Company Registration No. 09604502 (England and Wales)
Venditan Limited
Unaudited accounts
for the year ended 31 December 2023
Venditan Limited
Unaudited accounts
Contents
Venditan Limited
Statement of financial position
as at 31 December 2023
Intangible assets
597,663
1,005,950
Tangible assets
8,791
8,667
Cash at bank and in hand
152,884
127,218
Creditors: amounts falling due within one year
(164,658)
(218,252)
Net current assets
236,803
241,746
Total assets less current liabilities
843,257
1,256,363
Provisions for liabilities
Deferred tax
(2,198)
(2,167)
Net assets
841,059
1,254,196
Called up share capital
1
1
Profit and loss account
841,058
1,254,195
Shareholders' funds
841,059
1,254,196
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 13 September 2024 and were signed on its behalf by
Mr C A Maule
Director
Company Registration No. 09604502
Venditan Limited
Notes to the Accounts
for the year ended 31 December 2023
Venditan Limited is a private company, limited by shares, registered in England and Wales, registration number 09604502. The registered office is Wework, One St. Peter's Square, Manchester, M2 3DE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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:
Plant & machinery
3 years straight line
Fixtures & fittings
5 years straight line
Development costs are capitalised within intangible assets where they relate to specific projects for which future economic benefit is anticipated. The capitalised research and development costs are amortised on a straight line basis over a period of 5 years.
Research and development expenditure incurred in the year has been expensed.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Venditan Limited
Notes to the Accounts
for the year ended 31 December 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other
At 1 January 2023
3,872,778
At 31 December 2023
3,872,778
At 1 January 2023
2,866,828
Charge for the year
408,287
At 31 December 2023
3,275,115
At 31 December 2023
597,663
At 31 December 2022
1,005,950
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2023
120,336
40,710
161,046
At 31 December 2023
129,868
40,710
170,578
At 1 January 2023
111,912
40,467
152,379
Charge for the year
9,165
243
9,408
At 31 December 2023
121,077
40,710
161,787
At 31 December 2023
8,791
-
8,791
At 31 December 2022
8,424
243
8,667
Amounts falling due within one year
Trade debtors
231,262
323,965
Accrued income and prepayments
8,550
8,175
Venditan Limited
Notes to the Accounts
for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,144
-
Trade creditors
49,110
21,774
Taxes and social security
62,334
123,452
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
The company is a wholly owned subsidiary of Venditan Group Limited, a company incorporated in England & Wales with its register office at Wework, One St. Peter's Square, Manchester, United Kingdom, M2 3DE.
10
Average number of employees
During the year the average number of employees was 20 (2022: 23).