Registered number
08723532
VENTURE COMMERCIAL SERVICES LTD
Filleted Accounts
31 October 2023
VENTURE COMMERCIAL SERVICES LTD
Registered number: 08723532
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 40 40
Current assets
Debtors 4 249,271 249,271
Cash at bank and in hand 500 85
249,771 249,356
Net current assets 249,771 249,356
Total assets less current liabilities 249,811 249,396
Creditors: amounts falling due after more than one year 5 (265,255) (264,780)
Net liabilities (15,444) (15,384)
Capital and reserves
Called up share capital 100 100
Profit and loss account (15,544) (15,484)
Shareholders' funds (15,444) (15,384)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 and delivered 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.
J A Ebrahimi
Director
Approved by the board on 31 July 2024
VENTURE COMMERCIAL SERVICES LTD
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice 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 (which is usually the invoice 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Investments
Other
investments
£
Cost
At 1 November 2022 40
At 31 October 2023 40
4 Debtors 2023 2022
£ £
Other debtors 249,271 249,271
5 Creditors: amounts falling due after one year 2023 2022
£ £
Directors Loan Account 265,215 264,740
Other creditors 40 40
265,255 264,780
6 Controlling party
The company was under the control of the Director Mr J A Ebrahimi during the year under review.
7 Other information
VENTURE COMMERCIAL SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
Raydean House
15 Western Parade
Barnet
Herts
EN5 1AH
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