Venetian Fm Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06905881 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2017

for

Venetian Fm Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms N L Barber

T Grove

M J Reeves

REGISTERED OFFICE:

Unit 10 Jayes Park Courtyard Sheep Green

Ockley

Dorking

Surrey

RH5 5RR

REGISTERED NUMBER:

06905881 (England and Wales)

ACCOUNTANTS:

Bristow Burrell

4 Riverview

Walnut Tree Close

Guildford

Surrey

GU1 4UX

FIXED ASSETS

Tangible assets

4

49,850

23,026

CURRENT ASSETS

Debtors

5

165,836

463,622

Cash at bank

469,880

37,927

635,716

501,549

CREDITORS

Amounts falling due within one year

6

303,423

213,051

NET CURRENT ASSETS

332,293

288,498

TOTAL ASSETS LESS CURRENT LIABILITIES

382,143

311,524

CREDITORS

Amounts falling due after more than one year

7

(21,226

)

-

PROVISIONS FOR LIABILITIES

(9,472

)

(144

)

NET ASSETS

351,445

311,380

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

351,345

311,280

SHAREHOLDERS' FUNDS

351,445

311,380

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 November 2017 and were signed on its behalf by:

M J Reeves - Director

1.	STATUTORY INFORMATION

Venetian Fm 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable,

excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on cost

Taxation

Taxation for the year 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 year 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.

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 year was 6 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 June 2016

9,570

-

25,983

-

35,553

Additions

927

2,250

29,111

2,634

34,922

At 31 May 2017

10,497

2,250

55,094

2,634

70,475

DEPRECIATION

At 1 June 2016

8,629

-

3,898

-

12,527

Charge for year

1,032

329

6,167

570

8,098

At 31 May 2017

9,661

329

10,065

570

20,625

NET BOOK VALUE

At 31 May 2017

836

1,921

45,029

2,064

49,850

At 31 May 2016

941

-

22,085

-

23,026

Fixed assets, included in the above, which are held under hire purchase contracts

are as follows:

Motor

vehicles

£

COST

Additions

29,111

At 31 May 2017

29,111

DEPRECIATION

Charge for year

970

At 31 May 2017

970

NET BOOK VALUE

At 31 May 2017

28,141

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

156,344

298,288

Other debtors

9,492

165,334

165,836

463,622

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

7,278

-

Trade creditors

121,529

99,195

Taxation and social security

170,511

113,856

Other creditors

4,105

-

303,423

213,051

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

21,226

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

At the beginning of the year the Directors Loans owing to the company were

£165,334, these were fully repaid in the year and no balances are outstanding at

the year end.

10.	FIRST YEAR ADOPTION

No accounting policies have changed as a result of the transition to FRS 102. There

has been no change to equity recognised in accordance with the reporting framework

at either the date of transition, 01 June 2015, or the most recent financial

statement date, 31 May 2016. In addition, the transition to FRS 102 has had no

effect on the reported profit of the entity for the year ended 31 May 2016.