Company Registration No. 13347253 (England and Wales)
LAN Ventures Ltd
Unaudited accounts
for the year ended 31 July 2023
LAN Ventures Ltd
Unaudited accounts
Contents
LAN Ventures Ltd
Company Information
for the year ended 31 July 2023
Directors
Leo Nelson
Jade Nelson
Company Number
13347253 (England and Wales)
Registered Office
3 Dowling Road
Uttoxeter
ST14 8WB
Accountants
Victoria Miles Accountants
Stafford Education and Enterprise Park
Weston Road
Stafford
Staffordshire
ST18 0BF
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
LAN Ventures Ltd
for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
LAN Ventures Ltd for the year ended
31 July 2023 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of LAN Ventures Ltd, as a body, in accordance with the terms of our engagement letter dated 10 March 2022. Our work has been undertaken solely to prepare for your approval the accounts of LAN Ventures Ltd and state those matters that we have agreed to state to the Board of Directors of LAN Ventures Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LAN Ventures Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that LAN Ventures Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of LAN Ventures Ltd. You consider that LAN Ventures Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of LAN Ventures Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Victoria Miles Accountants
Chartered Certified Accountants
Stafford Education and Enterprise Park
Weston Road
Stafford
Staffordshire
ST18 0BF
22 April 2024
LAN Ventures Ltd
Statement of financial position
as at 31 July 2023
Cash at bank and in hand
12,451
193
Creditors: amounts falling due within one year
(698)
(7,846)
Net current assets
15,253
13,346
Total assets less current liabilities
15,355
15,847
Provisions for liabilities
Called up share capital
2
1
Profit and loss account
15,353
15,390
Shareholders' funds
15,355
15,391
For the year ending 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 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 22 April 2024 and were signed on its behalf by
Leo Nelson
Director
Company Registration No. 13347253
LAN Ventures Ltd
Notes to the Accounts
for the year ended 31 July 2023
LAN Ventures Ltd is a private company, limited by shares, registered in England and Wales, registration number 13347253. The registered office is 3 Dowling Road, Uttoxeter, ST14 8WB.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The company and its subsidiaries comprise a small group. The company has therefore taken advantage of section 398 of the Companies Act 2006 not to prepare group accounts.
The accounts are presented in £ sterling.
Investments in subsidiaries
Investments in subsidiaries are recognised at cost..
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
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.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
LAN Ventures Ltd
Notes to the Accounts
for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery
5
Investments
Subsidiary undertakings
Valuation at 1 August 2022
102
Valuation at 31 July 2023
102
Amounts falling due within one year
Amounts due from group undertakings etc.
3,500
3,900
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
210
7,846
Loans from directors
488
-
LAN Ventures Ltd
Notes to the Accounts
for the year ended 31 July 2023
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
1 Ordinary B shares of £1 each
1
-
Shares issued during the period:
1 Ordinary B shares of £1 each
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
10
Average number of employees
During the year the average number of employees was 2 (2022: 1).