Company Registration No. 11729235 (England and Wales)
Ventriks Ltd
Unaudited accounts
for the year ended 31 December 2024
Ventriks Ltd
Unaudited accounts
Contents
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
Ventriks Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
1,060
1,797
Cash at bank and in hand
39,601
171,893
Creditors: amounts falling due within one year
(621,873)
(312,876)
Net current liabilities
(457,488)
(125,123)
Net liabilities
(455,255)
(122,153)
Called up share capital
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
Ventriks Ltd
Notes to the Accounts
for the year ended 31 December 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 in subsidiaries are included at cost.
Expenditure on research and development is written off in the year in which it is incurred.
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
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
5
Investments
Subsidiary undertakings
Valuation at 1 January 2024
1,173
Valuation at 31 December 2024
1,173
Amounts falling due within one year
Accrued income and prepayments
6,563
15,860
Ventriks Ltd
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024
2023
Loans from directors
609,881
305,556
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
3,698,635 Preference of £0.001 each
3,698.63
3,698.63
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).