1 January 2024 false No description of principal activity Taxfiler 2024.6 11729235 business:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11729235 2023-12-31 11729235 2024-01-01 2024-12-31 11729235 business:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11729235 business:FilletedAccounts 2024-01-01 2024-12-31 11729235 2024-12-31 11729235 business:Director1 2024-01-01 2024-12-31 11729235 business:Director2 2024-01-01 2024-12-31 11729235 business:RegisteredOffice 2024-01-01 2024-12-31 11729235 2023-12-31 11729235 core:WithinOneYear 2024-12-31 11729235 core:WithinOneYear 2023-12-31 11729235 core:ShareCapital core:PreviouslyStatedAmount 2024-12-31 11729235 core:ShareCapital core:PreviouslyStatedAmount 2023-12-31 11729235 core:SharePremium core:PreviouslyStatedAmount 2024-12-31 11729235 core:SharePremium core:PreviouslyStatedAmount 2023-12-31 11729235 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2024-12-31 11729235 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2023-12-31 11729235 core:PreviouslyStatedAmount 2024-12-31 11729235 core:PreviouslyStatedAmount 2023-12-31 11729235 business:SmallEntities 2024-01-01 2024-12-31 11729235 countries:EnglandWales 2024-01-01 2024-12-31 11729235 core:ComputerEquipment 2024-01-01 2024-12-31 11729235 core:ComputerEquipment 2023-12-31 11729235 core:ComputerEquipment 2024-12-31 11729235 business:OrdinaryShareClass1 2024-01-01 2024-12-31 11729235 business:OrdinaryShareClass1 2023-01-01 2023-12-31 11729235 business:OrdinaryShareClass2 2024-01-01 2024-12-31 11729235 business:OrdinaryShareClass2 2023-01-01 2023-12-31 11729235 business:AllOrdinaryShares 2024-01-01 2024-12-31 11729235 business:AllOrdinaryShares 2023-01-01 2023-12-31 11729235 business:PreferenceShareClass1 2024-01-01 2024-12-31 11729235 business:PreferenceShareClass1 2023-01-01 2023-12-31 11729235 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 11729235 (England and Wales)
Ventriks Ltd Unaudited accounts for the year ended 31 December 2024
Ventriks Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Ventriks Ltd Company Information for the year ended 31 December 2024
Directors
R Quigley K N S Rao
Company Number
11729235 (England and Wales)
Registered Office
20-22 Wenlock Road London N1 7GU England
- 3 -
Ventriks Ltd Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
1,060
1,797
Investments
5
1,173
1,173
2,233
2,970
Current assets
Debtors
6
124,784
15,860
Cash at bank and in hand
39,601
171,893
164,385
187,753
Creditors: amounts falling due within one year
7
(621,873)
(312,876)
Net current liabilities
(457,488)
(125,123)
Net liabilities
(455,255)
(122,153)
Capital and reserves
Called up share capital
8
13,699
13,699
Share premium
1,112,301
1,112,301
Profit and loss account
(1,581,255)
(1,248,153)
Shareholders' funds
(455,255)
(122,153)
For the year ending 31 December 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 directors acknowledge their 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 of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by
R Quigley Director Company Registration No. 11729235
- 4 -
Ventriks Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Ventriks Ltd is a private company, limited by shares, registered in England and Wales, registration number 11729235. The registered office is 20-22 Wenlock Road, London, N1 7GU, England.
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.
Consolidation
In the opinion of the directors, the company and its subsidiary undertaking comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.
Investments
Investments in subsidiaries are included at cost.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
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:
Computer equipment
33% Straight Line
- 5 -
Ventriks Ltd Notes to the Accounts for the year ended 31 December 2024
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting polices. In preparing these financial statements, the directors have made the following judgements: Determine whether there are indicators of impairment of the company's investments and tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. Other key sources of estimation uncertainty: Tangible fixed assets (note 4) Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Tangible fixed assets
Computer equipment
£
Cost or valuation
At cost
At 1 January 2024
2,212
At 31 December 2024
2,212
Depreciation
At 1 January 2024
415
Charge for the year
737
At 31 December 2024
1,152
Net book value
At 31 December 2024
1,060
At 31 December 2023
1,797
5
Investments
Subsidiary undertakings
£
Valuation at 1 January 2024
1,173
Valuation at 31 December 2024
1,173
6
Debtors
2024
2023
£
£
Amounts falling due within one year
Trade debtors
15,362
-
Accrued income and prepayments
6,563
15,860
Other debtors
102,859
-
124,784
15,860
- 6 -
Ventriks Ltd Notes to the Accounts for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024
2023
£
£
VAT
11,992
7,320
Loans from directors
609,881
305,556
621,873
312,876
8
Share capital
2024
2023
£
£
Allotted, called up and fully paid:
9,000,000 Ordinary A of £0.001 each
9,000
9,000
1,000,000 Ordinary B of £0.001 each
1,000
1,000
10,000
10,000
3,698,635 Preference of £0.001 each
3,698.63
3,698.63
13,698.63
13,698.63
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).
- 7 -