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Registered number: 13142541
Venturo Adventure Machines Ltd
Unaudited Financial Statements
For the Period 1 February 2023 to 30 November 2023
Godfrey Wilson Limited
Fifth Floor Mariner House
62 Prince Street
Bristol
BS1 4QD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13142541
30 November 2023 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 61 123
61 123
CURRENT ASSETS
Stocks 5 13,912 21,043
Debtors 6 5,914 7,036
Cash at bank and in hand 254 802
20,080 28,881
Creditors: Amounts Falling Due Within One Year 7 (38,289 ) (51,637 )
NET CURRENT ASSETS (LIABILITIES) (18,209 ) (22,756 )
TOTAL ASSETS LESS CURRENT LIABILITIES (18,148 ) (22,633 )
NET LIABILITIES (18,148 ) (22,633 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (18,149 ) (22,634 )
SHAREHOLDERS' FUNDS (18,148) (22,633)
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For the period ending 30 November 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
Tom Morgan
Director
23/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Venturo Adventure Machines Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13142541 . The registered office is Lytchett House 13 Freeland Park, Wareham Road, Poole, Dorset, BH16 6FA.
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 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Computer Equipment 4 years straight line
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.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL (2023: NIL)
- -
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4. Tangible Assets
Computer Equipment
£
Cost
As at 1 February 2023 246
As at 30 November 2023 246
Depreciation
As at 1 February 2023 123
Provided during the period 62
As at 30 November 2023 185
Net Book Value
As at 30 November 2023 61
As at 1 February 2023 123
5. Stocks
30 November 2023 31 January 2023
£ £
Stock 13,912 21,043
6. Debtors
30 November 2023 31 January 2023
£ £
Due within one year
Other debtors 5,914 3,000
Corporation tax recoverable assets - 4,036
5,914 7,036
7. Creditors: Amounts Falling Due Within One Year
30 November 2023 31 January 2023
£ £
Other creditors 1,080 22,390
Accruals 5,736 4,356
Amounts owed to group undertakings 31,473 24,891
38,289 51,637
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8. Share Capital
30 November 2023 31 January 2023
£ £
Allotted, Called up and fully paid 1 1
9. Related Party Transactions
Included within amounts owed by group undertakings are the following:
£31,473 (2022 - £24,891) owed to The League of Adventurists International Limited (a company owned 100% by Tom Morgan, Jenny Hunter, Simon Walker and Daniel Wedgwood).
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