30,175
Net assets 64,756 30,175
Capital and reserves
Called up share capital 100 100
Profit and loss account 64,656 30,075
Shareholders' funds 64,756 30,175
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
E Mordue
Director
Approved by the board on 22 February 2024
Ventol Maintenance Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 6
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 890
At 30 June 2023 890
Depreciation
Charge for the year 93
At 30 June 2023 93
Net book value
At 30 June 2023 797
4 Debtors 2023 2022
£ £
Trade debtors 121,960 99,594
Other debtors 768 4,074
122,728 103,668
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 67,083 158,438
Taxation and social security costs 29,976 19,737
Other creditors 44,500 -
141,559 178,175
6 Related party transactions
Velway Limited
A company controlled by a common director
As at 30th June the company was owed a net of £ from the above company 5,908
Ventol Limited
A company controlled by a common director
As at 30th June the company owed a net of £ to the above company 62,754
R J Stearn Limited
A company ultimately controlled by a common director
As at 30th June the company was owed a net of £ from the above company 46,912
7 Other information
Ventol Maintenance Limited is a private company limited by shares and incorporated in England. Its registered office is:
102 Tettenhall Road
Wolverhampton
WV6 0BW
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