Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31No description of principal activity4true2023-01-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.4true 10819098 2023-01-01 2023-12-31 10819098 2022-01-01 2022-12-31 10819098 2023-12-31 10819098 2022-12-31 10819098 c:Director1 2023-01-01 2023-12-31 10819098 c:Director2 2023-01-01 2023-12-31 10819098 c:RegisteredOffice 2023-01-01 2023-12-31 10819098 d:PlantMachinery 2023-01-01 2023-12-31 10819098 d:PlantMachinery 2023-12-31 10819098 d:PlantMachinery 2022-12-31 10819098 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10819098 d:OfficeEquipment 2023-01-01 2023-12-31 10819098 d:OfficeEquipment 2023-12-31 10819098 d:OfficeEquipment 2022-12-31 10819098 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10819098 d:ComputerEquipment 2023-01-01 2023-12-31 10819098 d:ComputerEquipment 2023-12-31 10819098 d:ComputerEquipment 2022-12-31 10819098 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10819098 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10819098 d:CurrentFinancialInstruments 2023-12-31 10819098 d:CurrentFinancialInstruments 2022-12-31 10819098 d:CurrentFinancialInstruments 1 2023-12-31 10819098 d:CurrentFinancialInstruments 1 2022-12-31 10819098 d:Non-currentFinancialInstruments 2023-12-31 10819098 d:Non-currentFinancialInstruments 2022-12-31 10819098 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10819098 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10819098 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10819098 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10819098 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 10819098 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 10819098 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 10819098 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 10819098 d:RetainedEarningsAccumulatedLosses 2023-12-31 10819098 d:RetainedEarningsAccumulatedLosses 2022-12-31 10819098 c:OrdinaryShareClass1 2023-01-01 2023-12-31 10819098 c:OrdinaryShareClass1 2023-12-31 10819098 c:OrdinaryShareClass1 2022-12-31 10819098 c:FRS102 2023-01-01 2023-12-31 10819098 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10819098 c:FullAccounts 2023-01-01 2023-12-31 10819098 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10819098 2 2023-01-01 2023-12-31 10819098 4 2023-01-01 2023-12-31 10819098 6 2023-01-01 2023-12-31 10819098 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10819098









NUTRICHEM VENTURES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NUTRICHEM VENTURES LIMITED
 
 
COMPANY INFORMATION


Directors
N Stanisavljevic 
M Stanisavljevic 




Registered number
10819098



Registered office
41 Leigh Road

Cobham

Surrey

KT11 2LF




Accountants
Donald Reid Limited

18a/20 King Street

Maidenhead

Berkshire

SL6 1EF





 
NUTRICHEM VENTURES LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 12


 
NUTRICHEM VENTURES LIMITED
REGISTERED NUMBER: 10819098

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,091
1,734

Investments
 5 
324,800
233,573

  
325,891
235,307

Current assets
  

Debtors: amounts falling due within one year
 6 
739,164
1,818,633

Cash at bank and in hand
 7 
6,238
31,432

  
745,402
1,850,065

Creditors: amounts falling due within one year
 8 
(684,982)
(1,776,874)

Net current assets
  
 
 
60,420
 
 
73,191

Total assets less current liabilities
  
386,311
308,498

Creditors: amounts falling due after more than one year
 9 
(393,160)
(410,788)

  

Net liabilities
  
(6,849)
(102,290)


Capital and reserves
  

Profit and loss account
  
(6,849)
(102,290)

  
(6,849)
(102,290)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2024.

Page 1

 
NUTRICHEM VENTURES LIMITED
REGISTERED NUMBER: 10819098
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


M Stanisavljevic
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
NUTRICHEM VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Nutrichem Ventures Limited is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales. The registered office address is 41 Leigh Road, Cobham, Surrey, England, KT11 2LF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At year end had net liabilities of £6,849 (2022 £102,290). As the company will continue to be supported by its creditors. the directors consider it appropriate to prepare the financial statements on the going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
NUTRICHEM VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
NUTRICHEM VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line
Office equipment
-
25%
straight line
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
NUTRICHEM VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of
Page 6

 
NUTRICHEM VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities
Page 7

 
NUTRICHEM VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)


Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
2,446
7,053
4,329
13,828



At 31 December 2023

2,446
7,053
4,329
13,828



Depreciation


At 1 January 2023
2,446
7,053
2,595
12,094


Charge for the year on owned assets
-
-
643
643



At 31 December 2023

2,446
7,053
3,238
12,737



Net book value



At 31 December 2023
-
-
1,091
1,091



At 31 December 2022
-
-
1,734
1,734

Page 8

 
NUTRICHEM VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
233,573


Additions
91,227



At 31 December 2023
324,800




Page 9

 
NUTRICHEM VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
34,361
530,513

Amounts owed by group undertakings
628,243
1,075,934

Other debtors
76,560
142,034

Prepayments and accrued income
-
70,152

739,164
1,818,633



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
6,238
31,432

Less: bank overdrafts
(358,468)
-

(352,230)
31,432



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
358,468
-

Bank loans
149,742
512,429

Trade creditors
30,712
650,969

Amounts owed to group undertakings
-
60,150

Corporation tax
72,027
58,387

Other taxation and social security
10
1,250

Invoice finance facility
-
425,263

Other creditors
74,023
68,426

684,982
1,776,874


Amounts of £542,902 (2022: £940,2638) were secured by way of a fixed and floating charge over the company assets.

Page 10

 
NUTRICHEM VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
393,160
410,788

393,160
410,788



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
149,742
512,429


149,742
512,429

Amounts falling due 1-2 years

Bank loans
366,836
257,752


366,836
257,752


Amounts falling due after more than 5 years

Bank loans
26,324
153,036

26,324
153,036

542,902
923,217



11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



4 (2022 - 4) Ordinary shares of £0.01 each
-
-


Page 11

 
NUTRICHEM VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Transactions with directors

During the year the directors received advances of £92,156 (2022: £135,586) and made repayments of £189,256 (2022: £150,000). Interest was charged at the official rate.


13.Directors' personal guarantees

The directors have provided personal guarantees to Barclays Plc limited to £400,000. 


14.


Related party transactions

At the year end, included in other creditors is the amount of £39,601 (2022: £87,100 included in other debtors) owed to the company by the directors and shareholders.

 
Page 12