General Information
Venture Harbour Limited is a private company, limited by shares, registered in England and Wales, registration number 08291791, registration address Lytchett House, 13 Freeland Park, Wareham Road, Poole, BH16 6FA.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicles |
20% Reducing Balance
|
| Fixtures and Fittings |
25% Reducing Balance
|
| Computer Equipment |
25% Reducing Balance
|
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 2 (2023 : 6).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 January 2024 |
80,230 |
|
5,964 |
|
33,345 |
|
119,539 |
| Additions |
- |
|
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
|
- |
| At 31 December 2024 |
80,230 |
|
5,964 |
|
33,345 |
|
119,539 |
| Depreciation |
| At 01 January 2024 |
59,548 |
|
5,497 |
|
25,135 |
|
90,180 |
| Charge for year |
4,136 |
|
318 |
|
3,578 |
|
8,032 |
| On disposals |
- |
|
- |
|
- |
|
- |
| At 31 December 2024 |
63,684 |
|
5,815 |
|
28,713 |
|
98,212 |
| Net book values |
| Closing balance as at 31 December 2024 |
16,546 |
|
149 |
|
4,632 |
|
21,327 |
| Opening balance as at 01 January 2024 |
20,682 |
|
467 |
|
8,210 |
|
29,359 |
|
| 4. |
Debtors: amounts falling due within one year
|
2024
£ |
|
2023
£ |
| Trade Debtors |
2,896 |
|
19,724 |
| Prepayments & Accrued Income |
3,340 |
|
2,699 |
| Other Debtors |
73,378 |
|
- |
| VAT |
2,104 |
|
2,618 |
|
81,718 |
|
25,041 |
|
| 4. |
Debtors: amounts falling due after one year
|
2024
£ |
|
2023
£ |
| Accrued Income |
111,945 |
|
112,497 |
|
111,945 |
|
112,497 |
|
| 5. |
Creditors: amount falling due within one year
|
2024
£ |
|
2023
£ |
| Trade Creditors |
- |
|
13,027 |
| Corporation Tax |
273,272 |
|
215,975 |
| Accrued Expenses |
- |
|
1,050 |
| Other Creditors |
- |
|
1,475 |
| Directors' Current Accounts |
3 |
|
2,792 |
|
273,275 |
|
234,319 |
|
| 6. |
Share Capital
Allotted, called up and fully paid
|
2024
£ |
|
2023
£ |
|
1
Class A share of £1.00 each |
1 |
|
1 |
|
1 |
|
1 |
|
| 7. |
Summary of transactions with ultimate parent company
The company has taken advantage of the exemption available per paragraph 33.1A of FRS 102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary of the group.
|
| 8. |
Related Party Transactions
Leadformly Limited is wholly owned and controlled by Mr. M. Taylor, who is also a director of Venture Harbour Limited.
During the year, Leadformly Limited raised invoices totalling £74,853 to Venture Harbour Limited in respect of management charges.
As at the balance sheet date, the amount payable to Venture Harbour Limited was £73,378 (2023: -£1,475).
|
2
|