Valelake Limited - Accounts to registrar (filleted) - small 18.2

Valelake Limited - Accounts to registrar (filleted) - small 18.2

VALELAKE LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v21.1.0.652 09588116 Board of Directors 1.4.19 31.3.20 31.3.20 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure095881162019-03-31095881162020-03-31095881162019-04-012020-03-31095881162018-03-31095881162018-04-012019-03-31095881162019-03-3109588116ns16:EnglandWales2019-04-012020-03-3109588116ns15:PoundSterling2019-04-012020-03-3109588116ns11:Director12019-04-012020-03-3109588116ns11:PrivateLimitedCompanyLtd2019-04-012020-03-3109588116ns11:SmallEntities2019-04-012020-03-3109588116ns11:AuditExempt-NoAccountantsReport2019-04-012020-03-3109588116ns11:SmallCompaniesRegimeForDirectorsReport2019-04-012020-03-3109588116ns11:SmallCompaniesRegimeForAccounts2019-04-012020-03-3109588116ns11:FullAccounts2019-04-012020-03-3109588116ns11:OrdinaryShareClass12019-04-012020-03-3109588116ns11:Director22019-04-012020-03-3109588116ns11:RegisteredOffice2019-04-012020-03-3109588116ns6:CurrentFinancialInstruments2020-03-3109588116ns6:CurrentFinancialInstruments2019-03-3109588116ns6:ShareCapital2020-03-3109588116ns6:ShareCapital2019-03-3109588116ns6:RetainedEarningsAccumulatedLosses2020-03-3109588116ns6:RetainedEarningsAccumulatedLosses2019-03-3109588116ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-03-3109588116ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-03-3109588116ns11:OrdinaryShareClass12020-03-31
REGISTERED NUMBER: 09588116 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

VALELAKE LIMITED
VALELAKE LIMITED (REGISTERED NUMBER: 09588116)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VALELAKE LIMITED


COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2020







DIRECTORS: R A Gardner
P R Scothern





REGISTERED OFFICE: Zieglers
Village Street
Newdigate
Surrey
RH5 5DH





REGISTERED NUMBER: 09588116 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU
-1-
VALELAKE LIMITED (REGISTERED NUMBER: 09588116)


BALANCE SHEET
31 MARCH 2020

2020 2019
Notes £    £   
CURRENT ASSETS
Stocks 59,568 56,891
Debtors 4 26,863 26,500
Cash at bank 763 574
87,194 83,965
CREDITORS
Amounts falling due within one year 5 101,862 95,262
NET CURRENT LIABILITIES (14,668 ) (11,297 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(14,668
)
(11,297
)

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings (14,768 ) (11,397 )
SHAREHOLDERS' FUNDS (14,668 ) (11,297 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2020 and were signed on its behalf by:





R A Gardner - Director


The notes form part of these financial statements

-2-
VALELAKE LIMITED (REGISTERED NUMBER: 09588116)


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020


1. STATUTORY INFORMATION

Valelake 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.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently.

Significant judgements and estimates
There are no significant accounting judgements and estimates that require disclosure.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Going concern
Due to the ongoing support of the company's principal shareholders the directors believes that it is appropriate to prepare the financial statements on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would be necessary to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Financial instruments
Cash at bank is measured at measured at transaction price.

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Share capital
Ordinary shares are classified as equity.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

-3-
VALELAKE LIMITED (REGISTERED NUMBER: 09588116)


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors 26,863 26,500

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other creditors 101,862 95,262

6. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2020 2019
value: £    £   
100 Ordinary £1 100 100

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed £7,519 (2019: £7,519) to R A Gardner and £528 (2019: £528) to P R Scothern, directors of the company. The loan amounts are repayable on demand and are non interest bearing.

8. RELATED PARTY DISCLOSURES

During the year Shirley Orchard Limited, a company controlled by R A Gardner, paid for £nil (2019: £nil) expenses on behalf of Valelake Limited, During the year Shirley Orchard Limited lent £6,350 (2019: £11,400) to Valelake Limited.

At the balance sheet date the amount owed to Shirley Orchard Limited is £92,065 (2019: £85,715). This amount is included in creditors, is repayable on demand and is non interest bearing.

9. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by four shareholders.

-4-