Vale Domestic Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03888825 (England and Wales)

Financial Statements for the Year Ended 31st March 2021

for

Vale Domestic Services Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B A Marshall

SECRETARY:

Mrs T J Webb

REGISTERED OFFICE:

Unit 5a 79 High Street

Pershore

Worcestershire

WR10 1EU

REGISTERED NUMBER:

03888825 (England and Wales)

ACCOUNTANTS:

The Richards Sandy Partnership

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

52,683

47,236

Investment property

6

225,000

277,683

272,236

CURRENT ASSETS

Stocks

31,078

37,734

Debtors

71,982

29,088

Cash at bank

52,526

2,664

155,586

69,486

CREDITORS

Amounts falling due within one year

215,222

176,705

NET CURRENT LIABILITIES

(59,636

)

(107,219

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

218,047

165,017

CREDITORS

Amounts falling due after more than one
year

7

(104,277

)

(75,883

)

PROVISIONS FOR LIABILITIES

(9,639

)

(8,580

)

NET ASSETS

104,131

80,554

CAPITAL AND RESERVES

Called up share capital

2

Undistributable reserves

64,036

Retained earnings

40,093

16,516

SHAREHOLDERS' FUNDS

104,131

80,554

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1st December 2021 and were signed by:

B A Marshall - Director

1.	STATUTORY INFORMATION

Vale Domestic Services 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 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 as modified by the revaluation of certain assets.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

GOVERNMENT GRANTS

Government grants are recognised on the performance model. A grant that does not impose specified future performance-related conditions is recognised in income when the grant proceeds are received or receivable.

A grant that imposes specified future performance-related conditions is recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

INVESTMENT PROPERTY

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.

STOCKS

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 18 (2020 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2020

and 31st March 2021

8,350

AMORTISATION

At 1st April 2020

and 31st March 2021

8,350

NET BOOK VALUE

At 31st March 2021

-

At 31st March 2020

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2020

133,122

Additions

23,008

At 31st March 2021

156,130

DEPRECIATION

At 1st April 2020

85,886

Charge for year

17,561

At 31st March 2021

103,447

NET BOOK VALUE

At 31st March 2021

52,683

At 31st March 2020

47,236

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2020

and 31st March 2021

225,000

NET BOOK VALUE

At 31st March 2021

225,000

At 31st March 2020

225,000

Fair value at 31st March 2021 is represented by:

£

Valuation in 2009

39,036

Valuation in 2017

25,000

Cost

160,964

225,000

If the property had not been revalued it would have been included at the following historical cost:

2021

2020

£

Cost

160,964

Investment property was valued on an open market basis on 31st March 2021 by the director .

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2021

2020

£

Repayable by instalments

Bank loans more 5 yr by instal

9,991

14,322

Vale Domestic Services Limited - Accounts to registrar (filleted) - small 18.2

Vale Domestic Services Limited - Accounts to registrar (filleted) - small 18.2