Silverfin false false 31/12/2023 28/02/2023 31/12/2023 B Jenner 21/06/2023 28/02/2023 L Jenner 28/02/2023 A R Woolgar 28/02/2023 04 April 2024 The principal activity of the Company during the financial period was the wholesale of air ventilation units and associated products. 14694264 2023-12-31 14694264 bus:Director1 2023-12-31 14694264 bus:Director2 2023-12-31 14694264 bus:Director3 2023-12-31 14694264 core:CurrentFinancialInstruments 2023-12-31 14694264 core:Non-currentFinancialInstruments 2023-12-31 14694264 core:ShareCapital 2023-12-31 14694264 core:RetainedEarningsAccumulatedLosses 2023-12-31 14694264 core:OtherResidualIntangibleAssets 2023-02-27 14694264 2023-02-27 14694264 core:OtherResidualIntangibleAssets 2023-12-31 14694264 core:PlantMachinery 2023-02-27 14694264 core:ComputerEquipment 2023-02-27 14694264 core:PlantMachinery 2023-12-31 14694264 core:ComputerEquipment 2023-12-31 14694264 core:ImmediateParent core:Non-currentFinancialInstruments 2023-12-31 14694264 bus:OrdinaryShareClass1 2023-12-31 14694264 2023-02-28 2023-12-31 14694264 bus:FilletedAccounts 2023-02-28 2023-12-31 14694264 bus:SmallEntities 2023-02-28 2023-12-31 14694264 bus:AuditExemptWithAccountantsReport 2023-02-28 2023-12-31 14694264 bus:PrivateLimitedCompanyLtd 2023-02-28 2023-12-31 14694264 bus:Director1 2023-02-28 2023-12-31 14694264 bus:Director2 2023-02-28 2023-12-31 14694264 bus:Director3 2023-02-28 2023-12-31 14694264 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-02-28 2023-12-31 14694264 core:PlantMachinery core:TopRangeValue 2023-02-28 2023-12-31 14694264 core:ComputerEquipment core:TopRangeValue 2023-02-28 2023-12-31 14694264 core:OtherResidualIntangibleAssets 2023-02-28 2023-12-31 14694264 core:PlantMachinery 2023-02-28 2023-12-31 14694264 core:ComputerEquipment 2023-02-28 2023-12-31 14694264 core:Non-currentFinancialInstruments 2023-02-28 2023-12-31 14694264 bus:OrdinaryShareClass1 2023-02-28 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14694264 (England and Wales)

VENTI GROUP LIMITED

Unaudited Financial Statements
For the financial period from 28 February 2023 to 31 December 2023
Pages for filing with the registrar

VENTI GROUP LIMITED

Unaudited Financial Statements

For the financial period from 28 February 2023 to 31 December 2023

Contents

VENTI GROUP LIMITED

COMPANY INFORMATION

For the financial period from 28 February 2023 to 31 December 2023
VENTI GROUP LIMITED

COMPANY INFORMATION (continued)

For the financial period from 28 February 2023 to 31 December 2023
DIRECTORS B Jenner (Appointed 28 February 2023, Resigned 21 June 2023)
L Jenner (Appointed 28 February 2023)
A R Woolgar (Appointed 28 February 2023)
REGISTERED OFFICE Global House 3 Bojea Industrial Estate
Trethowel
St. Austell
PL25 5RJ
United Kingdom
COMPANY NUMBER 14694264 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
VENTI GROUP LIMITED

BALANCE SHEET

As at 31 December 2023
VENTI GROUP LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 31.12.2023
£
Fixed assets
Intangible assets 3 2,417
Tangible assets 4 461
2,878
Current assets
Stocks 10,513
Debtors 5 12,024
Cash at bank and in hand 52,588
75,125
Creditors: amounts falling due within one year 6 ( 16,502)
Net current assets 58,623
Total assets less current liabilities 61,501
Creditors: amounts falling due after more than one year 7 ( 227,585)
Net liabilities ( 166,084)
Capital and reserves
Called-up share capital 8 100
Profit and loss account ( 166,184 )
Total shareholders' deficit ( 166,084)

For the financial period ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Venti Group Limited (registered number: 14694264) were approved and authorised for issue by the Board of Directors on 04 April 2024. They were signed on its behalf by:

L Jenner
Director
VENTI GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 28 February 2023 to 31 December 2023
VENTI GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 28 February 2023 to 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Venti Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Global House 3 Bojea Industrial Estate, Trethowel, St. Austell, PL25 5RJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £166,084. The Company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the wholesale of air ventilation units and associated products. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
28.02.2023 to
31.12.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 28 February 2023 0 0
Additions 2,750 2,750
At 31 December 2023 2,750 2,750
Accumulated amortisation
At 28 February 2023 0 0
Charge for the financial period 333 333
At 31 December 2023 333 333
Net book value
At 31 December 2023 2,417 2,417

4. Tangible assets

Plant and machinery Computer equipment Total
£ £ £
Cost
At 28 February 2023 0 0 0
Additions 465 168 633
At 31 December 2023 465 168 633
Accumulated depreciation
At 28 February 2023 0 0 0
Charge for the financial period 116 56 172
At 31 December 2023 116 56 172
Net book value
At 31 December 2023 349 112 461

5. Debtors

31.12.2023
£
Trade debtors 7,202
Amounts owed by directors 2,950
Prepayments 1,335
Other debtors 537
12,024

6. Creditors: amounts falling due within one year

31.12.2023
£
Trade creditors 100
Accruals and deferred income 4,461
Other taxation and social security 11,941
16,502

7. Creditors: amounts falling due after more than one year

31.12.2023
£
Amounts owed to Parent undertakings 227,585

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

31.12.2023
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

9. Related party transactions

Transactions with the entity's directors

31.12.2023
£
Interest free loan to A R Woolgar 2,950

Advances

An advance for A R Woolgar was made to the director on 4 April 2023 for £2,950 (at interest rate of 0.00%), the conditions are that of an interest free loan repayable on demand.

10. Ultimate controlling party

Parent Company:

Future-form Holding Ltd
Tre Wyn
Treverbyn Road
St. Austell
Cornwall
United Kingdom
PL25 4EW