Registered Number:12089698 |
For the year ended 31 July 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 July 2023
Vench Creative Ltd
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
Vench Creative Ltd
Statement of Financial Position
2022
2023
-
Cash and cash equivalents |
47,847
47,847
-
Trade and other payables: amounts falling due within one year |
(105,559)
(167,143)
2
(105,559)
(119,296)
Net current liabilities
Total assets less current liabilities |
(119,296)
(105,559)
(119,296)
Net liabilities
(105,559)
2
2
(119,298)
(105,561)
(119,296)
(105,559)
Shareholders' funds
For the year ended 31 July 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 of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each |
financial year and of its profit or loss for each financial year in accordance with the requirements of Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr Richard Peter Greenwood Director |
These financial statements were approved and authorised for issue by the Board on 22 April 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 July 2023
Vench Creative Ltd
Notes to the Financial Statements
Statutory Information
Vench Creative Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number |
12089698. |
Owl Cottage, Fawcett Mill Fields
Tebay
Penrith
Cumbria
CA10 3UB
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard |
102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The |
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets. |
The shareholders have indicated a willingness to continue to support the company for at least the next twelve months. Subject to |
this support, the company will continue as a going concern. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will not be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it |
relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the rates and laws that have been enacted or substantively enacted |
by the Statement of Financial Position date. |
Financial Instruments
Basic financial instruments that are payable or receivable within one year, typically trade creditors and debtors, are measured |
initially and subsequently at the undiscounted amount of the cash or other consideration that is expected to be paid or received |
less impairment losses for bad and doubtful debts. |
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For the year ended 31 July 2023
Vench Creative Ltd
Notes to the Financial Statements Continued
2. Trade and other payables: amounts falling due within one year |
2022
2023
Accruals and deferred income |
720
-
166,423
105,559
167,143
105,559
3. Related party transactions |
During the year, The Company made a loan of $5000 to Stuzzles LLC, a close company. The loan is not expected to be repaid |
and has been written off at the year end. |
During the year, the director loaned the Company £60,864. At the year end the Company owed £166,423 (2022: £105,559) to |
the director. No interest is being charged in respect of this loan. |
4. Average number of persons employed |
During the year the average number of employees was 0
Since the last accounting period, the company has had a change of name from We Are Probiotic Limited to Vench Creative Ltd.
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