Venture Severn Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07629071 (England and Wales)

Abbreviated Accounts for the Year Ended 31 May 2014

for

Venture Severn Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

P A Seymour

REGISTERED OFFICE:

Vine Works

Farrier Street

Worcester

WR1 3BH

REGISTERED NUMBER:

07629071 (England and Wales)

ACCOUNTANTS:

Matthew Squire (AFA) & Company

32 The Tything

Worcester

Worcestershire

WR1 1JL

FIXED ASSETS

Tangible assets

2

311

-

CURRENT ASSETS

Debtors

37,943

64,726

Prepayments and accrued income

1,588

535

Cash in hand

392

142

39,923

65,403

CREDITORS

Amounts falling due within one year

39,142

61,050

NET CURRENT ASSETS

781

4,353

TOTAL ASSETS LESS CURRENT LIABILITIES

1,092

4,353

PROVISIONS FOR LIABILITIES

62

-

NET ASSETS

1,030

4,353

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

1,028

4,351

SHAREHOLDERS' FUNDS

1,030

4,353

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 27 February 2015 and were signed by:

P A Seymour - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date

where transactions or events have occurred at that date will result in an obligation to pay more, or a right to pay less or to

receive more, tax, with the following exceptions:

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will

be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the

lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

465

At 31 May 2014

465

DEPRECIATION

Charge for year

154

At 31 May 2014

154

NET BOOK VALUE

At 31 May 2014

311

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.14

31.5.13

value:

£

£

2

Ordinary

£1

2

2

4.	RELATED PARTY DISCLOSURES

During the year, total dividends of £17,000 (2013 - £9,400) were paid to the director .