Company registration number 04992711 (England and Wales)
VENTURE INSPECTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
VENTURE INSPECTION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
VENTURE INSPECTION LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,485
361
Current assets
Stocks
200
-
Debtors
4
18,071
10,138
Cash at bank and in hand
1,319
5,526
19,590
15,664
Creditors: amounts falling due within one year
5
(9,209)
(15,865)
Net current assets/(liabilities)
10,381
(201)
Net assets
11,866
160
Capital and reserves
Called up share capital
60
60
Capital redemption reserve
40
40
Profit and loss reserves
11,766
60
Total equity
11,866
160

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 30 September 2024 and are signed on its behalf by:
Mr A Pashley
Director
Company registration number 04992711 (England and Wales)
VENTURE INSPECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Venture Inspection Limited is a private company limited by shares incorporated in England and Wales. The registered office is 133 Twyford Road, Willington, Derby, DE65 6DG. The company registration number is 04992711.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% on cost
Computer equipment
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.5
Financial instruments

Debtors    

 

Short term debts are measured at transaction price, less any impairment.

 

Creditors

 

Short term creditors are measured at the transaction price.

VENTURE INSPECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
17,492
Additions
1,900
At 31 March 2024
19,392
Depreciation and impairment
At 1 April 2023
17,131
Depreciation charged in the year
776
At 31 March 2024
17,907
Carrying amount
At 31 March 2024
1,485
At 31 March 2023
361
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
17,760
-
0
Other debtors
311
10,138
18,071
10,138
VENTURE INSPECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
166
8,190
Taxation and social security
6,424
5,375
Other creditors
2,619
2,300
9,209
15,865
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