| REGISTERED NUMBER: |
| DVA Ventures Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| REGISTERED NUMBER: |
| DVA Ventures Limited |
| Unaudited Financial Statements |
| for the Year Ended 31 August 2024 |
| DVA Ventures Limited (Registered number: 11503099) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| DVA Ventures Limited |
| Company Information |
| for the Year Ended 31 August 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Sterling House |
| 97 Lichfield Street |
| Tamworth |
| Staffordshire |
| B79 7QF |
| DVA Ventures Limited (Registered number: 11503099) |
| Balance Sheet |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps 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 Sections 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. |
| DVA Ventures Limited (Registered number: 11503099) |
| Balance Sheet - continued |
| 31 August 2024 |
| The financial statements were approved by the director and authorised for issue on |
| DVA Ventures Limited (Registered number: 11503099) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| DVA Ventures Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| The company makes estimates nd assumptions concerning the future. Management are also required to exercise judgement in the process of applying the company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under circumstances. |
| The estimates and assumption that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are addressed below: |
| In preparing these financial statements, the directors have made the following judgements: |
| - A provision is recognised when the company has a present legal or constructive obligation as a result of a past even for which it is probable that an outflow of resources will ne required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value or money and the risks specific to the liability. |
| - Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ and management's judgment is applied regarding the nature and extent of obligations in deciding if outflow of resources is probable or not. |
| - Sales ledger debt provisions. Management review debts on a case by case basis to highlight deviation from terms and therefore possible provision requirement. |
| - Depreciation and residual values. The directors have reviewed the asset lives and associated residual values of all fixed asset classes, and in particular, the useful economic life and residual vales of fixtures and fittings, and have concluded that asset lives are appropriate. The actual lives of the assets are assessed annually an may vary depending on a number of factors. In re-assessing the asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Work performed but not yet invoiced is also accounted for within turnover and treated as work in progress in the Balance Sheet. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 2019, was amortised over its estimated useful life of two years. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| DVA Ventures Limited (Registered number: 11503099) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Debtors |
| Short-term debtors are measured at the transactional price, less any impairment. Loans receivable are measured initially at fair value, next of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
| Creditors |
| Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loan, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| DVA Ventures Limited (Registered number: 11503099) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| AMORTISATION |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 September 2023 |
| Additions |
| Disposals | ( |
) |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 6. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| DVA Ventures Limited (Registered number: 11503099) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| A Ordinary | £1 | 95 | 95 |
| B Ordinary | £1 | 2 | 1 |
| C Ordinary | £1 | 5 | 5 |
| 102 | 101 |
| 1 B Ordinary share of £1 was allotted as fully paid |
| DVA Ventures Limited (Registered number: 11503099) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| There are no fixed terms for repayment of these loans but they are repayble on demand and non-interest bearing. |
| 13. | RELATED PARTY DISCLOSURES |
| As well as the advances to directors noted separately, loans totalling £nil (2023 - £21,136) are outstanding from connected parties. These loans are interest free and repayable on demand. |