REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2023 |
for |
Venidium Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 November 2023 |
for |
Venidium Limited |
Venidium Limited (Registered number: SC225208) |
Contents of the Financial Statements |
for the Year Ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Venidium Limited |
Company Information |
for the Year Ended 30 November 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants |
Glebefield House |
21 Links Terrace |
Peterhead |
Aberdeenshire |
AB42 2XA |
Venidium Limited (Registered number: SC225208) |
Balance Sheet |
30 November 2023 |
30.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserve | 9 |
Retained earnings | 9 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Venidium Limited (Registered number: SC225208) |
Balance Sheet - continued |
30 November 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Venidium Limited (Registered number: SC225208) |
Notes to the Financial Statements |
for the Year Ended 30 November 2023 |
1. | STATUTORY INFORMATION |
Venidium Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
At 30 November 2023, the company's net current liabilities exceeded it's net current assets and there is a deficit on reserves of £82,777 The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption is based upon the continued support of the directors and shareholders. |
Turnover |
Turnover represents amounts receivable for services and goods provided in the normal course of business, net of discounts and VAT. Revenue is recognised to the extent that it is probable that economic benefit will flow to the company and when its value can be measured with a sufficient degree of certainty and reliability. All income is recognised in the accounting period to which it relates. |
Tangible fixed assets |
Furnishings and equipment | - |
Computer equipment | - |
Tangible fixed assets are included at cost or valuation less depreciation and impairment. The residual value is reassessed at the end of each accounting period. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Venidium Limited (Registered number: SC225208) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
4. | TANGIBLE FIXED ASSETS |
Furnishings |
Freehold | and | Computer |
property | equipment | equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 December 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
Freehold property is included at the fair value provided by the directors at 30 November 2023. |
Cost or valuation at 30 November 2023 is represented by: |
Furnishings |
Freehold | and | Computer |
property | equipment | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2020 | 184,000 | - | - | 184,000 |
Valuation in 2022 | (66,411 | ) | - | - | (66,411 | ) |
Cost | 117,411 | 75,676 | 579 | 193,666 |
235,000 | 75,676 | 579 | 311,255 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Other debtors |
Prepayments |
Venidium Limited (Registered number: SC225208) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Social security and other taxes |
VAT | 6,815 | 4,148 |
Other creditors |
Directors' current accounts | 120,068 | 101,632 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 30.11.22 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.23 | 30.11.22 |
£ | £ |
Bank overdrafts |
Bank loans |
Bank borrowings are secured by means of a standard security over the company's property and a bond and charge over all property and assets. |
9. | RESERVES |
Retained | Other |
earnings | reserve | Totals |
£ | £ | £ |
At 1 December 2022 | ( |
) | 78,110 |
Deficit for the year | ( |
) | ( |
) |
At 30 November 2023 | ( |
) | 34,812 |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |