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REGISTERED NUMBER: 14686990 (England and Wales)















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 4 121,085

CURRENT ASSETS
Debtors 5 23,839
Cash at bank 37,822
61,661
CREDITORS
Amounts falling due within one year 6 131,405
NET CURRENT LIABILITIES (69,744 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,341

CREDITORS
Amounts falling due after more than
one year

7

82,500
NET LIABILITIES (31,159 )

CAPITAL AND RESERVES
Called up share capital 9 1
Retained earnings (31,160 )
SHAREHOLDERS' FUNDS (31,159 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 November 2024 and were signed by:





Ms Darcel Charlotte May Washbourne - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 14686990

Registered office: Flat 9 The Old Courthouse
2 Wesley Road
Poole
BH12 3BL

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 1 .

4. INVESTMENT PROPERTY
Total
£   
COST
Additions 121,085
At 28 February 2024 121,085
NET BOOK VALUE
At 28 February 2024 121,085

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 23,839

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 131,405

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
£   
Bank loans 82,500

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 82,500

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 82,500

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: £   
1 Ordinary £1 1

1 Ordinary share of £1 was allotted and fully paid for cash at par during the period.

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.