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REGISTERED NUMBER: 06263440 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Venus Vehicle Solutions Limited

Venus Vehicle Solutions Limited (Registered number: 06263440)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Venus Vehicle Solutions Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: S Venus
K L A Venus





REGISTERED OFFICE: E-Volve Business Centre
Cygnet Way
Rainton Bridge South Business Park
HOUGHTON LE SPRING
Tyne and Wear
DH4 5QY





REGISTERED NUMBER: 06263440 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Venus Vehicle Solutions Limited (Registered number: 06263440)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 393 310
393 310

CURRENT ASSETS
Debtors 6 9,575 16,237
Cash at bank 10,630 25,552
20,205 41,789
CREDITORS
Amounts falling due within one year 7 13,044 20,166
NET CURRENT ASSETS 7,161 21,623
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,554

21,933

CREDITORS
Amounts falling due after more than one
year

8

18,334

21,667
NET (LIABILITIES)/ASSETS (10,780 ) 266

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (10,880 ) 166
SHAREHOLDERS' FUNDS (10,780 ) 266

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Venus Vehicle Solutions Limited (Registered number: 06263440)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





S Venus - Director


Venus Vehicle Solutions Limited (Registered number: 06263440)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Venus Vehicle Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from the standard.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income Recognition
Income is recognised when a contract for the sale of goods is determined as unconditional.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on cost

Tangible fixed assets are measured at cost less depreciation and impairment.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Venus Vehicle Solutions Limited (Registered number: 06263440)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 June 2023
and 31 May 2024 7,925
AMORTISATION
At 1 June 2023
and 31 May 2024 7,925
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 June 2023 10,188
Additions 200
At 31 May 2024 10,388
DEPRECIATION
At 1 June 2023 9,878
Charge for year 117
At 31 May 2024 9,995
NET BOOK VALUE
At 31 May 2024 393
At 31 May 2023 310

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,719 11,089
Other debtors 50 50
Directors' loan accounts 4,034 4,326
Prepayments and accrued income 772 772
9,575 16,237

Venus Vehicle Solutions Limited (Registered number: 06263440)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,333 3,333
Trade creditors 1,840 1,804
Taxation and social security 5,993 12,064
Other creditors 78 36
Accruals and deferred income 1,800 2,929
13,044 20,166

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 3,333 3,333
Bank loans - 2-5 years 10,000 10,000
Bank loans more than 5 years 5,001 8,334
18,334 21,667

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 5,001 8,334

9. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:

2024 2023
£    £   
Within one year 992 992

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

Venus Vehicle Solutions Limited (Registered number: 06263440)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
S Venus
Balance outstanding at start of year 4,326 7,880
Amounts advanced 33,772 59,640
Amounts repaid (34,064 ) (63,194 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,034 4,326

12. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.
2024 2023
£ £
Amounts due from directors 4,034 4,326
No interest has been charged.