Venn & Sons Ltd - Accounts to registrar (filleted) - small 18.2
Venn & Sons Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period |
| 1 January 2021 to 28 February 2022 |
| for |
| Venn & Sons Ltd |
| Venn & Sons Ltd (Registered number: 04595714) |
| Contents of the Financial Statements |
| for the Period 1 January 2021 to 28 February 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Venn & Sons Ltd |
| Company Information |
| for the Period 1 January 2021 to 28 February 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountancy & Taxation Advisers |
| Bank Chambers |
| Brook Street |
| Bishops Waltham |
| Hampshire |
| SO32 1AX |
| Venn & Sons Ltd (Registered number: 04595714) |
| Balance Sheet |
| 28 February 2022 |
| 28.2.22 | 31.12.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 7 |
| 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. |
| Venn & Sons Ltd (Registered number: 04595714) |
| Balance Sheet - continued |
| 28 February 2022 |
| 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 |
| Venn & Sons Ltd (Registered number: 04595714) |
| Notes to the Financial Statements |
| for the Period 1 January 2021 to 28 February 2022 |
| 1. | STATUTORY INFORMATION |
| Venn & Sons Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. |
| Tangible fixed assets |
| Plant & machinery | - |
| Fixtures & fittings | - |
| Motor vehicles | - |
| Computer & office equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. |
| Cash and cash equivalents |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| Creditors |
| Short term creditors are measured at the transaction price. |
| Taxation |
| Taxation for the period 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 balance sheet date. |
| Venn & Sons Ltd (Registered number: 04595714) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2021 to 28 February 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 period 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Employee benefits |
| Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | TANGIBLE FIXED ASSETS |
| Computer |
| Plant & | Fixtures | Motor | & office |
| machinery | & fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2021 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
| At 28 February 2022 |
| DEPRECIATION |
| At 1 January 2021 |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) | ( |
) |
| At 28 February 2022 |
| NET BOOK VALUE |
| At 28 February 2022 |
| At 31 December 2020 |
| Venn & Sons Ltd (Registered number: 04595714) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2021 to 28 February 2022 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 January 2021 |
| Disposals | ( |
) |
| At 28 February 2022 |
| DEPRECIATION |
| At 1 January 2021 |
| Eliminated on disposal | ( |
) |
| At 28 February 2022 |
| NET BOOK VALUE |
| At 28 February 2022 |
| At 31 December 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.22 | 31.12.20 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.22 | 31.12.20 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | PROVISIONS FOR LIABILITIES |
| 28.2.22 | 31.12.20 |
| £ | £ |
| Deferred taxation | - | 7,519 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2021 |
| Movement in accelerated |
| capital allowances | (7,519 | ) |
| Balance at 28 February 2022 |
| Venn & Sons Ltd (Registered number: 04595714) |
| Notes to the Financial Statements - continued |
| for the Period 1 January 2021 to 28 February 2022 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 28.2.22 | 31.12.20 |
| value: | £ | £ |
| Ordinary A | £1 | 100 | 100 |
| Ordinary B | £1 | 100 | 100 |
| 200 | 200 |
| 9. | RELATED PARTY DISCLOSURES |
| The company is owned and controlled by M Venn and G Venn, the directors of the company. |