Valenti & Pryce Limited,Ltd - AccountsLtd - Accounts

Valenti & Pryce Limited,Ltd - AccountsLtd - Accounts

VALENTI & PRYCE LIMITED - Company Information

Print Friendly Version

2016-01-01 08810371 2016-12-31 08810371 2016-01-01 2016-12-31 08810371 2015-12-31 08810371 2015-01-01 2015-12-31 08810371 uk-core:WithinOneYear 2015-12-31 08810371 uk-core:WithinOneYear 2016-12-31 08810371 uk-core:AfterOneYear 2015-12-31 08810371 uk-core:AfterOneYear 2016-12-31 08810371 uk-core:ShareCapital 2016-12-31 08810371 uk-core:ShareCapital 2015-12-31 08810371 uk-core:RetainedEarningsAccumulatedLosses 2016-12-31 08810371 uk-core:RetainedEarningsAccumulatedLosses 2015-12-31 08810371 uk-bus:Director1 2016-01-01 2016-12-31 08810371 uk-core:AfterOneYear 2016-01-01 2016-12-31 iso4217:GBP 08810371 uk-bus:AuditExemptWithAccountantsReport 2016-01-01 2016-12-31 08810371 uk-bus:FRS102 2016-01-01 2016-12-31 08810371 uk-bus:FullAccounts 2016-01-01 2016-12-31 08810371 uk-bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31
Valenti & Pryce Limited
Registered Number:08810371
For the year ended 31 December 2016
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2016
Valenti & Pryce Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
As at 31 December 2016
Valenti & Pryce Limited
Statement of Financial Position
Registered Number :
08810371
£
£
2015
2016
Notes
Current assets
Inventories
542,137
361,522
2
Trade and other receivables
4,023
2,106
3
108,301
Cash and cash equivalents
598,763
962,391
654,461
Trade and other payables: amounts falling due within one
year
(325,387)
(390,654)
4
329,074
571,737
Net current assets
Total assets less current liabilities
571,737
329,074
Trade and other payables: amounts falling due after more
than one year
(326,365)
(325,000)
5
246,737
Net assets
2,709
Capital and reserves
Called up share capital
100
100
Retained earnings
246,637
2,609
246,737
2,709
Shareholders' funds
For the year ended 31 December 2016 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 of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section
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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Mr Martyn John Pryce Director
These financial statements were approved and authorised for issue by the Board on 27 September 2017 and were signed by:
The notes form part of these financial statements
1 of 3
4
For the year ended 31 December 2016
Valenti & Pryce Limited
Notes to the Financial Statements
Statutory Information
Valenti & Pryce Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 08810371.
Registered address:
123 Grange Road
Guildford
Surrey
GU2 9QQ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
2. Inventories
2015
2016
£
£
Stocks
361,522
542,137
Work in progress is valued at the lower of cost and net realisable value.
3. Trade and other receivables
2015
2016
£
£
Called up share capital not paid
100
-
Prepayments and accrued income
304
412
Taxation and social security
1,702
984
Other debtors
-
2,627
4,023
2,106
2 of 3
5
For the year ended 31 December 2016
Valenti & Pryce Limited
Notes to the Financial Statements Continued
4. Trade and other payables: amounts falling due within one year
2015
2016
£
£
Trade creditors
1,882
(1,365)
Taxation and social security
61,007
652
Accruals and deferred income
1,400
1,200
Directors' current accounts
325,000
324,900
Other creditors
1,365
-
390,654
325,387
5. Trade and other payables: amounts falling due after more than one year
2015
2016
£
£
Other creditors
325,000
326,365
During the year, Mr C. Wilson loaned the company £325,000 (2015; £325,000). This is a non interest bearing loan and will be repaid as and when funds are available.
6. Related party transactions
M Pryce
A company in which Mr Pryce is a director
During the year, Valenti and Pryce Limited paid M J Pryce Building Contractors Limited £105,735 (2015: £75,000)
for building contractor services a company in which M J Pryce is a director and shareholder.
M Pryce
Directors loan
During the year, Martyn Pryce loaned the company £325,000 (2015 : £325,000) This is a non interest bearing
loanand will be repaid as and when funds are available.
3 of 3