REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 24 February 2023 to 28 February 2024 |
for |
Protea Venture Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 24 February 2023 to 28 February 2024 |
for |
Protea Venture Limited |
Protea Venture Limited (Registered number: 14686990) |
Contents of the Financial Statements |
for the Period 24 February 2023 to 28 February 2024 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 3 |
Protea Venture Limited (Registered number: 14686990) |
Statement of Financial Position |
28 February 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Protea Venture Limited (Registered number: 14686990) |
Statement of Financial Position - continued |
28 February 2024 |
The financial statements were approved by the director and authorised for issue on |
Protea Venture Limited (Registered number: 14686990) |
Notes to the Financial Statements |
for the Period 24 February 2023 to 28 February 2024 |
1. | STATUTORY INFORMATION |
Protea Venture Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investment property |
The investment property has been stated at cost. The Board do not consider the fair value of the property to be materially different from the value disclosed. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Protea Venture Limited (Registered number: 14686990) |
Notes to the Financial Statements - continued |
for the Period 24 February 2023 to 28 February 2024 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The company has net liabilities of £31,159. The accounts have been prepared on a going concern basis as the director has confirmed that she will continue to provide financial support to the company for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INVESTMENT PROPERTY |
Total |
£ |
COST |
Additions |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
Investment property situated at 14 Elm Bank Road, Wirral, Merseyside, CH62 4RP is under a charge from Buckinghamshire Building Society.The charge was created on 24 October 2023. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
Protea Venture Limited (Registered number: 14686990) |
Notes to the Financial Statements - continued |
for the Period 24 February 2023 to 28 February 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
The loan amounting to £82,500 is secured by the way of charge on the property situated at 14 Elm Bank Road, Wirral, Merseyside, CH62 4RP (disclosed as investment property). The charge was created in the name of Buckinghamshire Building Society on 24 October 2023. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | £1 | 1 |
1 Ordinary share of £1 was allotted and fully paid for |
10. | RELATED PARTY DISCLOSURES |
The company owes £131,405 to its director, Miss Darcel Charlotte May Washbourne who is also a sole shareholder of the company as at accounting year end date. |