IRIS Accounts Production v23.2.0.158 09288479 Board of Directors 1.4.22 31.3.23 31.3.23 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure092884792022-03-31092884792023-03-31092884792022-04-012023-03-31092884792021-03-31092884792021-04-012022-03-31092884792022-03-3109288479ns16:EnglandWales2022-04-012023-03-3109288479ns15:PoundSterling2022-04-012023-03-3109288479ns11:Director12022-04-012023-03-3109288479ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3109288479ns11:SmallEntities2022-04-012023-03-3109288479ns11:AuditExemptWithAccountantsReport2022-04-012023-03-3109288479ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3109288479ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3109288479ns11:FullAccounts2022-04-012023-03-3109288479ns11:OrdinaryShareClass12022-04-012023-03-3109288479ns11:Director22022-04-012023-03-3109288479ns11:Director32022-04-012023-03-3109288479ns11:Director42022-04-012023-03-3109288479ns11:RegisteredOffice2022-04-012023-03-3109288479ns6:CurrentFinancialInstruments2023-03-3109288479ns6:CurrentFinancialInstruments2022-03-3109288479ns6:ShareCapital2023-03-3109288479ns6:ShareCapital2022-03-3109288479ns6:FurtherSpecificReserve1ComponentTotalEquity2023-03-3109288479ns6:FurtherSpecificReserve1ComponentTotalEquity2022-03-3109288479ns6:RetainedEarningsAccumulatedLosses2023-03-3109288479ns6:RetainedEarningsAccumulatedLosses2022-03-3109288479ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3109288479ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3109288479ns6:DeferredTaxation2022-03-3109288479ns6:DeferredTaxation2023-03-3109288479ns11:OrdinaryShareClass12023-03-3109288479ns6:RetainedEarningsAccumulatedLosses2022-03-3109288479ns6:FurtherSpecificReserve1ComponentTotalEquity2022-03-3109288479ns6:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: 09288479 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Vale Property Investments Ltd

Vale Property Investments Ltd (Registered number: 09288479)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Vale Property Investments Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S A C Morton
Ms L C Morton
D M Cheney
C J Shelbourne





REGISTERED OFFICE: Belton Park
Londonthorpe Road
Grantham
Lincolnshire
NG31 9SJ





REGISTERED NUMBER: 09288479 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Vale Property Investments Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vale Property Investments Ltd for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Vale Property Investments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vale Property Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Vale Property Investments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vale Property Investments Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Vale Property Investments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vale Property Investments Ltd. You consider that Vale Property Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Vale Property Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


12 October 2023

Vale Property Investments Ltd (Registered number: 09288479)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,078,911 2,983,361

CURRENT ASSETS
Debtors 5 235,513 235,963
Cash at bank 99,796 91,741
335,309 327,704
CREDITORS
Amounts falling due within one year 6 2,718,075 2,692,694
NET CURRENT LIABILITIES (2,382,766 ) (2,364,990 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

696,145

618,371

PROVISIONS FOR LIABILITIES 7 123,250 75,516
NET ASSETS 572,895 542,855

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings
- undistributable 9 413,988 366,172
Retained earnings 9 158,807 176,583
SHAREHOLDERS' FUNDS 572,895 542,855

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 12 October 2023 and were signed on its behalf by:





S A C Morton - Director


Vale Property Investments Ltd (Registered number: 09288479)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Vale Property Investments Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

The directors feel it is appropriate to prepare the financial statements on a going concern basis even though the company's current liabilities exceed its current assets.This is due to the ongoing support of a related company.

Turnover
Turnover represents rents charged to tenants, turnover is recognised based on the period it related to.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The methods and significant assumptions used to ascertain the fair value of £3,078,911 and fair value movement of £95,550 included in the profit for the year are via an external valuation of market value by local independent estate agents.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. Furthermore, timing differences also include expected chargeable gains on revalued investment property.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Vale Property Investments Ltd (Registered number: 09288479)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 2,983,361
Fair value adjustments 95,550
At 31 March 2023 3,078,911
NET BOOK VALUE
At 31 March 2023 3,078,911
At 31 March 2022 2,983,361

Cost or valuation at 31 March 2023 is represented by:
£
Cost 2,541,673
Fair value adjustments 537,238
3,078,911

Investment properties have been valued on an open market basis. The valuations have been agreed by external surveyors as at 31 March 2023.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 235,513 235,963

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,608 257
Taxation and social security 19,287 22,998
Other creditors 2,695,180 2,669,439
2,718,075 2,692,694

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax on fair value
adjustment 123,250 75,516
123,250 75,516

Deferred
tax
£   
Balance at 1 April 2022 75,516
Fair value adjustment 18,154
Change in deferred tax rates 29,580
Balance at 31 March 2023 123,250

Vale Property Investments Ltd (Registered number: 09288479)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
Retained earnings
earnings - undistributable Totals
£    £    £   

At 1 April 2022 176,583 366,172 542,755
Profit for the year 130,040 130,040
Dividends (100,000 ) (100,000 )
Transfer revaluation (95,550 ) 95,550 -
Deferred tax transfer 47,734 (47,734 ) -
At 31 March 2023 158,807 413,988 572,795