VENTURE PRECISION ENGINEERING LIMITED


Director	Mr D H Stanton


Company Secretary	Mrs L M Stanton


Registered Address	3 Ferry Road
	Shoreham-By-Sea
	BN43 5RA


Registered Number	05883597 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		2,250		3,000
Tangible assets	4		21,933		24,188
			24,183		27,188
Current assets
Debtors	5	840		1,126
Cash at bank and on hand		1,508		4,737
		2,348		5,863
Creditors amounts falling due within one year	6	(6,475)		(3,161)
Net current assets (liabilities)			(4,127)		2,702
Total assets less current liabilities			20,056		29,890
Creditors amounts falling due after one year	7		(17,545)		(21,500)
Net assets			2,511		8,390
Capital and reserves
Called up share capital			100		100
Profit and loss account			2,411		8,290
Shareholders' funds			2,511		8,390

The company was entitled to exemption from audit for this reporting period 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 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 22 August 2025, and are signed on its behalf by:

Mr D H Stanton
Director
Registered Company No. 05883597

VENTURE PRECISION ENGINEERING LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Plant and machinery	10
	Fixtures and fittings	15
	Office Equipment	15

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 January 24	15,000	15,000
At 31 December 24	15,000	15,000
Amortisation and impairment
At 01 January 24	12,000	12,000
Charge for year	750	750
At 31 December 24	12,750	12,750
Net book value
At 31 December 24	2,250	2,250
At 31 December 23	3,000	3,000

4.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 24	94,675	5,122	2,409	102,206
Additions	-	-	274	274
At 31 December 24	94,675	5,122	2,683	102,480
Depreciation and impairment
At 01 January 24	71,892	4,186	1,940	78,018
Charge for year	2,278	140	111	2,529
At 31 December 24	74,170	4,326	2,051	80,547
Net book value
At 31 December 24	20,505	796	632	21,933
At 31 December 23	22,783	936	469	24,188

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	-	966
Other debtors	840	160
Total	840	1,126

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	5,581	347
Taxation and social security	54	1,974
Accrued liabilities and deferred income	840	840
Total	6,475	3,161

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Other creditors	17,545	21,500
Total	17,545	21,500

8.	Directors advances, credits and guarantees
	At the year end the company owed £19,045 to the director (2023: £21,500). This amount is included in Other Creditors due after more than one year.