Ventures Advisory Limited |
Registered number: |
09470828 |
Statement of Financial Position |
as at 31 March 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
5 |
|
|
1,350,000 |
|
|
1,450,000 |
|
Current assets |
Debtors |
6 |
|
158,838 |
|
|
187,004 |
Cash at bank and in hand |
|
|
28,010 |
|
|
17,362 |
|
|
|
186,848 |
|
|
204,366 |
|
Creditors: amounts falling due within one year |
7 |
|
(391,077) |
|
|
(388,347) |
|
Net current liabilities |
|
|
|
(204,229) |
|
|
(183,981) |
|
Total assets less current liabilities |
|
|
|
1,145,771 |
|
|
1,266,019 |
|
Creditors: amounts falling due after more than one year |
8 |
|
|
(927,075) |
|
|
(943,382) |
|
Provisions for liabilities |
|
|
|
(72,863) |
|
|
(72,863) |
|
|
Net assets |
|
|
|
145,833 |
|
|
249,774 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Fair value reserve |
10 |
|
|
210,626 |
|
|
310,626 |
Profit and loss account |
|
|
|
(64,893) |
|
|
(60,952) |
|
Shareholder's funds |
|
|
|
145,833 |
|
|
249,774 |
|
|
|
|
|
|
|
|
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 accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Mr F Ahmed |
Director |
Approved by the board on 24 April 2024 |
|
Ventures Advisory Limited |
Notes to the Accounts |
for the year ended 31 March 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from property rental. Turnover from the rental is recognised by reference to the stage of completion of the tenancy. |
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Investment property |
|
Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold. |
|
2 |
Exceptional items |
2023 |
|
2022 |
£ |
£ |
|
|
Value adjustments on fixed assets and current asset investments |
100,000 |
|
- |
|
Intercompany loan write off |
32,600 |
|
- |
|
|
|
|
|
|
132,600 |
|
- |
|
|
|
|
|
|
|
|
|
|
3 |
Employees and directors |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of directors and persons employed by the company |
|
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
4 |
Government grants |
|
The company received a business interruption payment relating to interest payable on a bounce back loan taken out in the period. The grant is shown in the the profit and loss in the period in which the related interest was incurred. |
|
|
|
|
|
|
|
2023 |
|
2022 |
£ |
£ |
|
|
Business interruption payments |
- |
|
307 |
|
|
|
|
|
|
|
|
|
|
5 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
At 1 April 2022 |
1,450,000 |
|
Fair value movements |
(100,000) |
|
At 31 March 2023 |
1,350,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2023 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2023 |
1,350,000 |
|
At 31 March 2022 |
1,450,000 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2023 |
|
2022 |
£ |
£ |
|
Historical cost |
1,066,511 |
|
1,066,511 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
1,066,511 |
|
1,066,511 |
|
|
|
|
|
|
|
|
|
|
|
6 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Prepayments |
2,691 |
|
2,257 |
|
Other debtors |
156,147 |
|
184,747 |
|
|
|
|
|
|
158,838 |
|
187,004 |
|
|
|
|
|
|
|
|
|
Restated |
7 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
27,470 |
|
28,568 |
|
Trade creditors |
5,449 |
|
8,969 |
|
Accruals |
11,053 |
|
7,258 |
|
Other creditors |
347,105 |
|
343,552 |
|
|
|
|
|
|
391,077 |
|
388,347 |
|
|
|
|
|
|
|
|
|
|
8 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans |
927,075 |
|
943,382 |
|
|
|
|
|
|
|
|
|
|
9 |
Loans |
2023 |
|
2022 |
£ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
906,250 |
|
924,375 |
|
|
|
|
|
|
|
|
|
|
The loan from QIB (UK) PLC contains and fixed charge over the investment property and a floating charge over all property or undertaking of the company. |
|
|
10 |
Fair value reserve |
2023 |
|
2022 |
£ |
£ |
|
|
At 1 April 2022 |
310,626 |
|
310,626 |
|
Loss on revaluation of land and buildings |
(100,000) |
|
- |
|
|
At 31 March 2023 |
210,626 |
|
310,626 |
|
|
|
|
|
|
|
|
|
|
11 |
Prior year adjustment |
|
|
The comparative figures have been restated to incorporate the impact of a misclassification of intercompany balances as sales. The change has resulted in profits available for distribution at 31 March 2022 decreasing by £3,700. |
|
|
Summary of the prior year accounting impact: |
|
|
|
|
|
|
|
|
£ |
|
Increase in other creditors |
|
|
|
|
|
|
3,700 |
|
Decrease in profit and loss account |
|
|
|
|
|
(3,700) |
|
|
12 |
Related party transactions |
2023 |
|
2022 |
£ |
£ |
|
Skopecourt Inc |
|
BVI company owned by Mr F Ahmed. |
|
Amount due from (to) the related party |
153,747 |
|
153,747 |
|
|
Open Sky Construction Ltd |
|
UK company owned by Mr F Ahmed. |
|
Amount due from (to) the related party |
- |
|
30,600 |
|
|
105 Water Gardens Ltd |
|
UK company owned by Mr F Ahmed. |
|
Amount due from (to) the related party |
(3,200) |
|
(3,200) |
|
|
75 Raynham Ltd |
|
UK company owned by Mr F Ahmed. |
|
Amount due from (to) the related party |
(14,900) |
|
(14,900) |
|
|
146 Water Gardens Ltd |
|
UK company owned by Mr F Ahmed. |
|
Amount due from (to) the related party |
(2,383) |
|
(2,383) |
|
|
4 Abinger Mews Ltd |
|
UK company owned by Mr F Ahmed. |
|
Amount due from (to) the related party |
- |
|
(2,640) |
|
|
225 Quadrangle Towers Ltd |
|
UK company owned by Mr F Ahmed. |
|
Amount due from (to) the related party |
(2,950) |
|
(2,950) |
|
|
62 Paddington Exchange Ltd |
|
UK company owned by Mr F Ahmed. |
|
Amount due from (to) the related party |
(4,854) |
|
(4,854) |
|
|
|
13 |
Other information |
|
|
Ventures Advisory Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
269 Farnborough Road |
|
Farnborough |
|
Hampshire |
|
GU14 7LY |