Gower Ventures Limited Filleted accounts for Companies House (small and micro)

GOWER VENTURES LIMITED - Company Information

2 false false true false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,299 911 4,210 825 810 1,635 2,575 2,474 1,002 500,000 501,002 501,002 1,002 xbrli:pure xbrli:shares iso4217:GBP 07927625 2022-07-01 2023-06-30 07927625 2023-06-30 07927625 2022-06-30 07927625 2021-07-01 2022-06-30 07927625 2022-06-30 07927625 2021-06-30 07927625 bus:Director1 2022-07-01 2023-06-30 07927625 core:WithinOneYear 2023-06-30 07927625 core:WithinOneYear 2022-06-30 07927625 core:ShareCapital 2023-06-30 07927625 core:ShareCapital 2022-06-30 07927625 core:RetainedEarningsAccumulatedLosses 2023-06-30 07927625 core:RetainedEarningsAccumulatedLosses 2022-06-30 07927625 core:CostValuation core:Non-currentFinancialInstruments 2022-06-30 07927625 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-06-30 07927625 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 07927625 core:Non-currentFinancialInstruments 2023-06-30 07927625 core:Non-currentFinancialInstruments 2022-06-30 07927625 bus:SmallEntities 2022-07-01 2023-06-30 07927625 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 07927625 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 07927625 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07927625 bus:FullAccounts 2022-07-01 2023-06-30 07927625 core:OfficeEquipment 2022-07-01 2023-06-30 07927625 core:OfficeEquipment 2022-06-30 07927625 core:OfficeEquipment 2023-06-30 07927625 core:KeyManagementPersonnel 2022-07-01 2023-06-30 07927625 core:AllAssociates 2022-07-01 2023-06-30

COMPANY REGISTRATION NUMBER: 07927625

Gower Ventures Limited

Filleted Unaudited Financial Statements

30 June 2023

Gower Ventures Limited

Financial Statements

Year ended 30 June 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Gower Ventures Limited

Statement of Financial Position

30 June 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	2,575	2,474
Investments	6	501,002	1,002
		---------	-------
		503,577	3,476

Current assets

Debtors	7	1,141,648	296,182
Cash at bank and in hand		79,159	18,681
		------------	---------
		1,220,807	314,863

Creditors: amounts falling due within one year	8	1,668,309	305,148
		------------	---------
Net current (liabilities)/assets		( 447,502)	9,715
		---------	--------
Total assets less current liabilities		56,075	13,191
		--------	--------
Net assets		56,075	13,191
		--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	55,975	13,091
	--------	--------
Shareholders funds	56,075	13,191
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Gower Ventures Limited

Statement of Financial Position (continued)

30 June 2023

These financial statements were approved by the board of directors and authorised for issue on 21 March 2024 , and are signed on behalf of the board by:

Mr M A Perera

Director

Company registration number: 07927625

Gower Ventures Limited

Notes to the Financial Statements

Year ended 30 June 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from work undertaken is recognised by reference to the stage of completion where this can be reliably calculated.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).

5. Tangible assets

	Equipment
	£
Cost
At 1 July 2022	3,299
Additions	911
	-------
At 30 June 2023	4,210
	-------
Depreciation
At 1 July 2022	825
Charge for the year	810
	-------
At 30 June 2023	1,635
	-------
Carrying amount
At 30 June 2023	2,575
	-------
At 30 June 2022	2,474
	-------

6. Investments

	Shares in participating interests
	£
Cost
At 1 July 2022	1,002
Additions	500,000
	---------
At 30 June 2023	501,002
	---------
Impairment
At 1 July 2022 and 30 June 2023	–
	---------

Carrying amount
At 30 June 2023	501,002
	---------
At 30 June 2022	1,002
	---------

7. Debtors

	2023	2022
	£	£
Other debtors	1,141,648	296,182
	------------	---------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	3,330	1,464
Corporation tax	10,132	3,515
Social security and other taxes	544	–
Other creditors	1,654,303	300,169
	------------	---------
	1,668,309	305,148
	------------	---------

9. Related party transactions

At the balance sheet date the company owed the directors £1,653,103 (2022: £298,969). At the balance sheet date the company was owed £1,125,000 (2022: £295,136) by a company associated by common directorship. At the balance sheet date the company was owed £16,648 (2022: £Nil) by a company associated by common directorship.