The Valesco Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09805008 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

The Valesco Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Jiwa

SECRETARY:

S Jiwa

REGISTERED OFFICE:

11 Bruton Street

London

W1J 6PY

REGISTERED NUMBER:

09805008 (England and Wales)

ACCOUNTANTS:

Chancellers LLP

64 Wilbury Way

Hitchin

Hertfordshire

SG4 0TP

FIXED ASSETS

6,307

Tangible assets

4

5,515

CURRENT ASSETS

70,122

Debtors

5

156,787

4,273

Cash at bank

1,280,684

74,395

1,437,471

CREDITORS

34,051

Amounts falling due within one year

6

780,948

40,344

NET CURRENT ASSETS

656,523

46,651

TOTAL ASSETS LESS CURRENT LIABILITIES

662,038

-

PROVISIONS FOR LIABILITIES

1,048

46,651

NET ASSETS

660,990

CAPITAL AND RESERVES

225,000

Called up share capital

100

(178,349

)

Retained earnings

660,890

46,651

SHAREHOLDERS' FUNDS

660,990

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 7 March 2019 and were signed by:

S Jiwa - Director

1.	STATUTORY INFORMATION

The Valesco Group 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.

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.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

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.

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 2 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

9,333

Additions

1,787

At 31 December 2018

11,120

DEPRECIATION

At 1 January 2018

3,026

Charge for year

2,579

At 31 December 2018

5,605

NET BOOK VALUE

At 31 December 2018

5,515

At 31 December 2017

6,307

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Other debtors

156,787

70,122

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

86,513

5,559

Taxation and social security

156,107

-

Other creditors

538,328

28,492

780,948

34,051

7.	RELATED PARTY DISCLOSURES