Valeway Estates Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07494966 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

FOR

VALEWAY ESTATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

J Fekete

SECRETARY:

J Fekete

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

07494966 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

932

1,096

Investment property

5

1,000,000

1,000,000

1,000,932

1,001,096

CURRENT ASSETS

Debtors

6

1,157

-

Cash at bank

2,388

8,026

3,545

8,026

CREDITORS

Amounts falling due within one year

7

338,921

335,328

NET CURRENT LIABILITIES

(335,376

)

(327,302

)

TOTAL ASSETS LESS CURRENT LIABILITIES

665,556

673,794

CREDITORS

Amounts falling due after more than one year

8

362,768

374,903

NET ASSETS

302,788

298,891

CAPITAL AND RESERVES

Called up share capital

9

1

1

Revaluation reserve

10

267,865

267,865

Retained earnings

10

34,922

31,025

SHAREHOLDERS' FUNDS

302,788

298,891

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 8 November 2017 and were signed by:

J Fekete - Director

1.	STATUTORY INFORMATION

Valeway Estates Ltd 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 the provisions of Section 1A "Small Entities" 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 cost convention as modified by the revaluation of certain assets.

Transition to financial reporting standards 102

The company has adopted FRS 102 Section 1A for the first time in the preparation of these accounts.

Accordingly the date of transition to FRS 102 was 1 February 2015 (beginning of the accounting period of

comparative financial year).

There are no material differences in determining the company's profit and loss under FRS 102 Section 1A and

the previous framework the company adopted (the Financial Reporting Standard for Smaller Entities (effective

January 2015)).

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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 statement of financial position date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 February 2016

and 31 January 2017

1,786

DEPRECIATION

At 1 February 2016

690

Charge for year

164

At 31 January 2017

854

NET BOOK VALUE

At 31 January 2017

932

At 31 January 2016

1,096

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2016

and 31 January 2017

1,000,000

NET BOOK VALUE

At 31 January 2017

1,000,000

At 31 January 2016

1,000,000

Cost or valuation at 31 January 2017 is represented by:

£

Valuation in 2015

267,865

Cost

732,135

1,000,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Other debtors

1,157

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Tax

2,325

1,546

Other creditors

335,036

332,942

Accrued expenses

1,560

840

338,921

335,328

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.17

31.1.16

£

£

Bank loans - 2-5 years

362,768

374,903

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.17

31.1.16

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 February 2016

31,025

267,865

298,890

Profit for the year

3,897

3,897

At 31 January 2017

34,922

267,865

302,787

11.	ULTIMATE CONTROLLING PARTY

The controlling party is J Fekete.