Registration number: NI669633

Bold Venture Limited

(Registration number: NI669633)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	341,574	217,454
Current assets
Debtors	5	-	1,314
Cash at bank and in hand		798,686	743,810
		798,686	745,124
Creditors: due within one year	6	(590,510)	(544,466)
Net current assets		208,176	200,658
Total assets less current liabilities		549,750	418,112
Creditors: due after more than one year	7	(208,259)	(165,574)
Net assets		341,491	252,538
Capital and reserves
Called up share capital	8	100	100
Retained earnings		341,391	252,438
Shareholders' funds		341,491	252,538

For the financial 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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Bold Venture Limited

(Registration number: NI669633)
Balance Sheet as at 31 December 2024

Approved and authorised by the director on 29 September 2025
 

............................................. Mr John Joe O'Neill Director

Bold Venture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 106 Frosses Road, Ballymoney, BT53 7EJ.

These financial statements were authorised for issue by the director on 29 September 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from the sale of fish and seafood in the course of the company’s activities. Turnover is shown net of sales/value added tax, 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.

Government grants

Revenue grants that do not impose specified future performance-related conditions are recognised when the grant proceeds are received or receivable. Revenue grants subject to performance-related conditions are recognised when these conditions are met.

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.

Bold Venture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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
Motor Vehicles	Reducing balance 15%
Furniture & Fittings	Reducing balance 10%
Boats	Reducing balance 15%
Plant & Equipment	Reducing balance 20%

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

Bold Venture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 1).

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2024	31,660	38,900	275,390	345,950
Additions	13,507	40,325	166,558	220,390
Disposals	-	-	(70,778)	(70,778)
At 31 December 2024	45,167	79,225	371,170	495,562
Depreciation
At 1 January 2024	9,062	15,347	104,087	128,496
Charge for the year	6,151	9,582	31,807	47,540
Eliminated on disposal	-	-	(22,048)	(22,048)
At 31 December 2024	15,213	24,929	113,846	153,988
Carrying amount
At 31 December 2024	29,954	54,296	257,324	341,574
At 31 December 2023	22,598	23,553	171,303	217,454

5

Debtors

	2024 £	2023 £
Other debtors	-	1,314
	-	1,314

Bold Venture Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6	Creditors: due within one year

	2024 £	2023 £
Trade creditors	542,000	494,500
Taxation and social security	28,236	38,583
Accruals and deferred income	18,822	8,672
Other creditors	1,452	2,711
	590,510	544,466

7	Creditors: due after one year

	2024 £	2023 £
Directors loan account	208,259	165,574

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100