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Venture Elements Ltd
Registered Number:11559989
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2024
Venture Elements Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
11559989
As at 31 March 2024
Venture Elements Ltd
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
7,704
7,941
2
7,704
7,941
Current assets
Trade and other receivables
2,077
1,600
3
2,878
Cash and cash equivalents
1,330
2,930
4,955
Trade and other payables: amounts falling due within one year
(27,579)
(10,425)
4
(22,624)
(7,495)
Net current liabilities
Total assets less current liabilities
209
(14,683)
209
Net assets/liabilities
(14,683)
Capital and reserves
Called up share capital
2
2
Retained earnings
207
(14,685)
209
(14,683)
Shareholders' funds
For the year ended 31 March 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 of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Matthew Telling Director
These financial statements were approved and authorised for issue by the Board on 21 January 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2024
Venture Elements Ltd
Notes to the Financial Statements
Statutory Information
Venture Elements Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number
11559989.
Registered address:
218 Totley Brook Road
Sheffield
S17 3QY
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Property, plant and equipment
Property, plant and equipment, 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:
Plant and Machinery
5 years Straight line
33% Reducing balance
Furniture and Fittings
2. Property, plant and equipment
Total
Furniture and
Fittings
Plant and
Machinery
£
£
£
Cost or valuation
At 01 April 2023
14,869
1,069
13,800
1,739
-
1,739
Additions
At 31 March 2024
15,539
1,069
16,608
Provision for depreciation and impairment
At 01 April 2023
6,928
767
6,161
Charge for year
1,976
100
1,876
At 31 March 2024
8,904
867
8,037
At 31 March 2024
Net book value
7,502
202
7,704
At 31 March 2023
7,639
302
7,941
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5
For the year ended 31 March 2024
Venture Elements Ltd
Notes to the Financial Statements Continued
3. Trade and other receivables
2023
2024
£
£
Trade debtors
1,600
1,600
Other debtors
-
477
2,077
1,600
4. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Other creditors
10,425
27,579
5. Average number of persons employed
During the year the average number of employees was 1 (2023 : 1)
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