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REGISTERED NUMBER: 00994910 (England and Wales)















VENUS ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






VENUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00994910)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


VENUS ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: Mr P.N. Mehta
Mrs P.P. Mehta
Mr P. Mehta





SECRETARY: Mrs P.P. Mehta





REGISTERED OFFICE: Second Floor
34 Lime Street
London
EC3M 7AT





REGISTERED NUMBER: 00994910 (England and Wales)





ACCOUNTANTS: Sinclairs Bartrum Lerner
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT

VENUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00994910)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47 63
Investments 5 55,529 48,509
55,576 48,572

CURRENT ASSETS
Stocks 256,851 575,302
Debtors 6 472,098 594,752
Cash at bank 4,775,643 3,943,599
5,504,592 5,113,653
CREDITORS
Amounts falling due within one year 7 294,077 384,452
NET CURRENT ASSETS 5,210,515 4,729,201
TOTAL ASSETS LESS CURRENT LIABILITIES 5,266,091 4,777,773

PROVISIONS FOR LIABILITIES 9 8,380 5,035
NET ASSETS 5,257,711 4,772,738

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve 10 34,441 30,766
Retained earnings 10 5,213,270 4,731,972
SHAREHOLDERS' FUNDS 5,257,711 4,772,738

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th January 2024 and were signed on its behalf by:



Mr P.N. Mehta - Director


VENUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00994910)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Venus Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to sell. Costs includes all costs of purchase, costs of conversion and other costs incurred in bring stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred 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 or deferred 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

VENUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00994910)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable for the year are charged in the profit and loss account.

Operating leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of lease.

Fixed asset investments - listed investments
Fixed asset investments comprise investments in equity instruments which are measured at fair value which is normally the transaction price excluding the transaction costs. Changes in fair value are recognised in Profit and Loss Account. Fair value is based on the market value of listed investments at the year end.

Dividends are taken to the profit and loss account when received.

Debtors and creditors receivable/payable within one year
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 7,020 3,222 10,242
DEPRECIATION
At 1st January 2023 6,981 3,198 10,179
Charge for year 10 6 16
At 31st December 2023 6,991 3,204 10,195
NET BOOK VALUE
At 31st December 2023 29 18 47
At 31st December 2022 39 24 63

VENUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00994910)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1st January 2023 48,509
Revaluations 7,020
At 31st December 2023 55,529
NET BOOK VALUE
At 31st December 2023 55,529
At 31st December 2022 48,509

Listed Investments at Cost -£12,708

Market value of listed investments at 31st December 2023 - £ 55,529 .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 459,304 582,977
VAT 1,874 3,240
Prepayments and accrued income 10,920 8,535
472,098 594,752

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 44,868 58,231
Corporation Tax 147,327 237,734
PAYE and NIC taxes 1,218 895
Directors' current accounts 89,260 83,906
Accruals and deferred income 11,404 3,686
294,077 384,452

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 18,072 21,500
Between one and five years 68,000 -
In more than five years 2,462 -
88,534 21,500

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred Tax on unrealised gains 8,380 5,035

VENUS ENTERPRISES LIMITED (REGISTERED NUMBER: 00994910)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st January 2023 5,035
Provided during year 3,345
Balance at 31st December 2023 8,380

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1st January 2023 4,731,972 30,766 4,762,738
Profit for the year 484,973 484,973
Fair value adjustments on
listed investments (3,675 ) 3,675 -
At 31st December 2023 5,213,270 34,441 5,247,711