Vallance Court Management Limited
Vallance Court Management Limited
Registered number: 01544196
Unaudited Financial Statements
For The Year Ended
31 March 2023
TaxAssist Accountants
16 Blatchington Road
Hove
East Sussex
BN3 3YN
Vallance Court Management Limited
Unaudited Financial Statements
For The Year Ended
31 March 2023
Unaudited Financial Statements
Contents | |
Page | |
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Statement of Financial Position | 1 |
Notes to the Financial Statements | 2—3 |
Page 1
Vallance Court Management Limited
Statement of Financial Position
As At
31 March 2023
Statement of Financial Position
Registered number:
01544196
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 4 |
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CURRENT ASSETS | |||||
Debtors | 5 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 6 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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Income Statement |
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MEMBERS' FUNDS | 3,455 | 19 | |||
On behalf of the board
Director
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Director
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The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Vallance Court Management Limited
Notes to the Financial Statements
For The Year Ended
31 March 2023
Notes to the Financial Statements
1.
General Information
Vallance Court Management Limited
is a private company, limited by guarantee, incorporated in England & Wales, registered number
01544196
. The registered office is 7 Vallance Court Hove Street, Hove, East Sussex, BN3 2DE.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery |
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2.4.
Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 | 2022 | ||
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Office and administration |
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Page 2
Page 3
Vallance Court Management Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
4.
Tangible Assets
Plant & Machinery | |
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Cost | |
As at
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Disposals |
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Net Book Value | |
As at
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As at
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5.
Debtors
2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Corporation tax recoverable assets |
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6.
Creditors: Amounts Falling Due Within One Year
2023 | 2022 | ||
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£ | £ | ||
Corporation tax |
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Other creditors |
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Accruals and deferred income |
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7.
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 3