VENTION FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Vention Finance Limited is a private company limited by shares, and incorporated in England and Wales. The company registration number is 12558580 and the registered office is 2nd Floor, Mutual House, 70 Conduit Street, London, England, W1S 2GF.
The company has not traded during the year or previous financial year.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements have been prepared on a going concern basis under the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.
The company is a parent company of a subsidiary. The company is not required to prepare and has not prepared consolidated financial statements. The financial statements of the company are consolidated into the financial statements of the parent company, Glenhawk Group Ltd.
The financial statements have been prepared on a going concern basis. The directors have considered relevant information in making their assessment.
Investments in subsidiaries are measured at cost less accumulated impairment.
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.
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.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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