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Registered Number: 08824011
England and Wales

 

 

 

AZALEA VENTURES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
Report to the directors on the preparation of the unaudited statutory accounts of Azalea Ventures Limited for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Azalea Ventures Limited for the year ended 31 May 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Azalea Ventures Limited, as a body, in accordance with the terms of our engagement letter dated 10 March 2025 Our work has been undertaken solely to prepare for your approval the accounts of Azalea Ventures Limited and state those matters that we have agreed to state to the Board of Directors of Azalea Ventures Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Azalea Ventures Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Azalea Ventures Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Azalea Ventures Limited. You consider that Azalea Ventures Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Azalea Ventures Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 May 2024



....................................................
SAW Accounting and tax advisory Limited
Suite SS, Avon House
435 Stratford Road
B90 4AA
10 March 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 617,516    607,516 
Investments   574,292 
617,516    1,181,808 
Current assets      
Debtors: amounts falling due within one year 222,911    182,664 
Cash at bank and in hand 10,371    35,426 
233,282    218,090 
Creditors: amount falling due within one year (11,748)  
Net current assets 221,534    218,090 
 
Total assets less current liabilities 839,050    1,399,898 
Creditors: amount falling due after more than one year (342,972)   (386,760)
Net assets 496,078    1,013,138 
 

Capital and reserves
     
Called up share capital 4 10,000    10,000 
Share premium account 175,085    175,085 
Profit and loss account 310,993    828,053 
Shareholders' funds 496,078    1,013,138 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 10 March 2025 and were signed by:


-------------------------------
Mr Ramesan Doraisami
Director
2
General Information
Azalea Ventures Limited is a private company, limited by shares, registered in England and Wales, registration number 08824011, registration address Unit SS, Avon House,, 435 Stratford Road, Shirley, Solihull, B90 4AA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 33% Straight Line
Computer Equipment 33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 June 2023 607,516    5,262    7,891    620,669 
Additions   10,000      10,000 
Disposals      
At 31 May 2024 607,516    15,262    7,891    630,669 
Depreciation
At 01 June 2023   5,262    7,891    13,153 
Charge for year      
On disposals      
At 31 May 2024   5,262    7,891    13,153 
Net book values
Closing balance as at 31 May 2024 607,516    10,000      617,516 
Opening balance as at 01 June 2023 607,516        607,516 


4.

Share Capital

Authorised
10,000 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
10,000 Ordinary shares of £1.00 each 10,000    10,000 
10,000    10,000 

3