Ven4 Limited - Accounts to registrar (filleted) - small 18.2
Ven4 Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
FOR |
VEN4 LIMITED |
VEN4 LIMITED (REGISTERED NUMBER: 09791095) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
VEN4 LIMITED (REGISTERED NUMBER: 09791095) |
BALANCE SHEET |
31 DECEMBER 2019 |
2019 | 2018 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on signed on its behalf by: |
VEN4 LIMITED (REGISTERED NUMBER: 09791095) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
1. | STATUTORY INFORMATION |
Ven4 Limited is a |
registered number and registered office address are as below: |
Registered number: | 09791095 |
Registered office: | Suite 1.14, 1st Floor |
33 Foley Street |
Fitzrovia |
London |
W1W 7TL |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates |
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other |
sources. The estimates and associated assumptions are based on historical experience and other factors that are |
considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates |
are recognised in the period in which the estimate is revised where the revision affects only that period, or in the |
period of the revision and future periods where the revision affects both current and future periods. |
Turnover |
Turnover is the total amount receivable by the company in relation to sales of property stock net of related |
selling expenses and the recharge of utilities to any short-term tenants. |
Stocks |
Stocks and work in progress are stated at the lower of cost and net realisable value. Costs include overheads |
which have been incurred in bringing the stock to its present location and condition. Net realisable value |
represents sales value less appropriate selling costs. |
VEN4 LIMITED (REGISTERED NUMBER: 09791095) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of |
its financial instruments. |
Financial instruments are recognised when the company becomes party to the contractual provisions of the |
instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is |
a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to |
realise the asset and settle the liability simultaneously. |
Basic financial assets, which include trade debtors, other debtors, amounts due from group undertakings and cash |
and bank balances, are initially measured at transaction price including transaction costs and are subsequently |
carried at amortised cost using the effective interest method. Financial assets classified as receivable within one |
year are not amortised. |
Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of |
the company after deducting all of its liabilities. |
Basic financial liabilities, including trade creditors, other creditors, and amounts owed to group undertakings, |
that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a |
financing transaction, where the debt instrument is measured at the present value of the future payments |
discounted at a market rate of interest. |
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, |
cancelled, or they expire. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Going concern |
Based on current trading and future expectations, the directors are confident the company will continue to trade |
profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment. |
VEN4 LIMITED (REGISTERED NUMBER: 09791095) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
Other creditors |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2019 | 2018 |
£ | £ |
Bank loans |
Other loans |
The secured debts are secured on the company's trading stock. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
A | £1 | 2,454,214 | 2,454,214 |
B | £1 | 272,691 | 272,691 |
2,726,905 | 2,726,905 |
VEN4 LIMITED (REGISTERED NUMBER: 09791095) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2019 |
9. | ULTIMATE CONTROLLING PARTY |
The immediate parent companies are Vengrove Real Estate Investment Limited and CL UK RE 2 Ltd, |
companies registered in England and Wales. The directors do not consider there to be a single ultimate |
controlling party. |