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Company Registration No. 12932359 (England and Wales)
Gmo Ventures Ltd Unaudited accounts for the year ended 31 December 2023
Gmo Ventures Ltd Unaudited accounts Contents
Page
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Gmo Ventures Ltd Company Information for the year ended 31 December 2023
Director
Greg Ovenden
Company Number
12932359 (England and Wales)
Registered Office
Brightwell Grange Britwell Road, Burnham Slough Berkshire SL1 8DF England
Accountants
Blue Cube Accountants Limited Britwell Grange Britwell Road Burnham SL1 8DF
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Gmo Ventures Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,542 
1,148 
Investments
34 
34 
3,576 
1,182 
Current assets
Debtors
369,872 
611,250 
Cash at bank and in hand
252,220 
2,015 
622,092 
613,265 
Creditors: amounts falling due within one year
(11,520)
(31,089)
Net current assets
610,572 
582,176 
Total assets less current liabilities
614,148 
583,358 
Provisions for liabilities
Deferred tax
(886)
- 
Net assets
613,262 
583,358 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
613,261 
583,357 
Shareholders' funds
613,262 
583,358 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 September 2024 and were signed on its behalf by
Greg Ovenden Director Company Registration No. 12932359
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Gmo Ventures Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Gmo Ventures Ltd is a private company, limited by shares, registered in England and Wales, registration number 12932359. The registered office is Brightwell Grange, Britwell Road, Burnham , Slough, Berkshire, SL1 8DF, England.
2
Accounting policies
Basis of preparation
These financial statements have been prepared in compliance with FRS 102, ’The Financial Reporting Standard applicable to 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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investments
Investments in shares are included at historical costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Computer equipment
25% straight line
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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 balance sheet date.
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Gmo Ventures Ltd Notes to the Accounts for the year ended 31 December 2023
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.
3
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
- 
2,298 
2,298 
Additions
990 
2,375 
3,365 
At 31 December 2023
990 
4,673 
5,663 
Depreciation
At 1 January 2023
- 
1,150 
1,150 
Charge for the year
62 
909 
971 
At 31 December 2023
62 
2,059 
2,121 
Net book value
At 31 December 2023
928 
2,614 
3,542 
At 31 December 2022
- 
1,148 
1,148 
4
Investments
Other investments 
£ 
Valuation at 1 January 2023
34 
Valuation at 31 December 2023
34 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
14 
- 
Amounts due from group undertakings etc.
295,000 
545,000 
Accrued income and prepayments
65,188 
66,250 
360,202 
611,250 
Amounts falling due after more than one year
Other debtors
9,670 
- 
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Gmo Ventures Ltd Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
- 
728 
Taxes and social security
11,486 
15,503 
Other creditors
34 
- 
Loans from directors
- 
13,458 
Accruals
- 
1,400 
11,520 
31,089 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Greg Ovenden
Loan
(13,458)
87,635 
64,507 
9,670 
(13,458)
87,635 
64,507 
9,670 
The loan to the director is fully repayable on demand and interest free.
9
Transactions with related parties
Included in debtors is £285,000 (2022 - £535,000) owed from Brand of Brothers Limited a company which is partly owned by GMO Ventures Limited. Included in debtors is £10,000 (2022 - £10,000) owed from Brand of Brothers Frozen Food Limited a company based in Ireland. This company is partially owned by director. Included in creditors is £34 (2022 - nil) owed to Brand of Brothers Limited a company which is partly owned by GMO Ventures Limited.
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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