Registered number
08589723
EDG Ventures and Management Consultancy Ltd
Filleted Accounts
30 June 2023
EDG Ventures and Management Consultancy Ltd
Registered number: 08589723
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 167 328,063
Investments 4 10,118 10,118
10,285 338,181
Current assets
Debtors 5 14,804 -
Cash at bank and in hand 555,423 243,193
570,227 243,193
Creditors: amounts falling due within one year 6 (352,353) (257,718)
Net current assets/(liabilities) 217,874 (14,525)
Total assets less current liabilities 228,159 323,656
Creditors: amounts falling due after more than one year 7 - (190,000)
Provisions for liabilities - (13,440)
Net assets 228,159 120,216
Capital and reserves
Called up share capital 100 100
Profit and loss account 228,059 120,116
Shareholder's funds 228,159 120,216
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Rafael Curado-Molini Alvarez
Director
Approved by the board on 29 February 2024
EDG Ventures and Management Consultancy Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Buildings No Depreciation
Plant and machinery 25% Reducing Balance
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2022 321,899 51,723 373,622
Surplus on revaluation (70,736) - (70,736)
Disposals (251,163) (49,568) (300,731)
At 30 June 2023 - 2,155 2,155
Depreciation
At 1 July 2022 - 45,559 45,559
Charge for the year - 551 551
On disposals - (44,122) (44,122)
At 30 June 2023 - 1,988 1,988
Net book value
At 30 June 2023 - 167 167
At 30 June 2022 321,899 6,164 328,063
4 Investments
Other
investments
£
Cost
At 1 July 2022 10,118
At 30 June 2023 10,118
5 Debtors 2023 2022
£ £
Spanish withholding tax 14,804 -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Accrued income - 9,898
Accruals 516 -
Director's loan 339,919 247,820
Taxation and social security costs 11,918 -
352,353 257,718
7 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors - 190,000
8 Controlling party
The Director, Rafael Curado-Molini Alvarez, controls the company by virtue of his shareholding and Directorship.
9 Other information
EDG Ventures and Management Consultancy Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Birchin Court
20 Birchin Lane
London
EC3V 9DU
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