Company registration number 13448735 (England and Wales)
ALPHA 8 VENTURES LTD
Unaudited financial statements
For the year ended 30 June 2024
Pages for filing with registrar
ALPHA 8 VENTURES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ALPHA 8 VENTURES LTD
BALANCE SHEET
As at 30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,268
6,044
Investments
4
105,489
4,268
111,533
Current assets
Debtors
5
13,963
1
Cash at bank and in hand
8,928
372
22,891
373
Creditors: amounts falling due within one year
6
(76,825)
(238,315)
Net current liabilities
(53,934)
(237,942)
Net liabilities
(49,666)
(126,409)
Capital and reserves
Called up share capital
7
100
1
Profit and loss reserves
(49,766)
(126,410)
Total equity
(49,666)
(126,409)
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on
6 March 2025
06 March 2025
and are signed on its behalf by:
B Vosalik
Director
Company registration number 13448735 (England and Wales)
ALPHA 8 VENTURES LTD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024
- 2 -
1
Accounting policies
Company information
Alpha 8 Ventures Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 72 Thorparch Road, London, United Kingdom, SW8 4RT.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The statement of financial position has a deficit at the year end. However, most of the funding for the company is by way of advances from truethe directors, who have no intention to demand repayment for the foreseeable future.
The ability of the company to continue trading is dependent upon the continued financial support of the directors, who are confident that they have financial resources to continue funding and supporting the company. Therefore, the directors believes that it is still appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation and lessany impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Computer and office equipment
20% straight line
1.5
Fixed asset investments
Investments are initially measured at purchase cost. They are subsequently measured at fair value and the changes in fair value are recognised in the profit and loss account.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
ALPHA 8 VENTURES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
1
ALPHA 8 VENTURES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 and 30 June 2024
8,879
Depreciation and impairment
At 1 July 2023
2,835
Depreciation charged in the year
1,776
At 30 June 2024
4,611
Carrying amount
At 30 June 2024
4,268
At 30 June 2023
6,044
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
105,489
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 July 2023
105,489
Disposals
(105,489)
At 30 June 2024
-
Carrying amount
At 30 June 2024
-
At 30 June 2023
105,489
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
13,963
ALPHA 8 VENTURES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2024
5
Debtors
(Continued)
- 5 -
2024
2023
Amounts falling due after more than one year:
£
£
Unpaid share capital
1
Total debtors
13,963
1
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
9,038
Other creditors
67,787
238,315
76,825
238,315
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
1
100
1
8
Directors' transactions
At the end of the year the company owed the directors £65,257 (2023 - £237,462). During the year the company paid interest of £2,412 (2023- £2,557) to the directors. The advances were unsecured and repayable on demand.