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Registered Number: 14145183
England and Wales

 

 

 


Report of the Directors and Unaudited Financial Statements

for the year ended 31 May 2023

for

ELVERSON VENTURES LTD

 
 
 
£
2023
£
Fixed assets 554,500 
Current assets 100 
Creditors: amount falling due within one year (359)
Net current assets (259)
Total assets less current liabilities 554,241 
Creditors: amount falling due after more than one year (557,547)
Net assets (3,306)
 
Capital and reserves (3,306)
 
  1. For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
  2. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the companies act 2006.
  3. 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 in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Signed on behalf of the board of directors:


----------------------------------
Lee Kim Moffatt
Director

Date approved: 08 April 2024
1
Statutory Information
ELVERSON VENTURES LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number 14145183, registration address Studio B21.3 40 Martell Road, London, SE21 8EN, United Kingdom.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Investment properties
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives.
2.

Tangible fixed assets

Cost or Valuation Freehold property   Total
  £   £
At 31 May 2022  
Additions 554,500    554,500 
Disposals  
At 31 May 2023 554,500    554,500 
Depreciation
At 31 May 2022  
Charge for year  
On disposals  
At 31 May 2023  
Net book values
Closing balance as at 31 May 2023 554,500    554,500 

3.

Average number of employees

Average number of employees during the year was 0 .
2