Okeke Ventures And Associates Limited 11802615 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is buying, selling and letting of real estate Digita Accounts Production Advanced 6.30.9574.0 true true 11802615 2023-04-01 2024-03-31 11802615 2024-03-31 11802615 core:RetainedEarningsAccumulatedLosses 2024-03-31 11802615 core:ShareCapital 2024-03-31 11802615 core:CurrentFinancialInstruments 2024-03-31 11802615 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11802615 core:FurnitureFittingsToolsEquipment 2024-03-31 11802615 bus:SmallEntities 2023-04-01 2024-03-31 11802615 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11802615 bus:FilletedAccounts 2023-04-01 2024-03-31 11802615 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11802615 bus:RegisteredOffice 2023-04-01 2024-03-31 11802615 bus:Director1 2023-04-01 2024-03-31 11802615 bus:Director2 2023-04-01 2024-03-31 11802615 bus:Director6 2023-04-01 2024-03-31 11802615 bus:Director7 2023-04-01 2024-03-31 11802615 bus:Director8 2023-04-01 2024-03-31 11802615 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11802615 core:FurnitureFittings 2023-04-01 2024-03-31 11802615 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 11802615 countries:UnitedKingdom 2023-04-01 2024-03-31 11802615 2023-03-31 11802615 core:FurnitureFittingsToolsEquipment 2023-03-31 11802615 2022-04-01 2023-03-31 11802615 2023-03-31 11802615 core:RetainedEarningsAccumulatedLosses 2023-03-31 11802615 core:ShareCapital 2023-03-31 11802615 core:CurrentFinancialInstruments 2023-03-31 11802615 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11802615 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 11802615

Okeke Ventures And Associates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Okeke Ventures And Associates Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Okeke Ventures And Associates Limited

Company Information

Directors

Dr A Okeke

A Okeke

E Okeke

J Okeke

M Okeke

Registered office

47 Cirencester Road
Charlton Kings
Cheltenham
Gloucestershire
GL53 8EX

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Okeke Ventures And Associates Limited

(Registration number: 11802615)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

224

299

Investment property

5

176,677

176,677

 

176,901

176,976

Current assets

 

Debtors

6

-

692

Cash at bank and in hand

 

25,008

17,372

 

25,008

18,064

Creditors: Amounts falling due within one year

7

(182,027)

(180,673)

Net current liabilities

 

(157,019)

(162,609)

Net assets

 

19,882

14,367

Capital and reserves

 

Called up share capital

10

10

Retained earnings

19,872

14,357

Shareholders' funds

 

19,882

14,367

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 November 2024 and signed on its behalf by:
 

.........................................
Dr A Okeke
Director

   
     
 

Okeke Ventures And Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
47 Cirencester Road
Charlton Kings
Cheltenham
Gloucestershire
GL53 8EX
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Okeke Ventures And Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by directors. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Okeke Ventures And Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

399

399

At 31 March 2024

399

399

Depreciation

At 1 April 2023

100

100

Charge for the year

75

75

At 31 March 2024

175

175

Carrying amount

At 31 March 2024

224

224

At 31 March 2023

299

299

5

Investment properties

2024
£

At 1 April

176,677

At 31 March

176,677

The Directors have confirmed the valuation of the property.

6

Debtors

Current

2024
£

2023
£

Other debtors

-

692

 

-

692

7

Creditors

2024
£

2023
£

Due within one year

Amounts owed to related parties

179,516

179,498

Other creditors

2,511

1,175

182,027

180,673