Valued Assets Ltd - Period Ending 2015-03-31

Registration number: 04681799

Valued Assets Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

J S Weeks & Co
41 St John's Street
Devizes
Wiltshire
SN10 1BL

Valued Assets Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Valued Assets Ltd
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Valued Assets Ltd for the year ended 31 March 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Valued Assets Ltd, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Valued Assets Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Valued Assets Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Valued Assets Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Valued Assets Ltd. You consider that Valued Assets Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Valued Assets Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

J S Weeks & Co
41 St John's Street
Devizes
Wiltshire
SN10 1BL

7 December 2015

Page 1

Valued Assets Ltd
(Registration number: 04681799)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					20			30
Current assets
Debtors					95			2,521
Cash at bank and in hand					21			101
					116			2,622
Creditors: Amounts falling due within one year					(1,981)			(2,599)
Net current (liabilities)/assets					(1,865)			23
Net (liabilities)/assets					(1,845)			53
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(1,847)			51
Shareholders' (deficit)/funds					(1,845)			53

For the year ending 31 March 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 7 December 2015 and signed on its behalf by:

.........................................
Mr C Brooks
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Valued Assets Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		1,190			1,190
At 31 March 2015		1,190			1,190
Depreciation
At 1 April 2014		1,160			1,160
Charge for the year		10			10
At 31 March 2015		1,170			1,170
Net book value
At 31 March 2015		20			20
At 31 March 2014		30			30

Page 3

Valued Assets Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4