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REGISTERED NUMBER: 12534068 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

VALLIS GROUP LIMITED

VALLIS GROUP LIMITED (REGISTERED NUMBER: 12534068)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VALLIS GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: A M B Barr-Sim
P H Hopkins
D Oliphant
S I Thomson





SECRETARY: S I Thomson





REGISTERED OFFICE: Unit 4
Handlemaker Road
Frome
Somerset
BA11 4RW





REGISTERED NUMBER: 12534068 (England and Wales)





AUDITORS: PG Owen Limited
Chartered Accountants
124 High Street
Midsomer Norton
Bath
BA3 2DA

VALLIS GROUP LIMITED (REGISTERED NUMBER: 12534068)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes $    $    $    $   
FIXED ASSETS
Investments 4 254,512 254,512

CURRENT ASSETS
Debtors 5 135,792 553,922
Cash at bank 1,005,241 3,970
1,141,033 557,892
CREDITORS
Amounts falling due within one year 6 136,083 53,196
NET CURRENT ASSETS 1,004,950 504,696
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,259,462

759,208

CAPITAL AND RESERVES
Called up share capital 254,394 254,394
Retained earnings 1,005,068 504,814
1,259,462 759,208

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 April 2022 and were signed on its behalf by:




A M B Barr-Sim - Director



S I Thomson - Director


VALLIS GROUP LIMITED (REGISTERED NUMBER: 12534068)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Vallis Group Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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

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.

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.

Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

VALLIS GROUP LIMITED (REGISTERED NUMBER: 12534068)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 5 ) .

4. FIXED ASSET INVESTMENTS

Subsidiary 2021 2020
Vallis Commodities Limited 100% 100%
Vallis Services Limited 100% 100%
Drum Resources Ghana Limited 90% 0%
Vallis Kenya Limited 99.99% 0%
Vallis Trade Assurance Services Namibia (proprietary) Limited 100% 0%
Vallis Senegal SARL 100% 0%
Vallis Services South Africa 100% 0%
Vallis Togo SARL 100% 0%

Vallis Group Ltd indirectly owns Vallis Guinea SUCC, Vallis Mai Succursale SARL, Vallis Mauritania SUCC via Vallis Senegal SARL.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
$    $   
Amounts owed by group undertakings 135,792 553,922

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
$    $   
Taxation and social security 18,686 22,145
Other creditors 117,397 31,051
136,083 53,196

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robin N Browning BA(Hons) FCCA FCA FAIA BFP (Senior Statutory Auditor)
for and on behalf of PG Owen Limited