Native Technical Ventures Limited - Accounts to registrar (filleted) - small 23.1.2

Native Technical Ventures Limited - Accounts to registrar (filleted) - small 23.1.2

NATIVE TECHNICAL VENTURES LIMITED - Company Information

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REGISTERED NUMBER: 12689820 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2021 TO 30 SEPTEMBER 2022

FOR

NATIVE TECHNICAL VENTURES LIMITED
THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ








NATIVE TECHNICAL VENTURES LIMITED (REGISTERED NUMBER: 12689820)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2021 TO 30 SEPTEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NATIVE TECHNICAL VENTURES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JULY 2021 TO 30 SEPTEMBER 2022







DIRECTOR: G Wales





REGISTERED OFFICE: The Old Court House
191 High Road
South Woodford
London
E18 2QF





REGISTERED NUMBER: 12689820 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ
Page 1
NATIVE TECHNICAL VENTURES LIMITED (REGISTERED NUMBER: 12689820)

BALANCE SHEET
30 SEPTEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,713 954

CURRENT ASSETS
Debtors 5 175,293 25,925
Cash at bank and in hand 44,998 4,520
220,291 30,445
CREDITORS
Amounts falling due within one year 6 126,218 19,596
NET CURRENT ASSETS 94,073 10,849
TOTAL ASSETS LESS CURRENT
LIABILITIES
97,786
11,803

PROVISIONS FOR LIABILITIES 928 -
NET ASSETS 96,858 11,803

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 96,758 11,703
96,858 11,803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2022 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 27 April 2023 and were signed by:





G Wales - Director


The notes form part of these financial statements

Page 2
NATIVE TECHNICAL VENTURES LIMITED (REGISTERED NUMBER: 12689820)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JULY 2021 TO 30 SEPTEMBER 2022


1. STATUTORY INFORMATION

Native Technical Ventures 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.

Revenue recognition
Turnover represents net invoiced sales of goods and services, excluding value added tax. Where a job has only been partially completed at the balance sheet date turnover represents the value of the goods and services provided to date based on a proportion of the total consideration at completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Depreciation commences in the month of acquisition.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2021 - 3 ) .

Page 3 continued...
NATIVE TECHNICAL VENTURES LIMITED (REGISTERED NUMBER: 12689820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2021 TO 30 SEPTEMBER 2022


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2021 - 1,041 1,041
Additions 1,018 2,580 3,598
At 30 September 2022 1,018 3,621 4,639
DEPRECIATION
At 1 July 2021 - 87 87
Charge for period 102 737 839
At 30 September 2022 102 824 926
NET BOOK VALUE
At 30 September 2022 916 2,797 3,713
At 30 June 2021 - 954 954

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 135,775 25,825
Director's current account 21,929 -
VAT 3,392 -
Called up share capital not paid - 100
Prepayments 14,197 -
175,293 25,925

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Loans and overdrafts 28,627 -
Trade creditors 17,277 -
Corporation tax 21,940 2,847
Social security and other taxes 11,597 6,907
VAT - 7,842
Other creditors 12,041 -
Accrued expenses 34,736 2,000
126,218 19,596

7. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Loans and overdrafts 28,627 -

The loans and overdrafts are secured by the director's personal guarantee.

Page 4 continued...
NATIVE TECHNICAL VENTURES LIMITED (REGISTERED NUMBER: 12689820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JULY 2021 TO 30 SEPTEMBER 2022


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the periods ended 30 September 2022 and 30 June 2021:

2022 2021
£    £   
G Wales
Balance outstanding at start of period - -
Amounts advanced 21,929 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 21,929 -

Interest was charged on director's loan at HMRC official rate of 2%. The director's loan was paid back in April 2023.

9. FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102 Section 1A. The last financial statements under FRS 105 were for the period ended 30 June 2021. The date of transition to FRS 102 (1A) was 1 July 2020. There were no significant changes in accounting policies as the result of transition to FRS 102 (1A) and the comparative figures are unchanged.

10. CHANGE OF ACCOUNTING PERIOD

The Company has extended its accounting period to 30 September 2022. The profit and loss figures shown in these accounts therefore represent a Fifteen-month period and are not comparable.

Page 5