REGISTERED NUMBER: |
Strategic Report, |
Report of the Directors and |
Financial Statements |
For The Year Ended 31 March 2023 |
for |
Ventro Ltd |
REGISTERED NUMBER: |
Strategic Report, |
Report of the Directors and |
Financial Statements |
For The Year Ended 31 March 2023 |
for |
Ventro Ltd |
Ventro Ltd (Registered number: 08765695) |
Contents of the Financial Statements |
For The Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 4 |
Statement of Income and Retained Earnings | 7 |
Balance Sheet | 8 |
Cash Flow Statement | 9 |
Notes to the Cash Flow Statement | 10 |
Notes to the Financial Statements | 11 |
Ventro Ltd |
Company Information |
For The Year Ended 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Harscombe House |
1 Darklake View |
Plymouth |
Devon |
PL6 7TL |
Ventro Ltd (Registered number: 08765695) |
Strategic Report |
For The Year Ended 31 March 2023 |
The directors present their strategic report for the year ended 31 March 2023. |
REVIEW OF THE BUSINESS |
During the year the company continued with the delivery of fire safety services. |
The company now employs 141 staff, an increase of 42 from the prior year. Whilst revenue growth of 3% was behind the levels generated in previous years, the directors see the investment in people as key for future expansion. Strategic changes were made during the year that the directors expect to significantly enhance revenue growth and contribution margin in future years. |
Profitability in the year was impacted by inflationary pressures and steps have been taken to mitigate this going forward. In addition, material non-recurring investments were made in business infrastructure as well as the cost of the strategic changes mentioned above. These factors together resulted in a significant reduction in profitability. The directors are confident these impacts are temporary with profitability strengthening going forward and the business upgraded. |
Key performance indicators and other business measures |
Below are shown some key performance indicators for the business |
31 March 2023 | 31 March 2022 |
Turnover | 24,678,355 | 23,933,203 |
Contribution margin* | 8,544,379 | 9,899,182 |
Contribution margin % | 34.6% | 41.4% |
Average number of employees | 141 | 99 |
Net Assets | 4,187,217 | 5,361,605 |
*Contribution margin is calculated as gross profit before management/overhead salaries. |
PRINCIPAL RISKS AND UNCERTAINTIES |
Whilst the sector is robust given the legislative and cultural pressure to ensure that buildings and structures provide both a safe and compliant provision for their occupants, the directors are mindful of current economic pressures. It is therefore ever more important that the company continues to provide excellent value for money thereby mitigating some element of this risk. |
The company continues to build and strengthen relationships with supply chain, along with expanding the supply chain in order to mitigate risks of supply chain shortages as the company continues to grow. |
SUSTAINABILITY |
Ventro continues to take a sustainable approach to all processes, including making a deliberate move towards our goal of having 100% of site waste recycled or disposed of in the most environmentally friendly way. Ventro aims to support and nurture talent including various sponsorship and work experience schemes, and employing local staff to where contracts are situated. Our committal to supporting charitable initiatives has continued which is in addition to the volunteering support such as local environment cleaning activities and supporting local food banks and local charities. |
ON BEHALF OF THE BOARD: |
Ventro Ltd (Registered number: 08765695) |
Report of the Directors |
For The Year Ended 31 March 2023 |
The directors present their report with the financial statements of the company for the year ended 31 March 2023. |
DIVIDENDS |
Interim dividends of £18,271.15 per ordinary A share was paid during the year. The directors recommended that no final dividend be paid. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report. |
Other changes in directors holding office are as follows: |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Bromhead, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Ventro Ltd |
Opinion |
We have audited the financial statements of Ventro Ltd (the 'company') for the year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Report of the Independent Auditors to the Members of |
Ventro Ltd |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. |
We identified the laws and regulations applicable to the company through discussions with directors and other management and from our commercial knowledge. |
We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company including, Companies Act 2006, Health & Safety at Work Act, Employment Law and data protection. |
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence. |
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur by, making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud. Also, considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. |
To address the risk of fraud through management bias and override of controls we performed analytical procedures to identify any unusual or unexpected relationships, tested. journal entries to identify any unusual transaction and assessed whether judgement and estimates were indicative of potential bias.. |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to agreeing financial statement disclosures to underlying supporting documents, reading the minutes of meeting of those charged with governance and enquiring of management as to actual and potential litigation claims. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they may involve deliberate concealment or collusion. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Report of the Independent Auditors to the Members of |
Ventro Ltd |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
Statutory Auditors |
Harscombe House |
1 Darklake View |
Plymouth |
Devon |
PL6 7TL |
Ventro Ltd (Registered number: 08765695) |
Statement of Income and |
Retained Earnings |
For The Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
808,794 | 5,785,790 |
Other operating income |
OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
Tax on profit | 5 |
PROFIT FOR THE FINANCIAL YEAR |
Retained earnings at beginning of year |
Dividends | 6 | ( |
) | ( |
) |
RETAINED EARNINGS AT END OF YEAR |
Ventro Ltd (Registered number: 08765695) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks | 8 |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 12 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Retained earnings | 14 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Ventro Ltd (Registered number: 08765695) |
Cash Flow Statement |
For The Year Ended 31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities | ( |
) |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Intercompany loans issued | - | (464,191 | ) |
Intercompany loans repaid | 1,623,051 | 611,650 |
Amount introduced by directors | 242,652 | - |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) |
(Decrease)/increase in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
2 |
2,490,494 |
Cash and cash equivalents at end of year | 2 | 1,513,199 | 2,595,238 |
Ventro Ltd (Registered number: 08765695) |
Notes to the Cash Flow Statement |
For The Year Ended 31 March 2023 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
31.3.23 | 31.3.22 |
£ | £ |
Profit before taxation |
Depreciation charges |
1,013,071 | 5,921,965 |
Increase in stocks | ( |
) | ( |
) |
Increase in trade and other debtors | ( |
) | ( |
) |
Increase in trade and other creditors |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 31 March 2023 |
31.3.23 | 1.4.22 |
£ | £ |
Cash and cash equivalents | 1,513,199 | 2,595,238 |
Year ended 31 March 2022 |
31.3.22 | 1.4.21 |
£ | £ |
Cash and cash equivalents | 2,595,238 | 2,490,494 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.4.22 | Cash flow | At 31.3.23 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 2,595,238 | (1,082,039 | ) | 1,513,199 |
2,595,238 | ( |
) | 1,513,199 |
Total | 2,595,238 | (1,082,039 | ) | 1,513,199 |
Ventro Ltd (Registered number: 08765695) |
Notes to the Financial Statements |
For The Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Ventro Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
Revenue form the sale of goods, being finished goods, is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on installation of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Income is accrued where the the provision of goods and services to the third party have occurred but the invoicing of which has not been carried out until after the year end. This is reflected as an asset in the balance sheet of the company. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Improvements to property - 20% on cost and 30 years straight line |
Plant and machinery - 25% on cost |
Fixtures and fittings - 25% on cost |
Motor vehicles - 25% on cost |
Office equipment - 25% on cost |
Stocks and work in progress |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of direct materials and, where applicable, labour costs and overheads that have been incurred in bringing the stocks to their present location and condition. |
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential. |
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised in profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
Work in progress is calculated based on the expected profit margins for each contract or project and comparing the amounts invoiced to costs incurred to date. Positive work in progress is shown as an asset and negative work in progress is reflected within other creditors. |
Ventro Ltd (Registered number: 08765695) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
2. | ACCOUNTING POLICIES - continued |
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 tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that 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 be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Accrued expenses |
Expenditure is accrued where the provision of goods and services from a third party have been received but the invoicing of which has not occurred. This is reflected as a creditor in the balance sheet of the company. |
3. | EMPLOYEES AND DIRECTORS |
31.3.23 | 31.3.22 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
31.3.23 | 31.3.22 |
Directors | 3 | 3 |
Direct labour | 83 | 55 |
Direct management | 12 | 9 |
Back office | 43 | 32 |
31.3.23 | 31.3.22 |
£ | £ |
Directors' remuneration |
Ventro Ltd (Registered number: 08765695) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
31.3.23 | 31.3.22 |
£ | £ |
Depreciation - owned assets |
Auditors' remuneration |
5. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
31.3.23 | 31.3.22 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax |
Tax on profit |
UK corporation tax was charged at 19%) in 2022. |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
31.3.23 | 31.3.22 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2022 - |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | ( |
) | ( |
) |
Deferred tax charge |
Total tax charge | 158,779 | 1,117,321 |
6. | DIVIDENDS |
31.3.23 | 31.3.22 |
£ | £ |
A Ordinary shares of £1 each |
Interim |
Ventro Ltd (Registered number: 08765695) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
7. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Motor | Office |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
8. | STOCKS |
31.3.23 | 31.3.22 |
£ | £ |
Stocks |
Work-in-progress |
Ventro Ltd (Registered number: 08765695) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Retentions | 266,555 | 225,468 |
Amounts owed by group undertakings |
Other debtors |
Prepayments and accrued income |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
VAT | 546,166 | 1,076,153 |
Other creditors |
Directors' current accounts | 242,652 | - |
Accruals and deferred income |
11. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.23 | 31.3.22 |
£ | £ |
Within one year |
Between one and five years |
12. | PROVISIONS FOR LIABILITIES |
31.3.23 | 31.3.22 |
£ | £ |
Deferred tax | 104,148 | 54,585 |
Deferred |
tax |
£ |
Balance at 1 April 2022 |
Accelerated capital allowances | 49,563 |
Balance at 31 March 2023 |
Ventro Ltd (Registered number: 08765695) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2023 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.23 | 31.3.22 |
value: | £ | £ |
A Ordinary | £1 | 100 | 100 |
B Ordinary | £1 | 100 | 100 |
C Ordinary | £1 | 100 | 100 |
300 | 300 |
All shares have equal rights to dividends, voting and distributions. |
14. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2022 |
Profit for the year |
Dividends | ( |
) |
At 31 March 2023 |
15. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company, preparing the consolidated group accounts, is Aquilam Group Ltd. This company operates from the same address as Ventro Ltd and is the location where the group consolidated financial statements can be obtained. |