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Registration number: 10431240

Pembroke Enterprise Ventures Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Pembroke Enterprise Ventures Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Pembroke Enterprise Ventures Limited

(Registration number: 10431240)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

100

2,097

Cash at bank and in hand

 

185

94

 

285

2,191

Creditors: Amounts falling due within one year

5

(1,116)

(2,236)

Total assets less current liabilities

 

(831)

(45)

Provisions for liabilities

-

(66)

Net liabilities

 

(831)

(111)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(931)

(211)

Shareholders' deficit

 

(831)

(111)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 January 2024
 

.........................................
Mr R Llewellyn
Director

 

Pembroke Enterprise Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 1
The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
England and Wales

These financial statements were authorised for issue by the director on 16 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the year end the company had net balance sheet liabilities. The director has pledged ongoing support and as such the financial statements have been prepared on a going concern basis.

 

Pembroke Enterprise Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Pembroke Enterprise Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Debtors

Current

2023
£

2022
£

Other debtors

100

2,097

 

100

2,097

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

-

1,731

Other creditors

1,116

505

1,116

2,236

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

7

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of Nil (2022 - 95.00) per each Ordinary

 

-

 

9,500

         

8

Related party transactions

Other transactions with the director

At the company year-end the company owed the director £532 (2022: the director owed the company £1,998). There are no set repayment terms or any interest being charged.

9

Ultimate controlling party

The ultimate controlling party is Mr R Llewellyn, the sole director of the company..