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Registered number: 06561799
Ventura Developments Limited
Financial Statements
For The Year Ended 31 October 2023
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06561799
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 82,788 90,935
82,788 90,935
CURRENT ASSETS
Stocks 5 511,431 355,054
Debtors 6 42,482 6,697
Cash at bank and in hand 48,983 281,770
602,896 643,521
Creditors: Amounts Falling Due Within One Year 7 (573,827 ) (570,140 )
NET CURRENT ASSETS (LIABILITIES) 29,069 73,381
TOTAL ASSETS LESS CURRENT LIABILITIES 111,857 164,316
Creditors: Amounts Falling Due After More Than One Year 8 (27,070 ) (37,429 )
NET ASSETS 84,787 126,887
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 84,785 126,885
SHAREHOLDERS' FUNDS 84,787 126,887
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A G Kennerley
Director
29th July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Ventura Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06561799 . The registered office is 6 Sundorne, Overton on Dee, Wrexham, LL13 0EB. The financial statements are presented in the company's presentation currency of GBP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10-25% reducing balance basis
Motor Vehicles 25% reducing balance basis
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 November 2022 212,453 45,340 257,793
Additions 77 - 77
As at 31 October 2023 212,530 45,340 257,870
Depreciation
As at 1 November 2022 123,499 43,359 166,858
Provided during the period 7,729 495 8,224
As at 31 October 2023 131,228 43,854 175,082
Net Book Value
As at 31 October 2023 81,302 1,486 82,788
As at 1 November 2022 88,954 1,981 90,935
5. Stocks
2023 2022
£ £
Work in progress 511,431 355,054
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 42,482 6,697
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 199,371 192,459
Bank loans and overdrafts 5,000 5,000
Other creditors 334,485 338,185
Taxation and social security 34,971 34,496
573,827 570,140
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 27,070 37,429
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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