Valhalla (York) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10532653 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Valhalla (York) Ltd

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr M Bedingham

Mr V K Roberts

REGISTERED OFFICE:

4 Patrick Pool

York

North Yorkshire

YO1 8BB

REGISTERED NUMBER:

10532653 (England and Wales)

ACCOUNTANTS:

Parker Hartley & Co

Incorporated Financial Accountants

2 Waverley Street

The Groves

York

YO31 7QZ

BANKERS:

HSBC Bank Plc

13 Parliament Street

York

North Yorkshire

YO1 8XS

FIXED ASSETS

Tangible assets

4

37,960

44,659

Investment property

5

590,214

602,678

628,174

647,337

CURRENT ASSETS

Stocks

6

30,526

9,245

Cash at bank and in hand

115,653

41,945

146,179

51,190

CREDITORS

Amounts falling due within one year

7

163,254

93,444

NET CURRENT LIABILITIES

(17,075

)

(42,254

)

TOTAL ASSETS LESS CURRENT LIABILITIES

611,099

605,083

CREDITORS

Amounts falling due after more than one year

8

(300,336

)

(331,213

)

PROVISIONS FOR LIABILITIES

(7,212

)

-

NET ASSETS

303,551

273,870

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

303,351

273,670

303,551

273,870

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2023 and were signed on its behalf by:

Mr M Bedingham - Director

Mr V K Roberts - Director

1.	STATUTORY INFORMATION

Valhalla (York) 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.

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.

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 the cost less estimated residual value of each asset over its estimated useful life.

Stocks

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

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 14 (2021 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2022

and 31 December 2022

71,650

DEPRECIATION

At 1 January 2022

26,991

Charge for year

6,699

At 31 December 2022

33,690

NET BOOK VALUE

At 31 December 2022

37,960

At 31 December 2021

44,659

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2022

and 31 December 2022

623,200

DEPRECIATION

At 1 January 2022

20,522

Charge for year

12,464

At 31 December 2022

32,986

NET BOOK VALUE

At 31 December 2022

590,214

At 31 December 2021

602,678

6.

STOCKS

31/12/22

31/12/21

£

£

Stocks

30,526

9,245

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/22

31/12/21

£

£

Other loans

27,418

23,073

Trade creditors

24,974

10,125

Corporation Tax

54,386

13,490

Social security and other taxes

3,287

2,905

VAT

50,636

16,520

Directors' loan accounts

173

25,911

Accrued expenses

2,380

1,420

163,254

93,444

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/22

31/12/21

£

£

Other loans - 1-2 years

300,336

331,213

9.	OTHER FINANCIAL COMMITMENTS

Rent in the amount of £ 20,000 (2021 £ 14,000 ) is paid to the directors in respect of the property.

There is a fixed and floating charge held by National Westminster Bank plc.