Ventura Sol Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08646923 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019

FOR

VENTURA SOL LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Mrs L C G Morgan

C E Morgan

REGISTERED OFFICE:

Cawdor Hotel

72 Rhosmaen Street

Llandeilo

Swansea

SA19 6EN

REGISTERED NUMBER:

08646923 (England and Wales)

ACCOUNTANTS:

Andorran Limited

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

FIXED ASSETS

Tangible assets

4

-

2,263,146

Investments

5

4,455

2,267,601

CURRENT ASSETS

Debtors

40,706

6,325

Cash at bank

351,039

57,380

391,745

63,705

CREDITORS

Amounts falling due within one year

(310,331

)

(2,271,322

)

NET CURRENT ASSETS/(LIABILITIES)

81,414

(2,207,617

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

85,869

59,984

CAPITAL AND RESERVES

Called up share capital

6

2

Retained earnings

85,867

59,982

SHAREHOLDERS' FUNDS

85,869

59,984

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 September 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2020
and were signed on its behalf by:

Mrs L C G Morgan - Director

1.	STATUTORY INFORMATION

Ventura Sol Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Freehold property in tangible fixed assets is revalued every year.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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 statement of financial position date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 1 ).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2018

2,263,146

Disposals

(299,526

)

Reclassification/transfer

(1,963,620

)

At 30 September 2019

-

NET BOOK VALUE

At 30 September 2019

-

At 30 September 2018

2,263,146

Legal documentation relating to two of the freehold properties previously shown in the assets of the

company was finalised during the year, as part of which it was recognised that this company never

had beneficial title to the properties. The entries transferring them into the company in an earlier year

via an inter-company account has been reversed in these financial statements. A third, unconnected,

property was disposed of in a third party sale.

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 October 2018

and 30 September 2019

4,455

NET BOOK VALUE

At 30 September 2019

4,455

At 30 September 2018

4,455

The company's investments at the Statement of Financial Position date in the share capital of

companies include the following:

Venturasol Unipessoal LDA

Registered office: Lagoa (Algarve) - Portugal

Nature of business: Holiday Lettings

%

Class of shares:

holding

Ordinary €1 shares

100.00

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.19

30.9.18

value:

£

2

Ordinary Shares

£1

2

7.	RELATED PARTY DISCLOSURES

OTH Limited, the company's immediate parent undertaking, and a company in which Mrs L C G

Morgan and C E Morgan are both directors, provides working capital to the company. At the end of

the year the outstanding balance due to OTH Limited was £271,949 (2018: £2,230,708). The

advance is unsecured; no terms of interest or repayment have been agreed, although the related

party has agreed not to withdraw its funding to the detriment of other unsecured creditors.

Cawdor Arms Limited, a fellow subsidiary company, and one in which Mrs L C G Morgan and C E

Morgan are both directors, provides working capital to the company. At the end of the year the

outstanding balance due to Cawdor Arms Limited was £30,607 (2018 due from Cawdor Arms Limited:

£19,365). The advance is unsecured; no terms of interest or repayment have been agreed, although

the related party has agreed not to withdraw its funding to the detriment of other unsecured creditors.

Cawdor Estates Limited, a fellow subsidiary company, and one in which Mrs L C G Morgan and C E

Morgan are both directors, has been provided with working capital by the company. At the end of the

year the outstanding balance due from Cawdor Estates Limited was £22,800 (2018: £nil). The

advance is unsecured; no terms of interest or repayment have been agreed.

Venturasol Unipessoal LDA, a wholly-owned subsidiary company registered in Portugal, was provided

with working capital during the year. At the end of the year the outstanding balance due from the

subsidiary company was £13,631 (2018: £nil). The advance is unsecured; no terms of interest or

repayment have been agreed.

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Statement of Financial Position. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Ventura Sol Limited for the year ended 30 September 2019 which comprise the

Income Statement, Abridged Statement of Financial Position and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ventura Sol Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ventura Sol Limited and state those matters that we have agreed to state to the Board of Directors of Ventura Sol Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ventura Sol Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ventura Sol Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ventura Sol Limited. You consider that Ventura Sol Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ventura Sol Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Andorran Limited

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

30 June 2020

Ventura Sol Limited - Accounts to registrar (filleted) - small 18.2

Ventura Sol Limited - Accounts to registrar (filleted) - small 18.2