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REGISTERED NUMBER: 05797790 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Venture Electrical Services Limited

Venture Electrical Services Limited (Registered number: 05797790)

Contents of the Financial Statements
for the Year Ended 30 September 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Venture Electrical Services Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: K P Smith



REGISTERED OFFICE: Unit 4, Space Business Centre
Olympus Park
Quedgeley
Gloucester
Gloucestershire
GL2 4AL



REGISTERED NUMBER: 05797790 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: HSBC Plc
The Cross
Gloucester
GL1 2AP

Venture Electrical Services Limited (Registered number: 05797790)

Statement of Financial Position
30 September 2023

30/9/23 30/9/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,489 3,715

CURRENT ASSETS
Stocks 250 250
Debtors 5 26,832 24,097
Cash at bank 13,863 12,603
40,945 36,950
CREDITORS
Amounts falling due within one year 6 20,517 22,758
NET CURRENT ASSETS 20,428 14,192
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,917

17,907

CREDITORS
Amounts falling due after more than one
year

7

-

(1,268

)

PROVISIONS FOR LIABILITIES (472 ) (705 )
NET ASSETS 22,445 15,934

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 22,245 15,734
SHAREHOLDERS' FUNDS 22,445 15,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Venture Electrical Services Limited (Registered number: 05797790)

Statement of Financial Position - continued
30 September 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 February 2024 and were signed by:





K P Smith - Director


Venture Electrical Services Limited (Registered number: 05797790)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. STATUTORY INFORMATION

Venture Electrical Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 33% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Venture Electrical Services Limited (Registered number: 05797790)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 October 2022
and 30 September 2023 4,683 23,388 5,414 33,485
Depreciation
At 1 October 2022 4,651 20,349 4,770 29,770
Charge for year 11 1,003 212 1,226
At 30 September 2023 4,662 21,352 4,982 30,996
Net book value
At 30 September 2023 21 2,036 432 2,489
At 30 September 2022 32 3,039 644 3,715

Venture Electrical Services Limited (Registered number: 05797790)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
Cost
At 1 October 2022
and 30 September 2023 12,983
Depreciation
At 1 October 2022 10,367
Charge for year 863
At 30 September 2023 11,230
Net book value
At 30 September 2023 1,753
At 30 September 2022 2,616

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/23 30/9/22
£    £   
Trade debtors 22,245 20,250
Other debtors 4,587 3,847
26,832 24,097

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/23 30/9/22
£    £   
Hire purchase contracts 1,268 2,537
Trade creditors 6,020 6,509
Taxation and social security 11,155 11,451
Other creditors 2,074 2,261
20,517 22,758

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/9/23 30/9/22
£    £   
Hire purchase contracts - 1,268

Venture Electrical Services Limited (Registered number: 05797790)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

30/9/23 30/9/22
£    £   
K P Smith
Balance outstanding at start of year - 26,281
Amounts repaid - (26,281 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -