Venus Credit Capital Limited Accounts

VENUS CREDIT CAPITAL LIMITED - Company Information






Venus Credit Capital Limited

	Company No. 10607576
		Information for Filing with The Registrar
		28 February 2023

at	28 February 2023
Company No.		10607576	Notes	2023	2022
				£	£
Fixed assets

	Tangible assets		4	7,639	8,355


				7,639	8,355
Current assets

	Debtors			11,500	6,568

	Cash at bank and in hand			434	20,665
				11,934	27,233
Creditors: Amount falling due within one year				(203,225)	(272,981)
Net current liabilities				(191,291)	(245,748)
Total assets less current liabilities				(183,652)	(237,393)
Creditors: Amounts falling due after more than one year				(146,886)	(133,000)



Net liabilities				(330,538)	(370,393)

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		6	(330,638)	(370,493)

Total equity				(330,538)	(370,393)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

All the members have consented to the preparation of abridged financial statements for the year ended 28 February 2023 in accordance with the Companies Act 2006.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 19 November 2023
And signed on its behalf by:
S. Muramalla
Director
19 November 2023

for the year ended 28 February 2023

General information

Venus Credit Capital Limited is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 10607576

Its registered office is:

04 Whitchurch Parade

Whitchurch Lane

Edgware

HA8 6LR

The abridged accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006, including the provisions permitting an abridged profit and loss accountant balance sheet to be prepared.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

10% Straight line

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

3	Employees
			2023	2022
			Number	Number
		The average monthly number of employees (including directors) during the year was:	4	4

4	Tangible fixed assets
			Total
			£
		Cost or revaluation
		At 1 March 2022	13,150
		Additions	665



		At 28 February 2023	13,815
		Depreciation
		At 1 March 2022	4,795
		Charge for the year	1,381



		At 28 February 2023	6,176
		Net book values
		At 28 February 2023	7,639
		At 28 February 2022	8,355

Share Capital

100 ordinary share of £1 each

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.