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COMPANY REGISTRATION NUMBER: 14423590
Scimitar Ventures Limited
Filleted Unaudited Financial Statements
31 October 2023
Scimitar Ventures Limited
Financial Statements
Period from 17 October 2022 to 31 October 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Scimitar Ventures Limited
Statement of Financial Position
31 October 2023
31 Oct 23
Note
£
Current assets
Debtors
5
44,000
Cash at bank and in hand
44,003
--------
88,003
Creditors: amounts falling due within one year
6
93,609
--------
Net current liabilities
5,606
-------
Total assets less current liabilities
( 5,606)
-------
Net liabilities
( 5,606)
-------
Capital and reserves
Called up share capital
100
Profit and loss account
( 5,706)
-------
Shareholders deficit
( 5,606)
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 August 2024 , and are signed on behalf of the board by:
Mr R J Pugsley
Director
Company registration number: 14423590
Scimitar Ventures Limited
Notes to the Financial Statements
Period from 17 October 2022 to 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Berkeley Suite, 35 Berkeley Square, London, W1J 5BF, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
After making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future for at least one year from the date of the financial information. For these reasons they continue to adopt the going concern basis in preparing the company's financial information.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered stated net of discounts.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 .
5. Debtors
31 Oct 23
£
Other debtors
44,000
--------
6. Creditors: amounts falling due within one year
31 Oct 23
£
Other creditors
93,609
--------
7. Directors' advances, credits and guarantees
During the period the Directors were given advances of £5,124 (2022: £Nil) which were repaid before the period end.
8. Related party transactions
At the end of the period the Company owed the Directors £92,109 (2022: £Nil).