Company Registration No. 06051784 (England and Wales)
VENTURE XTREME LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
VENTURE XTREME LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
VENTURE XTREME LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
Fixed assets
Intangible assets
2
503,562
503,562
Current assets
Debtors
30
30
Net current assets
30
30
Total assets less current liabilities
503,592
503,592
Creditors: amounts falling due after more than one year
(503,562)
(503,562)
30
30
Capital and reserves
Called up share capital
3
30
30
Shareholders' funds
30
30
Audit exemption statement
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 26 October 2016
Mr D W Taylor CBE
Director
Company Registration No. 06051784
VENTURE XTREME LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Research and development
Development expenditure incurred on clearly defined projects whose outcome can be assessed with reasonable certainty is carried forward and amortisation will be charged from that time over the lesser of the life of the project or three years.
1.4
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.5
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2
Fixed assets
Intangible assets
£
Cost
At 1 February 2015 & at 31 January 2016
503,562
At 31 January 2015
503,562
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
30 Ordinary of £1 each
30
30