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Registration number: 13520293

Valli Hyde Limited

Annual Report and Unaudited Financial Statements

for the Period from 20 July 2021 to 31 March 2022

 

Valli Hyde Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Valli Hyde Limited

Company Information

Director

MA Valli

Company secretary

RM Valli

Registered office

262-264 Lockwood Road
Huddersfield
West Yorkshire
HD1 3TG

 

Valli Hyde Limited

(Registration number: 13520293)
Balance Sheet as at 31 March 2022

Note

2022
£

Fixed assets

 

Intangible assets

4

231,758

Tangible assets

5

847

 

232,605

Current assets

 

Stocks

6

8,543

Debtors

7

11,738

 

20,281

Creditors: Amounts falling due within one year

8

(253,185)

Net current liabilities

 

(232,904)

Net liabilities

 

(299)

Capital and reserves

 

Called up share capital

1

Retained earnings

(300)

Shareholders' deficit

 

(299)

 

Valli Hyde Limited

(Registration number: 13520293)
Balance Sheet as at 31 March 2022

For the financial period ending 31 March 2022 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 2 September 2022
 

.........................................
MA Valli
Director

 

Valli Hyde Limited

Notes to the Unaudited Financial Statements for the Period from 20 July 2021 to 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
262-264 Lockwood Road
Huddersfield
West Yorkshire
HD1 3TG
England

These financial statements were authorised for issue by the director on 2 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

The company has net liabilities. The financial statements have been prepared on the going concern basis which assumes the company will continue to exist for the foreseeable future. This is dependent on the continued support of the directors, who has indicated that amounts due to them will not be withdrawn.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% on cost

Office equipment

33% on cost

 

Valli Hyde Limited

Notes to the Unaudited Financial Statements for the Period from 20 July 2021 to 31 March 2022

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over it's useful life

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Valli Hyde Limited

Notes to the Unaudited Financial Statements for the Period from 20 July 2021 to 31 March 2022

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Acquired through business combinations

231,758

231,758

At 31 March 2022

231,758

231,758

Amortisation

Carrying amount

At 31 March 2022

231,758

231,758

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

Additions

672

175

847

At 31 March 2022

672

175

847

Depreciation

Carrying amount

At 31 March 2022

672

175

847

 

Valli Hyde Limited

Notes to the Unaudited Financial Statements for the Period from 20 July 2021 to 31 March 2022

6

Stocks

2022
£

Other inventories

8,543

7

Debtors

Current

2022
£

Trade debtors

10,248

Prepayments

1,490

 

11,738

8

Creditors

Creditors: amounts falling due within one year

Note

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

252,885

Accruals and deferred income

 

300

 

253,185