Wye Vale Investments Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 12347401 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST DECEMBER 2022

FOR

WYE VALE INVESTMENTS LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Directors:

B N B Doouss

A J Haughton

G Knappett

Registered office:

Unit 1

Beacon Road

Rotherwas Industrial Estate

Hereford

HR2 6JF

Registered number:

12347401 (England and Wales)

Fixed assets

Investments

4

400

400

Current assets

Debtors

5

65,542

-

Cash in hand

75

75

65,617

75

Creditors

Amounts falling due within one year

6

65,642

100

Net current liabilities

(25

)

(25

)

Total assets less current liabilities

375

375

Capital and reserves

Called up share capital

7

375

375

Shareholders' funds

375

375

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 2nd August 2023 and were signed on its behalf by:

G Knappett - Director

1.	Statutory information

Wye Vale Investments 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.

Preparation of consolidated financial statements

The financial statements contain information about Wye Vale Investments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all of the risks and rewards of the ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducing all of its liabilities.

Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans, loans from fellow group companies and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

3.	Employees (including officers)

The average number of employees during the year was 3 (2021 - 3 ) .

4.	Fixed asset investments

Shares in

group

undertakings

£

Cost

At 1st January 2022

and 31st December 2022

400

Net book value

At 31st December 2022

400

At 31st December 2021

400

The company's investments at the Balance sheet date in the share capital of companies include the following:

ESC Trading Company Limited

Registered office: Unit 1 Beacon Road, Rotherwas Industrial Estate, Hereford, Herefordshire, United Kingdom, HR2 6JF

Nature of business: Supply of engineering equipment

%

Class of shares:

holding

Ordinary

100.00

31.12.22

31.12.21

£

£

Aggregate capital and reserves

1,024,360

572,470

Kutavar Limited

Registered office: Unit 1 Beacon Road, Rotherwas Industrial Estate, Hereford, Herefordshire, United Kingdom, HR2 6JF

Nature of business: Supply of engineering equipment

%

Class of shares:

holding

Ordinary

100.00

31.12.22

31.12.21

£

£

Aggregate capital and reserves

(549,053

)

(92,773

)

5.

Debtors: amounts falling due within one year

31.12.22

31.12.21

£

£

Amounts owed by group undertakings

65,542

-

6.

Creditors: amounts falling due within one year

31.12.22

31.12.21

£

£

Amounts owed to group undertakings

-

100

Other creditors

65,642

-

65,642

100

7.	Called up share capital

Allotted, called up and fully paid shares

31.12.22

31.12.21

No.

£

No.

£

Ordinary A shares of £0.01

10,000

100

10,000

100

Ordinary B shares of £0.01

10,000

100

10,000

100

Ordinary C shares of £0.01

10,000

100

10,000

100

Ordinary D shares of £0.01

1,875

18.75

1,875

18.75

Ordinary E shares of £0.01

1,875

18.75

1,875

18.75

Ordinary F shares of £0.01

1,875

18.75

1,875

18.75

Ordinary G shares of £0.01

1,875

18.75

1,875

18.75

37,500

375

37,500

375

8.	Contingent liabilities

There were no contingent liabilities as at 31st December 2022.

9.	Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.