Company Registration No. 09604502 (England and Wales)
Venditan Limited
Unaudited accounts
for the year ended 31 December 2017
Venditan Limited
Unaudited accounts
Contents
Venditan Limited
Statement of financial position
as at
31 December 2017
Intangible assets
1,133,132
1,206,589
Tangible assets
55,837
15,391
Debtors
1,169,833
343,664
Cash at bank and in hand
251,003
141,026
Creditors: amounts falling due within one year
(413,430)
(318,297)
Net current assets
1,007,406
166,393
Total assets less current liabilities
2,196,375
1,388,373
Provisions for liabilities
Net assets
2,196,375
1,384,725
Called up share capital
1
1
Profit and loss account
2,196,374
1,384,724
Shareholders' funds
2,196,375
1,384,725
For the year ending 31 December 2017 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 28 September 2018.
MR C A Maule
Director
Company Registration No. 09604502
Venditan Limited
Notes to the Accounts
for the year ended 31 December 2017
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 2017
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 2017
1,604,450
At 31 December 2017
1,831,345
At 1 January 2017
397,861
Charge for the year
300,352
At 31 December 2017
698,213
At 31 December 2017
1,133,132
At 31 December 2016
1,206,589
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2017
26,735
-
26,735
Additions
50,016
35,559
85,575
Disposals
(17,434)
-
(17,434)
At 31 December 2017
59,317
35,559
94,876
At 1 January 2017
11,344
-
11,344
Charge for the year
20,178
7,517
27,695
At 31 December 2017
31,522
7,517
39,039
At 31 December 2017
27,795
28,042
55,837
At 31 December 2016
15,391
-
15,391
Trade debtors
69,732
337,425
Amounts due from group undertakings etc.
100
100
Other debtors
1,100,001
6,139
Amounts due after more than one year
700,000
-
Venditan Limited
Notes to the Accounts
for the year ended 31 December 2017
7
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
-
1,531
Trade creditors
79,837
78,717
Taxes and social security
327,460
130,993
Other creditors
6,133
7,056
Loans from directors
-
100,000
8
Deferred taxation
2017
2016
Accelerated capital allowances
3,648
3,648
Tax losses carried forward
(3,648)
-
Provision at start of year
3,648
3,648
Credited to the profit and loss account
(3,648)
-
Provision at end of year
-
3,648
9
Share capital
2017
2016
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 19 (2016: 43).