Company Registration No. 10812266 (England and Wales)
Venture Propertyz Ltd
Unaudited accounts
for the year ended 30 June 2024
Venture Propertyz Ltd
Unaudited accounts
Contents
Venture Propertyz Ltd
Company Information
for the year ended 30 June 2024
Director
Mohamed Zahid Farooq Shakur
Company Number
10812266 (England and Wales)
Registered Office
27 Old Gloucester Street
London
WC1N 3AX
United Kingdom
Accountants
Genius Accountancy Ltd
27 Old Gloucester Street
London
WC1N 3AX
Venture Propertyz Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
13,971
14,863
Investment property
1,475,000
1,475,000
Cash at bank and in hand
41
6,621
Creditors: amounts falling due within one year
(372,497)
(382,241)
Net current liabilities
(372,456)
(375,620)
Total assets less current liabilities
1,116,515
1,114,243
Creditors: amounts falling due after more than one year
(909,100)
(909,100)
Provisions for liabilities
Deferred tax
(33,812)
(33,812)
Net assets
173,603
171,331
Called up share capital
100
100
Revaluation reserve
-
138,497
Fair value reserve
138,497
-
Profit and loss account
35,006
32,734
Shareholders' funds
173,603
171,331
For the year ending 30 June 2024 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 30 October 2024 and were signed on its behalf by
Mohamed Zahid Farooq Shakur
Director
Company Registration No. 10812266
Venture Propertyz Ltd
Notes to the Accounts
for the year ended 30 June 2024
Venture Propertyz Ltd is a private company, limited by shares, registered in England and Wales, registration number 10812266. The registered office is 27 Old Gloucester Street, London, WC1N 3AX, United Kingdom.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Land and building amounting recorded as fair market value. Depreciation has been provided using the reducing balance method, which allocates costs based on the diminishing book value of assets over their useful lives:
Venture Propertyz Ltd
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Fair value at 1 July 2023
1,475,000
Reclassification: Accumulated revaluation gain of £147,309 was classified in the profit and loss statement. This has now been reclassified from profit and loss account to other comprehensive income in the year 2023.
Accumulated deferred tax of £29,062 has been reclassified from deferred tax expense to other comprehensive income.
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
754
2,224
Loans from directors
371,743
380,017
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
909,100
909,100
As of the year end, the following amounts were reclassified from the profit and loss statement and balance sheet in comparative year:
iA total amount of £34,514 has been reclassified from interest on finance leases and HP to interest on bank loans and overdrafts in the profit and loss statement.
A total amount of £909,100 has been reclassified from finance lease and HP contracts to bank loans.
8
Average number of employees
During the year the average number of employees was 0 (2023: 1).