Valendex Limited - Accounts to registrar (filleted) - small 23.2.5
Valendex Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 |
| FOR |
| VALENDEX LIMITED |
| VALENDEX LIMITED (REGISTERED NUMBER: 01264192) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| VALENDEX LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST MARCH 2023 |
| DIRECTOR: |
| SECRETARIES: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| BANKERS: |
| VALENDEX LIMITED (REGISTERED NUMBER: 01264192) |
| BALANCE SHEET |
| 31ST MARCH 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Fair value reserve | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| VALENDEX LIMITED (REGISTERED NUMBER: 01264192) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31ST MARCH 2023 |
| 1. | STATUTORY INFORMATION |
| Valendex Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01264192 and registered office address is 248 Norbury Avenue, London, SW16 3RN. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors have reviewed the company's affairs as at the balance sheet date, and projections for the next year. No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified. These financial statements have accordingly been prepared on the going concern basis. |
| Turnover |
| Turnover represents value of goods and services provided, excluding value added tax. |
| Goodwill |
| 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 |
| Land and buildings | - |
| Plant and machinery etc | - |
| 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 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 Income Statement, 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. |
| VALENDEX LIMITED (REGISTERED NUMBER: 01264192) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1st April 2022 |
| and 31st March 2023 |
| AMORTISATION |
| At 1st April 2022 |
| and 31st March 2023 |
| NET BOOK VALUE |
| At 31st March 2023 |
| At 31st March 2022 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1st April 2022 |
| and 31st March 2023 |
| DEPRECIATION |
| At 1st April 2022 |
| Charge for year |
| At 31st March 2023 |
| NET BOOK VALUE |
| At 31st March 2023 |
| At 31st March 2022 |
| Included in cost of land and buildings is freehold land of £ 200,000 (2022 - £ 200,000 ) which is not depreciated. |
| VALENDEX LIMITED (REGISTERED NUMBER: 01264192) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2023 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1st April 2022 |
| and 31st March 2023 |
| DEPRECIATION |
| At 1st April 2022 |
| Charge for year |
| At 31st March 2023 |
| NET BOOK VALUE |
| At 31st March 2023 |
| At 31st March 2022 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st April 2022 |
| and 31st March 2023 |
| NET BOOK VALUE |
| At 31st March 2023 |
| At 31st March 2022 |
| The fair value of the above investment property was estimated by the directors to be £275,000 (2022:£275,000) as at the year end. The historical cost of this property is £134,185. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Hire purchase contracts |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Hire purchase contracts |
| VALENDEX LIMITED (REGISTERED NUMBER: 01264192) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31ST MARCH 2023 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary shares | £1 | 40,000 | 40,000 |
| 11. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1st April 2022 |
| and 31st March 2023 |
| 12. | RELATED PARTY DISCLOSURES |
| The company owed £1,989 (2022: £1,989) at the year-end, jointly to Mr H A Patel who is a shareholder and his spouse Mrs A H Patel who is also a shareholder. |
| Dividends paid to material shareholders and directors in the year were as follows: |
| 2023 | 2022 |
| Mrs AH Patel - shareholder | £20,000 | £20,000 |
| Mr HA Patel - shareholder | £20,000 | £20,000 |
| Mrs V Patel - shareholder | £nil | £nil |
| Mrs UH Patel - shareholder and director | £nil | £nil |
| 13. | ULTIMATE CONTROLLING PARTY |
| Mrs AH Patel and Mr HA Patel jointly are the majority shareholders and the ultimate controlling party. |