Company Registration No. 09604502 (England and Wales)
Venditan Limited
Unaudited accounts
for the year ended 31 December 2018
Venditan Limited
Unaudited accounts
Contents
Venditan Limited
Statement of financial position
as at
31 December 2018
Intangible assets
1,261,308
1,133,132
Tangible assets
48,003
55,837
Debtors
904,557
1,169,833
Cash at bank and in hand
521,383
251,003
Creditors: amounts falling due within one year
(148,815)
(413,430)
Net current assets
1,282,062
1,007,406
Net assets
2,591,373
2,196,375
Called up share capital
1
1
Profit and loss account
2,591,372
2,196,374
Shareholders' funds
2,591,373
2,196,375
For the year ending 31 December 2018 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 25 September 2019.
MR C A Maule
Director
Company Registration No. 09604502
Venditan Limited
Notes to the Accounts
for the year ended 31 December 2018
Venditan Limited is a private company, limited by shares, registered in England and Wales, registration number 09604502. The registered office is 60 Fountain Street, Manchester, M2 2FE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
3 years straight line
Fixtures & fittings
5 years straight line
Development costs are capitalised within intangible assets where they relate to specific projects for which future economic benefit is anticipated. The capitalised research and development costs are amortised on a straight line basis over a period of 5 years.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Venditan Limited
Notes to the Accounts
for the year ended 31 December 2018
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other
At 1 January 2018
1,831,345
At 31 December 2018
2,319,657
At 1 January 2018
698,213
Charge for the year
360,136
At 31 December 2018
1,058,349
At 31 December 2018
1,261,308
At 31 December 2017
1,133,132
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2018
59,317
35,559
94,876
Additions
13,064
3,936
17,000
At 31 December 2018
72,381
39,495
111,876
At 1 January 2018
31,522
7,517
39,039
Charge for the year
16,530
8,304
24,834
At 31 December 2018
48,052
15,821
63,873
At 31 December 2018
24,329
23,674
48,003
At 31 December 2017
27,795
28,042
55,837
Venditan Limited
Notes to the Accounts
for the year ended 31 December 2018
Trade debtors
204,457
69,732
Amounts due from group undertakings etc.
100
100
Other debtors
700,000
1,100,001
Amounts due after more than one year
300,000
700,000
8
Creditors: amounts falling due within one year
2018
2017
Trade creditors
58,831
79,837
Taxes and social security
89,984
327,460
9
Share capital
2018
2017
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
The company is a wholly owned subsidiary of Venditan Group Limited, a company incorporated in England & Wales with its register office at 60 Fountain St, Manchester M2 2FE.
11
Average number of employees
During the year the average number of employees was 22 (2017: 19).