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COMPANY REGISTRATION NUMBER: 09788532
VALUELINK INVESTMENT CONSULTING LIMITED
Unaudited Financial Statements
31 December 2021
VALUELINK INVESTMENT CONSULTING LIMITED
Financial Statements
Year ended 31 December 2021
Contents
Page
Director's report
1
Income statement
2
Statement of financial position
3
Statement of changes in equity
5
Notes to the financial statements
6
VALUELINK INVESTMENT CONSULTING LIMITED
Director's Report
Year ended 31 December 2021
The director presents his report and the unaudited financial statements of the company for the year ended 31 December 2021 .
Principal activities
The principal activity of the company during the year was making and holding of investments.
Director
The director who served the company during the year was as follows:
Mr Minas Migdalis
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 23 August 2022 and signed on behalf of the board by:
Mr Minas Migdalis
Fiduci-Corp (UK) Services Limited
Director
Company Secretary
VALUELINK INVESTMENT CONSULTING LIMITED
Income Statement
Year ended 31 December 2021
2021
2020
Note
$
$
Turnover
15,615
106,527
--------
---------
Gross profit
15,615
106,527
Administrative expenses
( 71,411)
( 102,785)
Other operating income
40,285
--------
---------
Operating (loss)/profit
( 15,511)
3,742
Other interest receivable and similar income
3,092
--------
---------
(Loss)/profit before taxation
4
( 12,419)
3,742
Tax on (loss)/profit
--------
-------
(Loss)/profit for the financial year
( 12,419)
3,742
--------
-------
All the activities of the company are from continuing operations.
VALUELINK INVESTMENT CONSULTING LIMITED
Statement of Financial Position
31 December 2021
2021
2020
Note
$
$
$
Fixed assets
Tangible assets
5
892,160
916,220
Current assets
Debtors
6
61,544
45,767
Cash at bank and in hand
181,504
199,916
---------
---------
243,048
245,683
Creditors: amounts falling due within one year
7
1,154,943
1,162,148
------------
------------
Net current liabilities
911,895
916,465
---------
---------
Total assets less current liabilities
( 19,735)
( 245)
Creditors: amounts falling due after more than one year
8
781
--------
----
Net liabilities
( 20,516)
( 245)
--------
----
Capital and reserves
Called up share capital
7,866
7,866
Other reserves
4,549
12,401
Profit and loss account
( 32,931)
( 20,512)
--------
--------
Shareholders deficit
( 20,516)
( 245)
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
VALUELINK INVESTMENT CONSULTING LIMITED
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 23 August 2022 , and are signed on behalf of the board by:
Mr Minas Migdalis
Director
Company registration number: 09788532
VALUELINK INVESTMENT CONSULTING LIMITED
Statement of Changes in Equity
Year ended 31 December 2021
Called up share capital
Other reserves
Profit and loss account
Total
$
$
$
$
At 1 January 2020
7,866
( 8,199)
( 24,254)
( 24,587)
Profit for the year
3,742
3,742
Other comprehensive income for the year:
Foreign currency retranslation
20,600
20,600
-------
--------
--------
--------
Total comprehensive income for the year
20,600
3,742
24,342
At 31 December 2020
7,866
12,401
( 20,512)
( 245)
Loss for the year
( 12,419)
( 12,419)
Other comprehensive income for the year:
Foreign currency retranslation
( 7,852)
( 7,852)
-------
--------
--------
--------
Total comprehensive income for the year
( 7,852)
( 12,419)
( 20,271)
-------
--------
--------
--------
At 31 December 2021
7,866
4,549
( 32,931)
( 20,516)
-------
--------
--------
--------
VALUELINK INVESTMENT CONSULTING LIMITED
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St Georges House, 6th floor, 15 Hanover Square, London, W1S 1HS, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in Australian Dollars, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
10% straight line
Fixture and Fittings
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Profit before taxation
Profit before taxation is stated after charging:
2021
2020
$
$
Depreciation of tangible assets
14,580
--------
----
5. Tangible assets
Land and buildings
Fixtures and fittings
Total
$
$
$
Cost
At 1 January 2021
916,220
916,220
Additions
65,488
36,124
101,612
Disposals
( 102,905)
( 102,905)
---------
--------
---------
At 31 December 2021
878,803
36,124
914,927
---------
--------
---------
Depreciation
At 1 January 2021
Charge for the year
19,155
3,612
22,767
---------
--------
---------
At 31 December 2021
19,155
3,612
22,767
---------
--------
---------
Carrying amount
At 31 December 2021
859,648
32,512
892,160
---------
--------
---------
At 31 December 2020
916,220
916,220
---------
--------
---------
6. Debtors
2021
2020
$
$
Trade debtors
23,536
13,718
Other debtors
38,008
32,049
--------
--------
61,544
45,767
--------
--------
7. Creditors: amounts falling due within one year
2021
2020
$
$
Trade creditors
38,214
Social security and other taxes
3,700
5,589
Shareholders account - credit balance
1,107,790
1,107,790
Other creditors
5,239
48,769
------------
------------
1,154,943
1,162,148
------------
------------
8. Creditors: amounts falling due after more than one year
2021
2020
$
$
Payments received on account
781
----
----
9. Fair value reserve
The following movements on the fair value reserve are included within other reserves in the statement of changes in equity:
2021
2020
$
$
At start of year
12,401
(8,199)
Foreign currency retranslation
(7,852)
20,600
--------
--------
At end of year
4,549
12,401
--------
--------
10. Related party transactions
The company was under the control of Mrs Tina Migdalis and Mr Minas Migdalis throughout the current year.