Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07230664 2023-04-01 2024-03-31 07230664 2022-04-01 2023-03-31 07230664 2024-03-31 07230664 2023-03-31 07230664 c:Director1 2023-04-01 2024-03-31 07230664 d:MotorVehicles 2023-04-01 2024-03-31 07230664 d:MotorVehicles 2024-03-31 07230664 d:MotorVehicles 2023-03-31 07230664 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07230664 d:ComputerEquipment 2023-04-01 2024-03-31 07230664 d:ComputerEquipment 2024-03-31 07230664 d:ComputerEquipment 2023-03-31 07230664 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07230664 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07230664 d:CurrentFinancialInstruments 2024-03-31 07230664 d:CurrentFinancialInstruments 2023-03-31 07230664 d:Non-currentFinancialInstruments 2024-03-31 07230664 d:Non-currentFinancialInstruments 2023-03-31 07230664 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07230664 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07230664 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07230664 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07230664 d:ShareCapital 2024-03-31 07230664 d:ShareCapital 2023-03-31 07230664 d:RetainedEarningsAccumulatedLosses 2024-03-31 07230664 d:RetainedEarningsAccumulatedLosses 2023-03-31 07230664 c:FRS102 2023-04-01 2024-03-31 07230664 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07230664 c:FullAccounts 2023-04-01 2024-03-31 07230664 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07230664 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 07230664









INITIA VENTURES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
INITIA VENTURES LIMITED
REGISTERED NUMBER: 07230664

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
67,053
84,514

  
67,053
84,514

Current assets
  

Debtors: amounts falling due after more than one year
 5 
1,415,473
1,486,086

Debtors: amounts falling due within one year
 5 
336,539
337,753

Cash at bank and in hand
 6 
71,124
254,010

  
1,823,136
2,077,849

Creditors: amounts falling due within one year
 7 
(25,870)
(47,672)

Net current assets
  
 
 
1,797,266
 
 
2,030,177

Total assets less current liabilities
  
1,864,319
2,114,691

Creditors: amounts falling due after more than one year
 8 
(40,685)
(59,167)

  

Net assets
  
1,823,634
2,055,524


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,823,534
2,055,424

  
1,823,634
2,055,524


Page 1

 
INITIA VENTURES LIMITED
REGISTERED NUMBER: 07230664
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 by: 




................................................
A Kalyanpur
Director

Date: 14 November 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
INITIA VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Initia Ventures Limited is a private company limited by shares. The company is incorporated in England and Wales and its registered office address is Aston House, Cornwall Avenue, London N3 1LF. The registration number is 7230664.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
5 years straight line method
Computer equipment
-
15% reducing balance method

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.

 
2.4

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.

Page 3

 
INITIA VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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 corporation 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 United Kingdom where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

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 1 (2023 - 1).

Page 4

 
INITIA VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
94,231
2,390
96,621


Additions
-
1,693
1,693



At 31 March 2024

94,231
4,083
98,314



Depreciation


At 1 April 2023
11,618
491
12,109


Charge for the year on owned assets
18,846
306
19,152



At 31 March 2024

30,464
797
31,261



Net book value



At 31 March 2024
63,767
3,286
67,053



At 31 March 2023
82,613
1,900
84,513


5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
1,415,473
1,486,086

1,415,473
1,486,086


2024
2023
£
£

Due within one year

Other debtors
333,107
334,375

Prepayments and accrued income
3,432
3,378

336,539
337,753


Page 5

 
INITIA VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
71,124
254,010

71,124
254,010



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
26,573

Corporation tax
-
1,243

Other taxation and social security
4,208
3,724

Obligations under finance lease and hire purchase contracts
18,662
13,382

Accruals and deferred income
3,000
2,750

25,870
47,672



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
40,685
59,167

40,685
59,167


 
Page 6