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Company Registration No. 13496344 (England and Wales)
Runcorn Capital Ventures Ltd Unaudited accounts for the period from 1 August 2022 to 18 April 2023
Runcorn Capital Ventures Ltd Unaudited accounts Contents
Page
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Runcorn Capital Ventures Ltd Company Information for the period from 1 August 2022 to 18 April 2023
Directors
Mr A A Faig Mr Y C Gluck
Company Number
13496344 (England and Wales)
Registered Office
1 Rostrevor Avenue London N15 6LA
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Runcorn Capital Ventures Ltd Statement of financial position as at 18 April 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
11,099,996 
11,099,996 
Debtors
475,402 
497,352 
Cash at bank and in hand
41,362 
49,564 
11,616,760 
11,646,912 
Creditors: amounts falling due within one year
(12,126,078)
(11,737,020)
Net current liabilities
(509,318)
(90,108)
Net liabilities
(509,318)
(90,108)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(509,418)
(90,208)
Shareholders' funds
(509,318)
(90,108)
For the period ending 18 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by
Mr A A Faig Director Company Registration No. 13496344
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Runcorn Capital Ventures Ltd Notes to the Accounts for the period from 1 August 2022 to 18 April 2023
1
Statutory information
Runcorn Capital Ventures Ltd is a private company, limited by shares, registered in England and Wales, registration number 13496344. The registered office is 1 Rostrevor Avenue, London, N15 6LA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The Directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Going concern
Notwithstanding the adverse financial position of the company, the Financial Statements have been prepared in accordance with the accounting principles appropriate to a going concern. This being dependant upon the continued provision of financial support by the company's creditors in respect of which the directors are confident that continued support will be made available or alternative facilities could be obtained.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Runcorn Capital Ventures Ltd Notes to the Accounts for the period from 1 August 2022 to 18 April 2023
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
221,223 
265,959 
Accrued income and prepayments
243,608 
230,222 
Other debtors
10,571 
1,171 
475,402 
497,352 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,946,344 
6,662,000 
VAT
6,781 
- 
Taxes and social security
171,015 
55,698 
Other creditors
6,001,938 
4,923,563 
Accruals
- 
95,759 
12,126,078 
11,737,020 
The bank loan is secured on the company's investment property which is included in inventories. Other creditors include an amount of £876,220 (2022: £229,348) due to companies with a director in common with the company.
6
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
7
Average number of employees
During the period the average number of employees was 2 (2022: 2).
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