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Venture Elements Ltd
Registered Number:11559989
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2023
Venture Elements Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
11559989
As at 31 March 2023
Venture Elements Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
7,941
7,061
2
7,941
7,061
Current assets
Trade and other receivables
-
2,077
3
900
Cash and cash equivalents
2,878
4,955
900
Trade and other payables: amounts falling due within one year
(20,388)
(27,579)
4
(19,488)
(22,624)
Net current liabilities
Total assets less current liabilities
(14,683)
(12,427)
(14,683)
Net liabilities
(12,427)
Capital and reserves
Called up share capital
2
2
Retained earnings
(14,685)
(12,429)
(14,683)
(12,427)
Shareholders' funds
For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Matthew Telling Director
These financial statements were approved and authorised for issue by the Board on 14 March 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2023
Venture Elements Ltd
Notes to the Financial Statements
Statutory Information
Venture Elements Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number
11559989.
Registered address:
218 Totley Brook Road
Sheffield
S17 3QY
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
5 years Straight line
33% Reducing balance
Furniture and Fittings
2. Property, plant and equipment
Total
Furniture and
Fittings
Plant and
Machinery
£
£
£
Cost or valuation
At 01 April 2022
13,980
1,069
12,911
5,089
-
5,089
Additions
-
(4,200)
Disposals
(4,200)
At 31 March 2023
13,800
1,069
14,869
Provision for depreciation and impairment
At 01 April 2022
6,919
618
6,301
Charge for year
2,059
149
1,910
(2,050)
-
(2,050)
On disposal
At 31 March 2023
6,928
767
6,161
At 31 March 2023
Net book value
7,639
302
7,941
At 31 March 2022
6,610
451
7,061
The basis of depreciation has been changed in the year to give a more true and fair view of the asset values.
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5
For the year ended 31 March 2023
Venture Elements Ltd
Notes to the Financial Statements Continued
3. Trade and other receivables
2022
2023
£
£
Trade debtors
1,600
-
Other debtors
477
-
-
2,077
4. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Other creditors
27,579
20,388
5. Average number of persons employed
During the year the average number of employees was 1
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