VALE_RETAIL_LIMITED - Accounts

VALE RETAIL LIMITED - Company Information

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Company Registration No. 04089688 (England and Wales)

VALE RETAIL LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

VALE RETAIL LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 4

VALE RETAIL LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

3,346

4,462

Investments

300

3,646

4,762

Current assets

Debtors

2,429,966

2,225,897

Investments

112,000

Cash at bank and in hand

82,292

42,884

2,512,258

2,380,781

Creditors: amounts falling due within one year

(25,701)

(31,912)

Net current assets

2,486,557

2,348,869

Total assets less current liabilities

2,490,203

2,353,631

Capital and reserves

Called up share capital

190

Profit and loss account

2,490,013

2,353,441

Shareholders' funds

2,490,203

2,353,631

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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 Act 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 for issue on 24 June 2015

R. A. Oliver

C.S. Willans

Director

Company Registration No. 04089688

VALE RETAIL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

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 April 2008).

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

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% reducing balance

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Current asset investments are stated at the lower of cost and net realisable value.

VALE RETAIL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 January 2014 & at 31 December 2014

46,034

300

46,334

Depreciation

At 1 January 2014

41,572

Charge for the year

1,116

At 31 December 2014

42,688

Net book value

At 31 December 2014

3,346

300

3,646

At 31 December 2013

4,462

300

4,762

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Vale Retail (Halesowen) Limited

England and Wales

ordinary

100.00

Vale Retail ( Cornbow) Limited

England and Wales

ordinary

100.00

Vale (Letchworth) Limited

England and Wales

ordinary

100.00

Vale Limited

England and Wales

ordinary

100.00

Vale Asset Management Limited

England and Wales

ordinary

100.00

Springfield Lakes Limited

England and Wales

ordinary

50.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2014

Principal activity

Vale Retail (Halesowen) Limited

Investment holding company

Vale Retail ( Cornbow) Limited

Property investment company

(8,992,774)

1,724,023

Vale (Letchworth) Limited

Property investment company

Vale Limited

Property investment company

Vale Asset Management Limited

Asset management company

156,688

36,407

Springfield Lakes Limited

Property development company

(1,024,739)

(35,315)

VALE RETAIL LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 4 -

Share capital

2014

2013

Allotted, called up and fully paid

190 ordinary shares of £1 each

190

Related party relationships and transactions

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

R. A. Oliver - loan account

935,706

74,673

1,010,379

C.S. Willans - loan account

821,863

193,449

1,015,312

1,757,569

268,122

2,025,691