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Company Registration No. 05597440 (England and Wales)
Anglo African Ventures Ltd Unaudited accounts for the year ended 31 July 2024
Anglo African Ventures Ltd Unaudited accounts Contents
Page
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Anglo African Ventures Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,529 
1,911 
Current assets
Inventories
6,489 
6,300 
Debtors
1,694 
1,221 
Cash at bank and in hand
8,051 
8,074 
16,234 
15,595 
Creditors: amounts falling due within one year
(140,719)
(137,685)
Net current liabilities
(124,485)
(122,090)
Total assets less current liabilities
(122,956)
(120,179)
Creditors: amounts falling due after more than one year
(5,000)
(10,000)
Net liabilities
(127,956)
(130,179)
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
(127,966)
(130,189)
Shareholders' funds
(127,956)
(130,179)
For the year ending 31 July 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 April 2025 and were signed on its behalf by
Ms G M De Wet Director Company Registration No. 05597440
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Anglo African Ventures Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Anglo African Ventures Ltd is a private company, limited by shares, registered in England and Wales, registration number 05597440. The registered office is Village Stores, Tilton on the Hill, Leicestershire, LE7 9LF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
At the time of approving the accounts, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the accounts.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill) are included at cost less accumulated amortisation. Goodwill, being the amount paid in connection with the acquisition of the business in 2007, is amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on net book value
Inventories
Inventories have been valued at the lower of cost and estimated net realisable value, after making allowance for obsolete or slow moving items..
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Anglo African Ventures Ltd Notes to the Accounts for the year ended 31 July 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2023
58,000 
At 31 July 2024
58,000 
Amortisation
At 1 August 2023
58,000 
At 31 July 2024
58,000 
Net book value
At 31 July 2024
- 
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 August 2023
26,760 
At 31 July 2024
26,760 
Depreciation
At 1 August 2023
24,849 
Charge for the year
382 
At 31 July 2024
25,231 
Net book value
At 31 July 2024
1,529 
At 31 July 2023
1,911 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
209 
- 
Trade debtors
1,485 
1,221 
1,694 
1,221 
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Anglo African Ventures Ltd Notes to the Accounts for the year ended 31 July 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,000 
5,000 
Trade creditors
2,362 
3,001 
Taxes and social security
40 
839 
Other creditors
130,103 
125,756 
Accruals
3,214 
3,089 
140,719 
137,685 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
5,000 
10,000 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
10
Average number of employees
During the year the average number of employees was 8 (2023: 5).
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