23 23 Unicorn Ventures Limited 06213095 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is the licensed trade Digita Accounts Production Advanced 6.30.9574.0 true true 06213095 2023-05-01 2024-04-30 06213095 2024-04-30 06213095 core:CurrentFinancialInstruments 2024-04-30 06213095 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 06213095 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 06213095 core:Goodwill 2024-04-30 06213095 core:FurnitureFittingsToolsEquipment 2024-04-30 06213095 core:LandBuildings 2024-04-30 06213095 core:OtherPropertyPlantEquipment 2024-04-30 06213095 bus:SmallEntities 2023-05-01 2024-04-30 06213095 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06213095 bus:FilletedAccounts 2023-05-01 2024-04-30 06213095 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06213095 bus:RegisteredOffice 2023-05-01 2024-04-30 06213095 bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 06213095 bus:Director1 2023-05-01 2024-04-30 06213095 bus:Director2 2023-05-01 2024-04-30 06213095 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06213095 core:Goodwill 2023-05-01 2024-04-30 06213095 core:FurnitureFittings 2023-05-01 2024-04-30 06213095 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 06213095 core:LandBuildings 2023-05-01 2024-04-30 06213095 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 06213095 countries:EnglandWales 2023-05-01 2024-04-30 06213095 2023-04-30 06213095 core:Goodwill 2023-04-30 06213095 core:FurnitureFittingsToolsEquipment 2023-04-30 06213095 core:LandBuildings 2023-04-30 06213095 core:OtherPropertyPlantEquipment 2023-04-30 06213095 2022-05-01 2023-04-30 06213095 2023-04-30 06213095 core:CurrentFinancialInstruments 2023-04-30 06213095 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 06213095 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 06213095 core:FurnitureFittingsToolsEquipment 2023-04-30 06213095 core:LandBuildings 2023-04-30 06213095 core:OtherPropertyPlantEquipment 2023-04-30 xbrli:pure iso4217:GBP

Registration number: 06213095

Unicorn Ventures Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Unicorn Ventures Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Unicorn Ventures Limited

(Registration number: 06213095)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

5,908

7,508

Current assets

 

Stocks

6

16,219

21,075

Debtors

7

187,026

155,108

Cash at bank and in hand

 

1,721

25,214

 

204,966

201,397

Creditors: Amounts falling due within one year

8

(185,733)

(187,119)

Net current assets

 

19,233

14,278

Total assets less current liabilities

 

25,141

21,786

Creditors: Amounts falling due after more than one year

8

(31,790)

(38,044)

Net liabilities

 

(6,649)

(16,258)

Capital and reserves

 

Called up share capital

1,200

1,200

Retained earnings

(7,849)

(17,458)

Shareholders' deficit

 

(6,649)

(16,258)

 

Unicorn Ventures Limited

(Registration number: 06213095)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 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 and 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 23 April 2025 and signed on its behalf by:
 

.........................................
Mr W Davitt
Director

.........................................
Mrs J Davitt
Director

.........................................
Mr M Farragher
Company secretary and director

 

Unicorn Ventures Limited

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

1

General information

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

The address of its registered office is:
The Victoria
2 Watergate Row North
Chester
Cheshire
CH1 2LD
United Kingdom

These financial statements were authorised for issue by the Board on 23 April 2025.

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

 

Unicorn Ventures Limited

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

Tangible assets

Tangible assets are stated in the balance sheet 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

Fixtures and fittings

15% Straight line

Plant and machinery

15% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Unicorn Ventures Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2023 - 23).

 

Unicorn Ventures Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

111,048

111,048

At 30 April 2024

111,048

111,048

Amortisation

At 1 May 2023

111,048

111,048

At 30 April 2024

111,048

111,048

Carrying amount

At 30 April 2024

-

-

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

1

33,195

21,380

54,576

Additions

-

267

-

267

At 30 April 2024

1

33,462

21,380

54,843

Depreciation

At 1 May 2023

-

25,688

21,380

47,068

Charge for the year

-

1,867

-

1,867

At 30 April 2024

-

27,555

21,380

48,935

Carrying amount

At 30 April 2024

1

5,907

-

5,908

At 30 April 2023

1

7,507

-

7,508

Included within the net book value of land and buildings above is £1 (2023 - £1) in respect of freehold land and buildings.
 

 

Unicorn Ventures Limited

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

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

16,219

21,075

7

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

41,344

41,344

Prepayments

 

13,174

11,346

Other debtors

 

132,508

102,418

   

187,026

155,108

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

19,603

28,049

Trade creditors

 

38,323

37,043

Taxation and social security

 

111,147

83,444

Accruals and deferred income

 

1,418

1,831

Other creditors

 

15,242

36,752

 

185,733

187,119

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £19,603 (2023 - £28,048.85).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

31,790

38,044

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £31,790 (2023 - £38,044.28).