Valeway Estates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07494966 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

FOR

VALEWAY ESTATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

J Fekete

SECRETARY:

J Fekete

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

07494966 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

5

1,432

1,685

Investment property

6

1,000,000

1,000,000

1,001,432

1,001,685

CURRENT ASSETS

Debtors

7

91

91

Cash at bank

3,233

566

3,324

657

CREDITORS

Amounts falling due within one year

8

351,663

342,367

NET CURRENT LIABILITIES

(348,339

)

(341,710

)

TOTAL ASSETS LESS CURRENT LIABILITIES

653,093

659,975

CREDITORS

Amounts falling due after more than one year

9

336,111

349,773

NET ASSETS

316,982

310,202

CAPITAL AND RESERVES

Called up share capital

11

1

1

Revaluation reserve

12

267,865

267,865

Retained earnings

12

49,116

42,336

SHAREHOLDERS' FUNDS

316,982

310,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 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 applicable to companies subject to the small companies regime.

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 6 November 2019 and were signed by:

J Fekete - Director

1.	STATUTORY INFORMATION

Valeway Estates Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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 statement of financial position date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 February 2018

and 31 January 2019

2,836

DEPRECIATION

At 1 February 2018

1,151

Charge for year

253

At 31 January 2019

1,404

NET BOOK VALUE

At 31 January 2019

1,432

At 31 January 2018

1,685

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2018

and 31 January 2019

1,000,000

NET BOOK VALUE

At 31 January 2019

1,000,000

At 31 January 2018

1,000,000

Fair value at 31 January 2019 is represented by:

£

Valuation in 2015

267,865

Valuation in 2019

732,135

1,000,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Other debtors

91

91

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.1.18

£

£

Tax

1,650

1,828

Other creditors

348,851

339,531

Accrued expenses

1,162

1,008

351,663

342,367

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.19

31.1.18

£

£

Bank loans - 2-5 years

336,111

349,773

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.19

31.1.18

£

£

Bank loans

336,111

349,773

Bank loan is secured by a first charge over company's investment properties and bear interest at variable rate.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.19

31.1.18

value:

£

£

1

Ordinary

£1

1

1

12.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 February 2018

42,336

267,865

310,201

Profit for the year

6,780

6,780

At 31 January 2019

49,116

267,865

316,981

13.	ULTIMATE CONTROLLING PARTY

The controlling party is J Fekete.