Accounts filed on 31-12-2015

VALLEY BLINDS AND TILES LIMITED - Company Information

true 08852970 VALLEY BLINDS AND TILES LIMITED 2015-12-31 608000 760000 950000 950000 190000 152000 342000 71085 71418 103923 87259 30061 -13397 15841 32838 18992 -1995 679085 831418 8426 6350 546939 396927 118965 831187 674330 1234464 633143 819681 41187 414783 720272 1246201 600000 1200000 9308 6233 110964 39968 10 10 Ordinary 1.00 10 10 10 110954 39958 110964 39968 true true true true 2016-04-18 S HILL true Goodwill Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of six years. At the start of the year, the directors took the decision to change the amortisation period from five to six years. Stocks Stocks are valued at a first in, first out basis at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Finished goods includes all attributable overheads including direct labour and overheads incurred in bringing the products to their present location and condition. Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Turnover Turnover represents net invoiced sale of goods, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration. Plant and Machinery On cost 20.00 Fixtures and Fittings On cost 20.00 Motor vehicles on reducing balance 25.00 At the year end a sum of £598,763 (2014 £1,273,157) was owed to the company's directors. The directors have guaranteed that £400,000 of this sum will not be repayable within twelve months of the signing of these financial statements. A further £291,378 (2014 £546,183) was owed to Mrs P Hill, a shareholder of the company. Mrs P Hill has guaranteed that £200,000 of this sum will not be repayable within twelve months of the signing of these financial statements. None of the loans have any set repayment terms, carry no right to interest and are unsecured. Parent company Valley Blinds and Tiles (Assets) Limited is regarded by the directors as being the company's ultimate parent company. The premises from which the company operates is owned by Valley Blinds and Tiles (Assets) Limited. A commercial rent of £60,000 was paid to the parent company in the year. During the year Valley Blinds and Tiles (Assets) Limited became entitled to dividends of £70,000 from Valley Blinds and Tiles Limited. At the year end a sum of £130,000 was owed to Valley Blinds and Tiles (Assets) Limited. Ultimate controlling party Valley Blinds and Tiles (Assets) Limited is controlled by S and Mrs I Hill. xbrli:shares xbrli:pure iso4217:GBP iso4217:GBP VALLEY BLINDS AND TILES LIMITED 2015-01-012015-12-31 VALLEY BLINDS AND TILES LIMITED 2014-01-20 2014-12-31 VALLEY BLINDS AND TILES LIMITED 2015-01-01 VALLEY BLINDS AND TILES LIMITED 2015-12-31 VALLEY BLINDS AND TILES LIMITED 2014-01-20 VALLEY BLINDS AND TILES LIMITED 2014-12-31 2016-09-19