Registered number
08842768
Valuebull Ventures Limited
Filleted Accounts
31 December 2023
Valuebull Ventures Limited
Registered number: 08842768
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 3,103 4,654
Tangible assets 4 26,797 47,429
Investments 5 20,085 20,085
49,985 72,168
Current assets
Debtors 6 10,649 13,629
Cash at bank and in hand 64,841 130,167
75,490 143,796
Creditors: amounts falling due within one year 7 (15,836) (43,630)
Net current assets 59,654 100,166
Total assets less current liabilities 109,639 172,334
Creditors: amounts falling due after more than one year 8 (28,664) (33,643)
Net assets 80,975 138,691
Capital and reserves
Called up share capital 100 100
Profit and loss account 80,875 138,591
Shareholders' funds 80,975 138,691
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs A Bull
Director
Approved by the board on 25 September 2024
Valuebull Ventures Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 10 years
Computer equipment 25% straight line
Fixtures, fittings, tools and equipment 20% straight line
Motor Vehicles 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 15,512
At 31 December 2023 15,512
Amortisation
At 1 January 2023 10,858
Provided during the year 1,551
At 31 December 2023 12,409
Net book value
At 31 December 2023 3,103
At 31 December 2022 4,654
The intangible asset is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Computer equipment Fixtures & fittings Motor Vehicles Total
£ £ £ £ £
Cost
At 1 January 2023 63,779 4,220 6,166 54,500 128,665
Disposals - (3,845) - - (3,845)
At 31 December 2023 63,779 375 6,166 54,500 124,820
Depreciation
At 1 January 2023 32,512 4,033 3,816 40,875 81,236
Charge for the year 6,378 187 442 13,625 20,632
On disposals - (3,845) - - (3,845)
At 31 December 2023 38,890 375 4,258 54,500 98,023
Net book value
At 31 December 2023 24,889 - 1,908 - 26,797
At 31 December 2022 31,267 187 2,350 13,625 47,429
5 Investments
Other
investments
£
Cost
At 1 January 2023 20,085
At 31 December 2023 20,085
6 Debtors 2023 2022
£ £
Trade debtors 6,583 9,500
Other debtors 4,066 4,129
10,649 13,629
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,838 5,838
Taxation and social security costs 7,148 31,169
Other creditors 2,850 6,623
15,836 43,630
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 28,664 33,643
9 Other information
Valuebull Ventures Limited is a private company limited by shares and incorporated in England. Its registered office is:
Pettaugh Barn
Pettaugh
Stowmarket
Suffolk
IP14 6DY
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