Registered number
12129778
ABENED VENTURES LTD
Filleted Abridged Accounts
30 June 2023
ABENED VENTURES LTD
Registered number: 12129778
Abridged Balance Sheet
as at 30 June 2023
Notes 2023 2022
$ $
Fixed assets
Investments 5 2,348 33,277
Current assets
Debtors 6 452,663 63,552
Cash at bank and in hand 30,095 403,574
482,758 467,126
Creditors: amounts falling due within one year (26,764) (51,022)
Net current assets 455,994 416,104
Net assets 458,342 449,381
Capital and reserves
Called up share capital 1 1
Profit and loss account 458,341 449,380
Shareholder's funds 458,342 449,381
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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.
Alexandre Benedetti
Director
Approved by the board on 29 January 2024
ABENED VENTURES LTD
Notes to the Abridged Accounts
for the year ended 30 June 2023
1 Other information
The Company is a private company limited by shares and is registered in England and Wales. The address of the registered office is:
130 Portway
London
E15 3QJ
2 Statement of Compliance
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
3 Accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. The company has adopted FRS 102, Section 1A (Small Entities) in these financial statements. These policies have been consistently applied to all the periods presented, unless otherwise stated.
Basis of preparation
These financial statements are prepared for the period from 1 July 2022 to 30 June 2023. Comparative information is for the period from 1 July 2021 to 30 June 2022.
The abridged financial statements are prepared on a going concern basis, under the historical cost convention.
Group accounts not prepared
The Company was exempt from the requirement to prepare group accounts under section 399 of the Act as it qualifies as small in accordance with section 383 of the Act.
Foreign currency
The Company’s functional and accounts presentation currency is the United States dollar (“USD”). All figures filed are in USD.
Foreign currency transactions are translated into functional currency using the spot exchange rates at the dates of the transaction. At each period end, foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable for services rendered. Revenue is recognised in the accounting period in which the services are rendered.
Current tax
Current tax is recognised on taxable profit for the current period. Current tax is measured at the amount of tax expected to pay using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Fixed Assets
The investment in associates is held at cost less accumulated impairment loss.
Fixed assets are tested for impairment if there is any indication that an asset may be impaired at the balance sheet date. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount if the impairment test indicates that the recoverable amount is less than its carrying amount.
Cash and cash equivalents
Cash and cash equivalents include deposits held at call with banks.
Financial instruments
The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.
a) Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances are recognised at transaction price. Such assets are subsequently carried at amortised cost less impairment.

At the end of each reporting period, financial assets measured at cost or amortised cost are assessed for objective evidence of impairment. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss. All assets that are individually significant are assessed individually for impairment. Other financial assets are either assessed individually or grouped where appropriate.

Any reversals of impairment are recognised in profit or loss immediately to the extent that the reversal does not result in a carrying amount of the financial assets that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
b) Financial liabilities
Basic financial liabilities, including trade and other payables are initially recognised at transaction price.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Trade and other payables are recognised initially at transaction price and subsequently measured at amortised cost.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
c) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Share capital and distributions to equity holders
Ordinary shares are classified as equity. Dividends and other distributions to the company’s shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the company’s shareholders.
4 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
5 Investments
Investments in Other
associates investments Total
$ $ $
Cost
At 1 July 2022 30,000 3,277 33,277
Impairment (30,000) - (30,000)
Unrealised loss (677) (677)
Disposals - (252) (252)
At 30 June 2023 - 2,348 2,348
6 Debtors 2023 2022
$ $
Amounts due after more than one year included in debtors 401,730 -
7 Share capital 2023 2022
Allotted, called up and fully paid shares $ $
Ordinary fully paid shares of GBP1 1 1
1 1
8 Events after the reporting date
The Company has no significant post balance-sheet event to report.
9 Related party transactions
During the year the company has granted a loan ($402,730) to a related party. The loan is interest free and repayable by 2083.
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