Notes to the financial statements
for the period from 11 May 2021 to 31 December 2021
Valleo Holdings Limited is a private limited company by shares and incorporated in the England and Wales. The
address of the registered office is C/O Buzzacott LLP, 130 Wood Street, London, EC2V 6DL and its principal place of business is 111 Park Street, Mayfair, London, W1K 7JL.
2.Significant accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in Pound Sterling (£), which is also the functional currency.
The following principal accounting policies have been applied consistently throughout the financial period.
After reviewing the forecasts and projections the directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
All expenses have been accounted for on an accruals basis.
The current tax payable is based on taxable profit for the period. Taxable profit differs from profit as reported in the statement of comprehensive income because it excluded items that are never taxable or deductible. The company's current tax liability is calculated using rates that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to
pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise
based on current tax rate and law. Timing differences arise from the inclusion of items of income and
expenditure in taxation computations in periods different from those in which they are included in financial
statements.
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be
recovered. Deferred tax assets and liabilities are not discounted.
Investments in subsidiaries are measured at cost less provision for impairment.
Short term debtors are measured at transaction price less any impairment.
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