Vale Internet Solutions Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05051013 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

VALE INTERNET SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R M Dymond

REGISTERED OFFICE:

Unit 9D Garth Drive

Brackla Industrial Estate

Bridgend

Glamorgan

CF31 2AQ

REGISTERED NUMBER:

05051013 (England and Wales)

ACCOUNTANTS:

DAVID WRIGHT ACCOUNTANTS LIMITED

Unit 10

Bridgend Business Park

Bennett Street

Bridgend

Glamorgan

CF31 3SH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,034

1,465

2,034

1,465

CURRENT ASSETS

Debtors

6

22,323

20,818

Cash at bank

11,377

-

33,700

20,818

CREDITORS

Amounts falling due within one year

7

23,088

19,771

NET CURRENT ASSETS

10,612

1,047

TOTAL ASSETS LESS CURRENT LIABILITIES

12,646

2,512

CREDITORS

Amounts falling due after more than one year

8

-

(2,163

)

PROVISIONS FOR LIABILITIES

(386

)

(278

)

NET ASSETS

12,260

71

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

12,140

(49

)

12,260

71

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 May 2024 and were signed by:

R M Dymond - Director

1.	STATUTORY INFORMATION

Vale Internet Solutions 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance and 20% on reducing balance

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.

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 4 (2023 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2023

and 31 March 2024

25,000

AMORTISATION

At 1 April 2023

and 31 March 2024

25,000

NET BOOK VALUE

At 31 March 2024

-

At 31 March 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2023

7,047

Additions

1,247

At 31 March 2024

8,294

DEPRECIATION

At 1 April 2023

5,582

Charge for year

678

At 31 March 2024

6,260

NET BOOK VALUE

At 31 March 2024

2,034

At 31 March 2023

1,465

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/24

31/3/23

£

£

Trade debtors

21,948

20,443

Other debtors

375

375

22,323

20,818

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/24

31/3/23

£

£

Bank loans and overdrafts

2,163

5,393

Trade creditors

511

721

Taxation and social security

10,279

7,551

Other creditors

10,135

6,106

23,088

19,771

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/24

31/3/23

£

£

Bank loans

-

2,163

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31/3/24

31/3/23

£

£

R M Dymond

Balance outstanding at start of year

(5,154

)

13,916

Amounts advanced

-

7,930

Amounts repaid

-

(27,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(5,154

)