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Registration number: 08120401

SRM Ventures Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

SRM Ventures Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

SRM Ventures Ltd

Company Information

Directors

S R M Hunt

C Hunt

Registered office

3 Cottrell Close
Hungerford
Berkshire
RG17 0HF

Accountants

Sable & Argent Limited
2 Elvetham Crescent
Fleet
Hampshire
GU51 1BU

 

SRM Ventures Ltd

(Registration number: 08120401)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

57,242

44,838

Current assets

 

Debtors

5

1,063

200

Cash at bank and in hand

 

27,125

46,842

 

28,188

47,042

Creditors: Amounts falling due within one year

6

(25,944)

(18,689)

Net current assets

 

2,244

28,353

Total assets less current liabilities

 

59,486

73,191

Provisions for liabilities

(14,311)

(11,209)

Net assets

 

45,175

61,982

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

44,975

61,782

Shareholders' funds

 

45,175

61,982

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 December 2024 and signed on its behalf by:
 

S R M Hunt
Director

   
     
 

SRM Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3 Cottrell Close
Hungerford
Berkshire
RG17 0HF

These financial statements were authorised for issue by the Board on 2 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities during the year. Turnover is shown net of value added tax.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

SRM Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33.3% p.a. on cost

Motor vehicles

20% p.a. on cost

Plant and machinery

20% p.a. on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised at the transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of people (including directors) employed by the company in the year, was 2 (2023: 1).

 

SRM Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Office equipment
 £

Motor vehicles
 £

Pland and machinery
£

Total
£

Cost or valuation

At 1 July 2023

7,643

54,360

746

62,749

Additions

1,326

28,996

-

30,322

At 30 June 2024

8,969

83,356

746

93,071

Depreciation

At 1 July 2023

6,893

10,872

146

17,911

Charge for the year

1,097

16,671

150

17,918

At 30 June 2024

7,990

27,543

296

35,829

Carrying amount

At 30 June 2024

979

55,813

450

57,242

At 30 June 2023

750

43,488

600

44,838

 

SRM Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Debtors

Current

2024
£

2023
£

Prepayments

863

-

Other debtors

200

200

 

1,063

200

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

24,369

17,202

Accruals and deferred income

813

763

Other creditors

762

724

25,944

18,689

7

Provisions for liabilities

Deferred tax
£

Total
£

At 1 July 2023

11,209

11,209

Increase (decrease) in existing provisions

3,102

3,102

At 30 June 2024

14,311

14,311

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

ordinary A shares of £1 each

130

130

130

130

ordinary B shares of £1 each

70

70

70

70

 

200

200

200

200