Acorah Software Products - Accounts Production 16.1.200 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 02820858 Mr Alexander Hensher Ms Karin Hensher iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02820858 2023-05-31 02820858 2024-05-31 02820858 2023-06-01 2024-05-31 02820858 frs-core:CurrentFinancialInstruments 2024-05-31 02820858 frs-core:Non-currentFinancialInstruments 2024-05-31 02820858 frs-core:ComputerEquipment 2024-05-31 02820858 frs-core:ComputerEquipment 2023-06-01 2024-05-31 02820858 frs-core:ComputerEquipment 2023-05-31 02820858 frs-core:FurnitureFittings 2024-05-31 02820858 frs-core:FurnitureFittings 2023-06-01 2024-05-31 02820858 frs-core:FurnitureFittings 2023-05-31 02820858 frs-core:RevaluationReserve 2023-05-31 02820858 frs-core:RevaluationReserve 2024-05-31 02820858 frs-core:ShareCapital 2024-05-31 02820858 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 02820858 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 02820858 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 02820858 frs-bus:SmallEntities 2023-06-01 2024-05-31 02820858 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 02820858 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 02820858 frs-core:CostValuation 2023-05-31 02820858 frs-core:AdditionsToInvestments 2024-05-31 02820858 frs-core:DisposalsRepaymentsInvestments 2024-05-31 02820858 frs-core:RevaluationsIncreaseDecreaseInInvestments 2024-05-31 02820858 frs-core:CostValuation 2024-05-31 02820858 frs-core:ProvisionsForImpairmentInvestments 2023-05-31 02820858 frs-core:ProvisionsForImpairmentInvestments 2024-05-31 02820858 frs-core:ListedExchangeTraded 2024-05-31 02820858 frs-core:ListedExchangeTraded 2023-05-31 02820858 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-05-31 02820858 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2024-05-31 02820858 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2024-05-31 02820858 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:ListedExchangeTraded 2024-05-31 02820858 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-05-31 02820858 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-05-31 02820858 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-05-31 02820858 frs-core:UnlistedNon-exchangeTraded 2024-05-31 02820858 frs-core:UnlistedNon-exchangeTraded 2023-05-31 02820858 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-05-31 02820858 frs-core:AdditionsToInvestments frs-core:UnlistedNon-exchangeTraded 2024-05-31 02820858 frs-core:DisposalsRepaymentsInvestments frs-core:UnlistedNon-exchangeTraded 2024-05-31 02820858 frs-core:RevaluationsIncreaseDecreaseInInvestments frs-core:UnlistedNon-exchangeTraded 2024-05-31 02820858 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-05-31 02820858 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-05-31 02820858 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-05-31 02820858 frs-bus:Director1 2023-06-01 2024-05-31 02820858 frs-bus:Director2 2023-06-01 2024-05-31 02820858 frs-core:Non-currentFinancialInstruments 1 2024-05-31 02820858 frs-core:CurrentFinancialInstruments 2 2024-05-31 02820858 frs-core:CurrentFinancialInstruments 3 2024-05-31 02820858 frs-countries:EnglandWales 2023-06-01 2024-05-31 02820858 2022-05-31 02820858 2023-05-31 02820858 2022-06-01 2023-05-31 02820858 frs-core:CurrentFinancialInstruments 2023-05-31 02820858 frs-core:Non-currentFinancialInstruments 2023-05-31 02820858 frs-core:RevaluationReserve 2023-05-31 02820858 frs-core:ShareCapital 2023-05-31 02820858 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 02820858 frs-core:Non-currentFinancialInstruments 1 2023-05-31 02820858 frs-core:CurrentFinancialInstruments 2 2023-05-31 02820858 frs-core:CurrentFinancialInstruments 3 2023-05-31
Registered number: 02820858
Capital Venture Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Artema Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02820858
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,064 1,330
Investments 5 5,764,334 5,753,347
5,765,398 5,754,677
CURRENT ASSETS
Debtors 6 3,092,457 2,607,556
Cash at bank and in hand 1,954 128,518
3,094,411 2,736,074
Creditors: Amounts Falling Due Within One Year 7 (68,827 ) (34,537 )
NET CURRENT ASSETS (LIABILITIES) 3,025,584 2,701,537
TOTAL ASSETS LESS CURRENT LIABILITIES 8,790,982 8,456,214
Creditors: Amounts Falling Due After More Than One Year 8 (2,400,000 ) (2,400,000 )
NET ASSETS 6,390,982 6,056,214
CAPITAL AND RESERVES
Called up share capital 9 600 600
Revaluation reserve 10 731,193 731,193
Profit and Loss Account 5,659,189 5,324,421
SHAREHOLDERS' FUNDS 6,390,982 6,056,214
Page 1
Page 2
For the year ending 31 May 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 Hensher
Director
07/02/2025
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
Capital Venture Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02820858 . The registered office is 23 Porters Wood, St Albans, Hertfordshire, AL3 6PQ.
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:
Fixtures & Fittings 20% on cost
Computer Equipment 3 years straight line
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 June 2023 13,331 2,639 15,970
As at 31 May 2024 13,331 2,639 15,970
Depreciation
As at 1 June 2023 12,001 2,639 14,640
Provided during the period 266 - 266
As at 31 May 2024 12,267 2,639 14,906
Net Book Value
As at 31 May 2024 1,064 - 1,064
As at 1 June 2023 1,330 - 1,330
5. Investments
Listed Unlisted Other Total
£ £ £ £
Cost
As at 1 June 2023 2,681,242 3,000 3,069,105 5,753,347
Additions 54,004 - - 54,004
Disposals (157,147 ) - - (157,147 )
Revaluations 114,130 - - 114,130
As at 31 May 2024 2,692,229 3,000 3,069,105 5,764,334
Provision
As at 1 June 2023 - - - -
As at 31 May 2024 - - - -
Net Book Value
As at 31 May 2024 2,692,229 3,000 3,069,105 5,764,334
As at 1 June 2023 2,681,242 3,000 3,069,105 5,753,347
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,251 9,966
Subsidiary 117,879 117,879
Other debtors - Penminster Brown 7,419 7,419
Amounts owed by associates (99,422 ) 2,478,557
31,127 2,613,821
...CONTINUED
Page 4
Page 5
Due after more than one year
Trade debtors (6,670 ) (6,265 )
Amounts owed by subsidiaries 3,068,000 -
3,061,330 (6,265 )
3,092,457 2,607,556
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,443 1,306
Corporation tax (16 ) (16 )
Other creditors 12,250 12,250
Credit Card 449 464
CT61 tax 33,168 -
Accruals and deferred income 20,533 20,533
68,827 34,537
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Loan stock 2,400,000 2,400,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 600 600
10. Reserves
Revaluation Reserve
£
As at 1 June 2023 731,193
As at 31 May 2024 731,193
Page 5