Company registration number 09711662 (England and Wales)
SEGELU VENTURES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
SEGELU VENTURES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
SEGELU VENTURES LIMITED (REGISTERED NUMBER: 09711662)
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,201
5,569
Current assets
Debtors
4
5,600
9,792
Cash at bank and in hand
42,720
36,726
48,320
46,518
Creditors: amounts falling due within one year
5
(39,702)
(31,581)
Net current assets
8,618
14,937
Total assets less current liabilities
13,819
20,506
Creditors: amounts falling due after more than one year
6
(9,059)
(17,789)
Provisions for liabilities
(1,170)
(1,272)
Net assets
3,590
1,445
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
3,580
1,435
Total equity
3,590
1,445
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SEGELU VENTURES LIMITED (REGISTERED NUMBER: 09711662)
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 January 2025 and are signed on its behalf by:
Dr S Arinoso
Director
SEGELU VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information
Segelu Ventures Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Swan Street, West Malling, Kent, ME19 6JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of consideration received or receivable for the services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria must also be met before turnover is recognised.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
The amount of turnover can be measured reliably
It is probable that the company will receive the consideration due under the contract
The stage of complete of the contract at the end of the reporting period can be measured reliably; and
The costs incurred and the costs to complete the contract can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% on reducing balance
Computer equipment
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year.
SEGELU VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 1 August 2023
2,026
12,277
14,303
Additions
1,199
1,199
At 31 July 2024
2,026
13,476
15,502
Depreciation and impairment
At 1 August 2023
1,695
7,039
8,734
Depreciation charged in the year
83
1,484
1,567
At 31 July 2024
1,778
8,523
10,301
Carrying amount
At 31 July 2024
248
4,953
5,201
At 31 July 2023
331
5,238
5,569
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,600
5,600
Other debtors
4,192
5,600
9,792
SEGELU VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
8,635
8,422
Taxation and social security
19,743
20,843
Other creditors
11,324
2,316
39,702
31,581
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,059
17,789