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Registered number: 08280453
Ad.Ventures London Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Chartered Certified Accountants & Registered Auditors
Hill Crest
Castle Cary Road
West Lydford
Somerset
TA11 6DS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08280453
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,533 1,227
Investments 5 97,020 108,302
98,553 109,529
CURRENT ASSETS
Debtors 6 8,989 16,379
Cash at bank and in hand 527,488 387,055
536,477 403,434
Creditors: Amounts Falling Due Within One Year 7 (64,752 ) (51,764 )
NET CURRENT ASSETS (LIABILITIES) 471,725 351,670
TOTAL ASSETS LESS CURRENT LIABILITIES 570,278 461,199
PROVISIONS FOR LIABILITIES
Deferred Taxation (270 ) (270 )
NET ASSETS 570,008 460,929
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 570,006 460,927
SHAREHOLDERS' FUNDS 570,008 460,929
Page 1
Page 2
For the year ending 30 June 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alexander Dunsdon
Director
19 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Ad.Ventures London Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08280453 . The registered office is 2 Heathfields, Chieveley, Newbury, Berks, RG20 8TW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Straight line over 10 years
Plant & Machinery Straight line over 3 years
Fixtures & Fittings Straight line over 5 years
Computer Equipment Straight line over 3 years
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.5. Investments
Investments are shown at market value.
Realised and unrealised gains and losses are taken to the profit and loss account.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 6,726 923 4,795 13,039 25,483
Additions - - - 815 815
As at 30 June 2024 6,726 923 4,795 13,854 26,298
Depreciation
As at 1 July 2023 6,726 923 4,795 11,812 24,256
Provided during the period - - - 509 509
As at 30 June 2024 6,726 923 4,795 12,321 24,765
Net Book Value
As at 30 June 2024 - - - 1,533 1,533
As at 1 July 2023 - - - 1,227 1,227
5. Investments
Unlisted
£
Cost
As at 1 July 2023 108,302
Disposals (11,282 )
As at 30 June 2024 97,020
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 97,020
As at 1 July 2023 108,302
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,989 10,354
Directors' loan accounts - 6,025
8,989 16,379
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 56,148 33,762
VAT 6,850 16,552
Other creditors 1,450 1,450
Directors' loan accounts 304 -
64,752 51,764
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Alexander Dunsdon 6,025 - (6,025 ) - -
The above loan is unsecured, interest free and repayable on demand.
Page 5