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Company Registration No. 13347253 (England and Wales)
LAN Ventures Ltd Unaudited accounts for the year ended 31 July 2023
LAN Ventures Ltd Unaudited accounts Contents
Page
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LAN Ventures Ltd Company Information for the year ended 31 July 2023
Directors
Leo Nelson Jade Nelson
Company Number
13347253 (England and Wales)
Registered Office
3 Dowling Road Uttoxeter ST14 8WB
Accountants
Victoria Miles Accountants Stafford Education and Enterprise Park Weston Road Stafford Staffordshire ST18 0BF
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of LAN Ventures Ltd for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LAN Ventures Ltd for the year ended 31 July 2023 as set out on pages 5 - 8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Board of Directors of LAN Ventures Ltd, as a body, in accordance with the terms of our engagement letter dated 10 March 2022. Our work has been undertaken solely to prepare for your approval the accounts of LAN Ventures Ltd and state those matters that we have agreed to state to the Board of Directors of LAN Ventures Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LAN Ventures Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that LAN Ventures Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of LAN Ventures Ltd. You consider that LAN Ventures Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of LAN Ventures Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Victoria Miles Accountants Chartered Certified Accountants Stafford Education and Enterprise Park Weston Road Stafford Staffordshire ST18 0BF 22 April 2024
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LAN Ventures Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
2,399 
Investments
102 
102 
102 
2,501 
Current assets
Debtors
3,500 
20,999 
Cash at bank and in hand
12,451 
193 
15,951 
21,192 
Creditors: amounts falling due within one year
(698)
(7,846)
Net current assets
15,253 
13,346 
Total assets less current liabilities
15,355 
15,847 
Provisions for liabilities
Deferred tax
- 
(456)
Net assets
15,355 
15,391 
Capital and reserves
Called up share capital
2 
1 
Profit and loss account
15,353 
15,390 
Shareholders' funds
15,355 
15,391 
For the year ending 31 July 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2024 and were signed on its behalf by
Leo Nelson Director Company Registration No. 13347253
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LAN Ventures Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
LAN Ventures Ltd is a private company, limited by shares, registered in England and Wales, registration number 13347253. The registered office is 3 Dowling Road, Uttoxeter, ST14 8WB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets. The company and its subsidiaries comprise a small group. The company has therefore taken advantage of section 398 of the Companies Act 2006 not to prepare group accounts.
Presentation currency
The accounts are presented in £ sterling.
Investments in subsidiaries
Investments in subsidiaries are recognised at cost..
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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LAN Ventures Ltd Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 August 2022
3,199 
Disposals
(3,199)
At 31 July 2023
- 
Depreciation
At 1 August 2022
800 
On disposals
(800)
At 31 July 2023
- 
Net book value
At 31 July 2023
- 
At 31 July 2022
2,399 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 August 2022
102 
Additions
100 
Disposals
(100)
Valuation at 31 July 2023
102 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Amounts due from group undertakings etc.
3,500 
3,900 
Other debtors
- 
17,099 
3,500 
20,999 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
210 
7,846 
Loans from directors
488 
- 
698 
7,846 
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LAN Ventures Ltd Notes to the Accounts for the year ended 31 July 2023
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
1 Ordinary B shares of £1 each
1 
- 
2 
1 
Shares issued during the period:
1 Ordinary B shares of £1 each
1 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Loan
17,099 
- 
17,099 
- 
17,099 
- 
17,099 
- 
10
Average number of employees
During the year the average number of employees was 2 (2022: 1).
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