Venturian Investments Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 09816979 (England and Wales)

Unaudited Financial Statements

for the Period

8 October 2015 to 31 March 2017

for

Venturian Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S A Lomax

G Allsopp

G L Berks

P R Halliday

Mrs R J Lomax

REGISTERED OFFICE:

Unit 1

Mariner Court

Durkar

Wakefield

West Yorkshire

WF4 3FL

REGISTERED NUMBER:

09816979 (England and Wales)

CURRENT ASSETS

Stocks

379,167

Debtors

4

75,833

Cash in hand

2

455,002

CREDITORS

Amounts falling due within one year

5

455,850

NET CURRENT LIABILITIES

(848

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(848

)

CAPITAL AND RESERVES

Called up share capital

6

2

Retained earnings

(850

)

SHAREHOLDERS' FUNDS

(848

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 4 July 2017 and were signed on its behalf by:

G L Berks - Director

1.	STATUTORY INFORMATION

Venturian Investments 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 principal activity of the company is trading in luxury vehicles.

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 UK and Republic of Ireland" and the Companies Act

2006 as applicable to companies subject to the small companies regime. The disclosure requirements

of section 1A of FRS102 have been applied other than where additional disclosure is required to give a

true and fair view.

The financial statements have been prepared under the historical cost convention.

The company has chosen to early adopt SI 2015/980.

The functional and presentational currency of the company is considered to be pounds sterling.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent

to the net realisable value. Cost includes finished goods and is calculated using the FIFO (first-in,

first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date where transactions or events that result in an obligation to pay more tax in the

future or a right to pay less tax in the future have occurred at the balance sheet date. Timing

differences are differences between the company's taxable profits and its results as stated in the

financial statements that arise from the inclusion of gains and losses in tax assessments in periods

different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis

of all available evidence, it can be regarded as more likely than not that there will be suitable taxable

profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the

contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in

the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction

costs), except for those financial assets classified as at fair value through profit and loss, which are

initially measured at fair value (which is normally the transaction price excluding transaction costs),

unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing

transaction, the financial asset or financial liability is measured at the present value of the future

payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other

debtors, cash and bank balances, trade creditors, other creditors, bank loans and inter-company

balances.

Cash and other creditors are measured at the amortised cost equivalent to the undiscounted amount

of cash or other consideration expected to be paid or received.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each

balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in

profit and loss as described below.

Non financial assets

An asset is impaired when there is objective evidence that, as a result of one or more events that

occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The

recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the

asset's carrying amount and the best estimate of the amount that would be received for the asset if it

were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively

to an event occurring after the impairment was recognised, the prior impairment loss is tested to

determine reversal. An impairment loss is reversed on an individual impaired financial asset to the

extent that the revised recoverable value does not lead to a revised carrying amount higher than the

carrying value had the impairment loss not been recognised

Critical accounting judgements and sources of estimation uncertainty

In the application of the Company's accounting policies, management is required to make judgements,

estimates and assumptions about the carrying values of assets and liabilities that are not readily

apparent from other sources. The estimates and associated assumptions are based on historical

experience and other factors that are considered to be relevant. Actual results may differ from these

estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects both

current and future periods.

The critical judgements that the directors have made in applying the company's accounting policies

and the key sources of estimation uncertainty that have had the most significant effect on the amounts

recognised in the financial statements are described below:

Net realisable value of stock

The company establishes an impairment provision for stock estimated to realise a lower value than

cost. When calculating the stock provision, management considers the nature and condition of the

stock, as well as applying assumptions around anticipated saleability of stock and its estimated selling

value less costs expected to be incurred to sell the item. The directors also consider the purchase

history of stock items to assess whether the items remain in use.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

75,833

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

455,850

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

Ordinary

£1

2

2 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.