Company Registration No. 09604502 (England and Wales)
Venditan Limited
Unaudited accounts
for the year ended 31 December 2022
Venditan Limited
Unaudited accounts
Contents
Venditan Limited
Statement of financial position
as at 31 December 2022
Intangible assets
1,005,950
1,416,400
Tangible assets
8,667
12,949
Cash at bank and in hand
127,218
264,223
Creditors: amounts falling due within one year
(218,252)
(210,652)
Net current assets
241,746
465,971
Total assets less current liabilities
1,256,363
1,895,320
Creditors: amounts falling due after more than one year
-
(44,487)
Provisions for liabilities
Net assets
1,254,196
1,850,833
Called up share capital
1
1
Profit and loss account
1,254,195
1,850,832
Shareholders' funds
1,254,196
1,850,833
For the year ending 31 December 2022 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.
The financial statements were approved by the Board and authorised for issue on 28 September 2023 and were signed on its behalf by
Mr C A Maule
Director
Company Registration No. 09604502
Venditan Limited
Notes to the Accounts
for the year ended 31 December 2022
Venditan Limited is a private company, limited by shares, registered in England and Wales, registration number 09604502. The registered office is Wework, One St. Peter's Square, Manchester, M2 3DE.
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.
Research and development expenditure incurred in the year has been expensed.
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 2022
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 2022
3,872,778
At 31 December 2022
3,872,778
At 1 January 2022
2,456,378
Charge for the year
410,450
At 31 December 2022
2,866,828
At 31 December 2022
1,005,950
At 31 December 2021
1,416,400
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2022
113,024
40,710
153,734
At 31 December 2022
120,336
40,710
161,046
At 1 January 2022
101,348
39,437
140,785
Charge for the year
10,564
1,030
11,594
At 31 December 2022
111,912
40,467
152,379
At 31 December 2022
8,424
243
8,667
At 31 December 2021
11,676
1,273
12,949
Amounts falling due within one year
Trade debtors
323,965
407,399
Accrued income and prepayments
8,175
-
Venditan Limited
Notes to the Accounts
for the year ended 31 December 2022
7
Creditors: amounts falling due within one year
2022
2021
Trade creditors
21,774
69,067
Taxes and social security
123,452
41,843
8
Creditors: amounts falling due after more than one year
2022
2021
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 Wework, One St. Peter's Square, Manchester, United Kingdom, M2 3DE.
11
Average number of employees
During the year the average number of employees was 23 (2021: 24).