Company registration number 10610898 (England and Wales)
Vale Bridgecraft Ltd
Unaudited
Financial Statements
for the year ended 31 December 2021
PAGES FOR FILING WITH REGISTRAR
Vale Bridgecraft Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Vale Bridgecraft Ltd
Statement of financial position
as at 31 December 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
2
539,727
540,034
Investments
3
46,861
46,861
586,588
586,895
Current assets
Debtors
4
124,571
Cash at bank and in hand
675,702
701,452
800,273
701,452
Creditors: amounts falling due within one year
5
(41,486)
Net current assets
800,273
659,966
Net assets
1,386,861
1,246,861
Capital and reserves
Called up share capital
46,861
46,861
Profit and loss reserves
1,340,000
1,200,000
Total equity
1,386,861
1,246,861
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 June 2022 and are signed on its behalf by:
R P Moore
Director
Company Registration No. 10610898
Vale Bridgecraft Ltd
Notes to the financial statements
for the year ended 31 December 2021
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Group accounts
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No Depreciation
Motor vehicles
Over 5 years on a straight line basis
The directors consider that the freehold property is maintained in such a state of repair that the residual value is at least equal to its book value. As a result, the corresponding depreciation would not be material and therefore is not charged to the profit and loss account.
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Vale Bridgecraft Ltd
Notes to the financial statements (continued)
for the year ended 31 December 2021
- 3 -
2
Tangible fixed assets
Freehold land and buildings
Motor vehicles
Total
£
£
£
Cost
At 1 January 2021
500,000
46,375
546,375
Additions
15,980
15,980
Disposals
(9,675)
(9,675)
At 31 December 2021
500,000
52,680
552,680
Depreciation and impairment
At 1 January 2021
6,341
6,341
Depreciation charged in the year
7,717
7,717
Eliminated in respect of disposals
(1,105)
(1,105)
At 31 December 2021
12,953
12,953
Carrying amount
At 31 December 2021
500,000
39,727
539,727
At 31 December 2020
500,000
40,034
540,034
3
Fixed asset investments
2021
2020
£
£
Investments
46,861
46,861
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
124,571
5
Creditors: amounts falling due within one year
2021
2020
£
£
Amounts owed to group undertakings
41,486
6
Company information
Vale Bridgecraft Ltd is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.