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REGISTERED NUMBER: 12472573 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

29 FEBRUARY 2024

FOR

SUSSEX VENTURES LIMITED

SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,013 240
Investments 6 2 2
1,015 242

CURRENT ASSETS
Debtors 7 11,298 14,454
Cash at bank 20,765 20,041
32,063 34,495
CREDITORS
Amounts falling due within one year 8 10,457 17,394
NET CURRENT ASSETS 21,606 17,101
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,621

17,343

PROVISIONS FOR LIABILITIES 10 192 46
NET ASSETS 22,429 17,297

CAPITAL AND RESERVES
Called up share capital 11 160 160
Retained earnings 22,269 17,137
SHAREHOLDERS' FUNDS 22,429 17,297

SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

BALANCE SHEET - continued
29 FEBRUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2024 and were signed on its behalf by:





Dr G Chan - Director


SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Sussex Ventures 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: 12472573

Registered office: 48 St Leonards Road
Bexhill on Sea
East Sussex
TN40 1JB

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
The turnover shown in the profit and loss account represents amounts receivable for services provided and property letting during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 20% on reducing balance
Computer equipment - 25% on cost

All fixed assets are initially recorded at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.


SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year end and that are expected to apply to the reversal of the timing difference.

Provision is made for tax on gains and losses arising from investment assets that are measured at fair value. This is measured using the tax rates and allowances that are expected to apply to the sale of the asset.

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.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Fixed asset investments
The fixed asset investments are revalued annually to their fair value. The movement in value is recognised in the profit and loss account.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. TANGIBLE FIXED ASSETS
Office Computer
equipment equipment Totals
£    £    £   
COST
At 1 March 2023 139 259 398
Additions - 1,146 1,146
At 29 February 2024 139 1,405 1,544
DEPRECIATION
At 1 March 2023 28 130 158
Charge for year 22 351 373
At 29 February 2024 50 481 531
NET BOOK VALUE
At 29 February 2024 89 924 1,013
At 28 February 2023 111 129 240

6. FIXED ASSET INVESTMENTS
Fixed
asset
invest-
ments
£   
COST OR VALUATION
At 1 March 2023
and 29 February 2024 2
NET BOOK VALUE
At 29 February 2024 2
At 28 February 2023 2

SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 29 February 2024 is represented by:

Fixed
asset
invest-
ments
£   
Valuation in 2021 (301 )
Valuation in 2022 301
Cost 2
2

Market value of investments at 28 February 2024: £2 (2023: £2).

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current account 4,356 7,056
Prepayments and accrued income 6,942 7,398
11,298 14,454

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,134 804
Corporation tax 1,995 2,317
Other creditors 3,172 2,826
Accruals and deferred income 4,156 11,447
10,457 17,394

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 11,000 10,560
Between one and five years 11,833 10,400
22,833 20,960

SUSSEX VENTURES LIMITED (REGISTERED NUMBER: 12472573)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 192 46

Deferred
tax
£   
Balance at 1 March 2023 46
Provided during year 146
Balance at 29 February 2024 192

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100
60 Ordinary B £1 60 60
160 160

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Dr G Chan and Dr N A Lee
Balance outstanding at start of year 7,056 -
Amounts advanced 4,850 7,056
Amounts repaid (7,550 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,356 7,056

Loans to the directors not exceeding £10,000 per director, are interest free and repayable on demand.