Ventures Advisory Limited
Registered number: 09470828
Statement of Financial Position
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 5 1,350,000 1,450,000
Current assets
Debtors 6 158,838 187,004
Cash at bank and in hand 28,010 17,362
186,848 204,366
Creditors: amounts falling due within one year 7 (391,077) (388,347)
Net current liabilities (204,229) (183,981)
Total assets less current liabilities 1,145,771 1,266,019
Creditors: amounts falling due after more than one year 8 (927,075) (943,382)
Provisions for liabilities (72,863) (72,863)
Net assets 145,833 249,774
Capital and reserves
Called up share capital 100 100
Fair value reserve 10 210,626 310,626
Profit and loss account (64,893) (60,952)
Shareholder's funds 145,833 249,774
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr F Ahmed
Director
Approved by the board on 24 April 2024
Ventures Advisory Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from property rental. Turnover from the rental is recognised by reference to the stage of completion of the tenancy.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Investment property
Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.
2 Exceptional items 2023 2022
£ £
Value adjustments on fixed assets and current asset investments 100,000 -
Intercompany loan write off 32,600 -
132,600 -
3 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 1 1
4 Government grants
The company received a business interruption payment relating to interest payable on a bounce back loan taken out in the period. The grant is shown in the the profit and loss in the period in which the related interest was incurred.
2023 2022
£ £
Business interruption payments - 307
5 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2022 1,450,000
Fair value movements (100,000)
At 31 March 2023 1,350,000
Depreciation
At 31 March 2023 -
Net book value
At 31 March 2023 1,350,000
At 31 March 2022 1,450,000
Freehold land and buildings: 2023 2022
£ £
Historical cost 1,066,511 1,066,511
Cumulative depreciation based on historical cost - -
1,066,511 1,066,511
6 Debtors 2023 2022
£ £
Prepayments 2,691 2,257
Other debtors 156,147 184,747
158,838 187,004
Restated
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 27,470 28,568
Trade creditors 5,449 8,969
Accruals 11,053 7,258
Other creditors 347,105 343,552
391,077 388,347
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 927,075 943,382
9 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 906,250 924,375
The loan from QIB (UK) PLC contains and fixed charge over the investment property and a floating charge over all property or undertaking of the company.
10 Fair value reserve 2023 2022
£ £
At 1 April 2022 310,626 310,626
Loss on revaluation of land and buildings (100,000) -
At 31 March 2023 210,626 310,626
11 Prior year adjustment
The comparative figures have been restated to incorporate the impact of a misclassification of intercompany balances as sales. The change has resulted in profits available for distribution at 31 March 2022 decreasing by £3,700.
Summary of the prior year accounting impact:
£
Increase in other creditors 3,700
Decrease in profit and loss account (3,700)
12 Related party transactions 2023 2022
£ £
Skopecourt Inc
BVI company owned by Mr F Ahmed.
Amount due from (to) the related party 153,747 153,747
Open Sky Construction Ltd
UK company owned by Mr F Ahmed.
Amount due from (to) the related party - 30,600
105 Water Gardens Ltd
UK company owned by Mr F Ahmed.
Amount due from (to) the related party (3,200) (3,200)
75 Raynham Ltd
UK company owned by Mr F Ahmed.
Amount due from (to) the related party (14,900) (14,900)
146 Water Gardens Ltd
UK company owned by Mr F Ahmed.
Amount due from (to) the related party (2,383) (2,383)
4 Abinger Mews Ltd
UK company owned by Mr F Ahmed.
Amount due from (to) the related party - (2,640)
225 Quadrangle Towers Ltd
UK company owned by Mr F Ahmed.
Amount due from (to) the related party (2,950) (2,950)
62 Paddington Exchange Ltd
UK company owned by Mr F Ahmed.
Amount due from (to) the related party (4,854) (4,854)
13 Other information
Ventures Advisory Limited is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
Ventures Advisory Limited 09470828 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2024 Mr F Ahmed No description of principal activity 09470828 2021-04-01 2022-03-31 09470828 core:RevaluationReserve core:LandBuildings 2021-04-01 2022-03-31 09470828 core:WithinOneYear 2022-03-31 09470828 core:AfterOneYear 2022-03-31 09470828 core:ShareCapital 2022-03-31 09470828 core:OtherReservesSubtotal 2022-03-31 09470828 core:RetainedEarningsAccumulatedLosses 2022-03-31 09470828 core:RevaluationReserve 2021-03-31 09470828 2022-04-01 2023-03-31 09470828 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09470828 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09470828 bus:Director40 2022-04-01 2023-03-31 09470828 1 2022-04-01 2023-03-31 09470828 2 2022-04-01 2023-03-31 09470828 core:LandBuildings 2022-04-01 2023-03-31 09470828 core:RevaluationReserve core:LandBuildings 2022-04-01 2023-03-31 09470828 countries:England 2022-04-01 2023-03-31 09470828 bus:FRS102 2022-04-01 2023-03-31 09470828 bus:FilletedAccounts 2022-04-01 2023-03-31 09470828 2023-03-31 09470828 core:WithinOneYear 2023-03-31 09470828 core:AfterOneYear 2023-03-31 09470828 core:ShareCapital 2023-03-31 09470828 core:OtherReservesSubtotal 2023-03-31 09470828 core:RetainedEarningsAccumulatedLosses 2023-03-31 09470828 core:LandBuildings 2023-03-31 09470828 core:RevaluationReserve 2023-03-31 09470828 2022-03-31 09470828 core:LandBuildings 2022-03-31 09470828 core:RevaluationReserve 2022-03-31 iso4217:GBP xbrli:pure