BrightAccountsProduction v1.0.0 v1.0.0 2022-10-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is management consultancy services and other related services 31 January 2024 4 4 NI655602 2023-09-30 NI655602 2022-09-30 NI655602 2021-09-30 NI655602 2022-10-01 2023-09-30 NI655602 2021-10-01 2022-09-30 NI655602 uk-bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 NI655602 uk-curr:PoundSterling 2022-10-01 2023-09-30 NI655602 uk-bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 NI655602 uk-bus:FullAccounts 2022-10-01 2023-09-30 NI655602 uk-core:ShareCapital 2023-09-30 NI655602 uk-core:ShareCapital 2022-09-30 NI655602 uk-core:SharePremium 2023-09-30 NI655602 uk-core:SharePremium 2022-09-30 NI655602 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 NI655602 uk-core:RetainedEarningsAccumulatedLosses 2022-09-30 NI655602 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-09-30 NI655602 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-09-30 NI655602 uk-bus:FRS102 2022-10-01 2023-09-30 NI655602 uk-core:Goodwill 2022-10-01 2023-09-30 NI655602 uk-core:PlantMachinery 2022-10-01 2023-09-30 NI655602 uk-core:MotorVehicles 2022-10-01 2023-09-30 NI655602 uk-core:Goodwill 2022-09-30 NI655602 uk-core:Goodwill 2023-09-30 NI655602 uk-core:CurrentFinancialInstruments 2023-09-30 NI655602 uk-core:CurrentFinancialInstruments 2022-09-30 NI655602 uk-core:WithinOneYear 2023-09-30 NI655602 uk-core:WithinOneYear 2022-09-30 NI655602 uk-core:WithinOneYear 2023-09-30 NI655602 uk-core:WithinOneYear 2022-09-30 NI655602 uk-core:AfterOneYear 2023-09-30 NI655602 uk-core:AfterOneYear 2022-09-30 NI655602 uk-core:BetweenOneTwoYears 2023-09-30 NI655602 uk-core:BetweenOneTwoYears 2022-09-30 NI655602 uk-core:BetweenTwoFiveYears 2023-09-30 NI655602 uk-core:BetweenTwoFiveYears 2022-09-30 NI655602 uk-core:MoreThanFiveYears 2023-09-30 NI655602 uk-core:MoreThanFiveYears 2022-09-30 NI655602 uk-core:EmployeeBenefits 2022-09-30 NI655602 uk-core:EmployeeBenefits 2022-10-01 2023-09-30 NI655602 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-09-30 NI655602 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-09-30 NI655602 uk-core:OtherDeferredTax 2023-09-30 NI655602 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-09-30 NI655602 uk-core:EmployeeBenefits 2023-09-30 NI655602 2022-10-01 2023-09-30 NI655602 uk-bus:Director1 2022-10-01 2023-09-30 NI655602 uk-bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
Company Registration Number: NI655602
 
 
Venture International Ltd
 
Unaudited Financial Statements
 
for the financial year ended 30 September 2023
Venture International Ltd
Company Registration Number: NI655602
BALANCE SHEET
as at 30 September 2023

2023 2022
Notes £ £
 
Fixed Assets
Intangible assets 4 63,730 66,916
Tangible assets 5 20,555 28,850
───────── ─────────
84,285 95,766
───────── ─────────
 
Current Assets
Debtors 6 30,069 11,537
Cash and cash equivalents 8,778 10,652
───────── ─────────
38,847 22,189
───────── ─────────
Creditors: amounts falling due within one year 7 (44,113) (34,927)
───────── ─────────
Net Current Liabilities (5,266) (12,738)
───────── ─────────
Total Assets less Current Liabilities 79,019 83,028
 
Creditors:
amounts falling due after more than one year 8 (36,787) (43,410)
 
Provisions for liabilities 9 (610) (5,481)
───────── ─────────
Net Assets 41,622 34,137
═════════ ═════════
 
Capital and Reserves
Called up share capital 20 20
Share premium account 10 5,055 5,055
Retained earnings 36,547 29,062
───────── ─────────
Equity attributable to owners of the company 41,622 34,137
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 31 January 2024
           
           
________________________________          
John O'Neill          
Director          
           



Venture International Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 September 2023

   
1. General Information
 
Venture International Ltd is a company limited by shares incorporated in Northern Ireland. Unit 14 Torrent Valley Business park, Donaghmore, Co Tyrone, BT70 3BF, Northern Ireland is the registered office, which is also the principal place of business of the company. The principal activity of the company is management consultancy services and other related services The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 September 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 25 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 25% Straight line
  Motor vehicles - 25% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 4, (2022 - 4).
 
  2023 2022
  Number Number
 
Employees 4 4
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 October 2022 79,660 79,660
  ───────── ─────────
 
At 30 September 2023 79,660 79,660
  ───────── ─────────
Amortisation
At 1 October 2022 12,744 12,744
Charge for financial year 3,186 3,186
  ───────── ─────────
At 30 September 2023 15,930 15,930
  ───────── ─────────
Net book value
At 30 September 2023 63,730 63,730
  ═════════ ═════════
At 30 September 2022 66,916 66,916
  ═════════ ═════════
         
5. Tangible assets
  Plant and Motor Total
  machinery vehicles  
       
  £ £ £
Cost
At 1 October 2022 19,663 27,000 46,663
Additions 2,187 - 2,187
  ───────── ───────── ─────────
At 30 September 2023 21,850 27,000 48,850
  ───────── ───────── ─────────
Depreciation
At 1 October 2022 11,063 6,750 17,813
Charge for the financial year 5,419 5,063 10,482
  ───────── ───────── ─────────
At 30 September 2023 16,482 11,813 28,295
  ───────── ───────── ─────────
Net book value
At 30 September 2023 5,368 15,187 20,555
  ═════════ ═════════ ═════════
At 30 September 2022 8,600 20,250 28,850
  ═════════ ═════════ ═════════
       
6. Debtors 2023 2022
  £ £
 
Trade debtors 26,355 7,089
Other debtors 3,714 4,448
  ───────── ─────────
  30,069 11,537
  ═════════ ═════════
       
7. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank overdrafts 1,994 1,388
Bank loan 5,219 6,208
Trade creditors 25 12,025
Taxation 18,563 13,163
Other creditors 16,169 -
Accruals:
Pension accrual 143 143
Other accruals 2,000 2,000
  ───────── ─────────
  44,113 34,927
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank Loan 36,744 40,845
Director's loan accounts 43 2,565
  ───────── ─────────
  36,787 43,410
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 7,213 7,596
Repayable between one and two years 5,351 12,417
Repayable between two and five years 16,878 28,428
Repayable in five years or more 14,515 -
  ───────── ─────────
  43,957 48,441
  ═════════ ═════════
 
         
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2023 2022
  £ £ £
 
At financial year start 5,481 5,481 2,622
Charged to profit and loss (4,871) (4,871) 2,859
  ───────── ───────── ─────────
At financial year end 610 610 5,481
  ═════════ ═════════ ═════════
   
10. Reserves
 
Share Premium Reserve
 
The amount carried forward is the premium that arose from the issue of shares in 2018.
 
           
11. Related party transactions
 
At the start of the year, Venture International Ltd owed £2,565 to the director. During the year the company borrowed £46,836 from the director and repaid £49,358 to the director leaving a closing balance of £43 (2022: £2,565) due to the director at the year end. This is included in the creditors section of the balance sheet.