1 April 2023 false No description of principal activity Taxfiler 2024.6 SC425925business:PrivateLimitedCompanyLtd2023-04-012024-03-31 SC4259252023-03-31 SC4259252023-04-012024-03-31 SC425925business:AuditExemptWithAccountantsReport2023-04-012024-03-31 SC425925business:AbridgedAccounts2023-04-012024-03-31 SC4259252024-03-31 SC425925business:Director12023-04-012024-03-31 SC425925business:Director22023-04-012024-03-31 SC425925business:RegisteredOffice2023-04-012024-03-31 SC4259252023-03-31 SC425925core:WithinOneYear2024-03-31 SC425925core:WithinOneYear2023-03-31 SC425925core:AfterOneYear2024-03-31 SC425925core:AfterOneYear2023-03-31 SC425925core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 SC425925core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 SC425925core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 SC425925core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 SC425925core:PreviouslyStatedAmount2024-03-31 SC425925core:PreviouslyStatedAmount2023-03-31 SC425925business:SmallEntities2023-04-012024-03-31 SC425925countries:Scotland2023-04-012024-03-31 SC425925core:PlantMachinery2023-04-012024-03-31 SC425925core:ComputerEquipment2023-04-012024-03-31 SC425925core:BetweenOneFiveYears2024-03-31 SC425925core:BetweenOneFiveYears2023-03-31 SC4259252022-04-012023-03-31 iso4217:GBP xbrli:pure
Company Registration No. SC425925 (Scotland)
Ventura Highland Ltd. Unaudited accounts for the year ended 31 March 2024
Ventura Highland Ltd. Unaudited accounts Contents
Page
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Ventura Highland Ltd. Company Information for the year ended 31 March 2024
Directors
Alastair Watt David Wolton
Company Number
SC425925 (Scotland)
Registered Office
1 Carsegate Road South Inverness IV3 8LL
Accountants
CMM Accountancy (Inverness) Limited The Green House Beechwood Business Park North Inverness IV2 3BL
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Ventura Highland Ltd. Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
20,333 
- 
Tangible assets
4,340 
4,558 
24,673 
4,558 
Current assets
Inventories
1,500 
1,500 
Debtors
14,565 
2,541 
Cash at bank and in hand
2,667 
28,743 
18,732 
32,784 
Creditors: amounts falling due within one year
(22,395)
(35,348)
Net current liabilities
(3,663)
(2,564)
Total assets less current liabilities
21,010 
1,994 
Creditors: amounts falling due after more than one year
(20,000)
- 
Provisions for liabilities
Deferred tax
(881)
(944)
Net assets
129 
1,050 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
128 
1,049 
Shareholders' funds
129 
1,050 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by
David Wolton Director Company Registration No. SC425925
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Ventura Highland Ltd. Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Ventura Highland Ltd. is a private company, limited by shares, registered in Scotland, registration number SC425925. The registered office is 1 Carsegate Road South, Inverness, IV3 8LL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Computer equipment
33% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Ventura Highland Ltd. Notes to the Accounts for the year ended 31 March 2024
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 April 2023
24,634 
Additions
20,333 
At 31 March 2024
44,967 
Amortisation
At 1 April 2023
24,634 
At 31 March 2024
24,634 
Net book value
At 31 March 2024
20,333 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2023
18,423 
Additions
1,611 
At 31 March 2024
20,034 
Depreciation
At 1 April 2023
13,865 
Charge for the year
1,829 
At 31 March 2024
15,694 
Net book value
At 31 March 2024
4,340 
At 31 March 2023
4,558 
6
Pension commitments
The company operates a defined contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totaling £306 (2023 - £282) were payable to the fund at 31 March 2024 and are included in other creditors.
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Ventura Highland Ltd. Notes to the Accounts for the year ended 31 March 2024
7
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
13,261 
- 
Later than one year and not later than five years
- 
25,403 
13,261 
25,403 
8
Loans to directors
As at 31 March 2024 other debtors included a loan to the director A Watt of £10,502 (2023 - £8,921 credit) and a loan to the director D Wolton of £1,773 (2023 - £4,711 credit). The loans are unsecured and have no fixed terms of repayment.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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