Company Registration No. 04985894 (England and Wales)
Vinevalley Limited
Unaudited financial statements
For the year ended 31 December 2022
Pages for filing with registrar
VINEVALLEY LIMITED
Vinevalley Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
VINEVALLEY LIMITED
Vinevalley Limited
COMPANY INFORMATION
Directors
P Williams
A Brockley
Secretary
P Williams
Company number
04985894
Registered office
55 Loudoun Road
St John's Wood
London
NW8 0DL
Accountants
MGR Weston Kay LLP
55 Loudoun Road
St John's Wood
London
NW8 0DL
Business address
The Timber Yard
111 Drysdale Street
London
N1 6ND
Bankers
Cynergy Bank
87 Chase Side
London
N14 5WH
VINEVALLEY LIMITED
Vinevalley Limited
BALANCE SHEET
AS AT 31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
11,468
38,726
Investment properties
2
2,200,000
2,520,000
2,211,468
2,558,726
Current assets
Debtors
4
115,891
140,447
Cash at bank and in hand
19,687
26,916
135,578
167,363
Creditors: amounts falling due within one year
5
(43,639)
(41,680)
Net current assets
91,939
125,683
Total assets less current liabilities
2,303,407
2,684,409
Creditors: amounts falling due after more than one year
6
(1,179,359)
(1,166,779)
Provisions for liabilities
(268,126)
(264,576)
Net assets
855,922
1,253,054
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
855,822
1,252,954
Total equity
855,922
1,253,054

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2022 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.

VINEVALLEY LIMITED
Vinevalley Limited
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022
31 December 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 4 October 2023 and are signed on its behalf by:
P Williams
Director
Company Registration No. 04985894
VINEVALLEY LIMITED
Vinevalley Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information

Vinevalley Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.

1.1
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, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements , the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover
Turnover represents amounts of rent receivable net of VAT.
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value as the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

VINEVALLEY LIMITED
Vinevalley Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

 

 

 

 

 

VINEVALLEY LIMITED
Vinevalley Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 5 -
2
Investment property
2022
£
Fair value
At 1 January 2022
2,520,000
Revaluations
(320,000)
At 31 December 2022
2,200,000

The valuation of investment properties was made as at 31 December 2022 by the directors of the company on an open market basis. No depreciation was provided in respect of these properties.

 

On historical cost basis the properties would have been disclosed at an original cost of £840,224 (2021: £840,224).

3
Tangible fixed assets
Plant and machinery
£
Cost or valuation
At 1 January 2022 and 31 December 2022
181,253
Depreciation and impairment
At 1 January 2022
142,527
Depreciation charged in the year
27,258
At 31 December 2022
169,785
Carrying amount
At 31 December 2022
11,468
At 31 December 2021
38,726
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
115,891
140,447
VINEVALLEY LIMITED
Vinevalley Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
-
0
2,993
Taxation and social security
2,898
4,452
Other creditors
40,741
34,235
43,639
41,680
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
1,115,000
1,115,000
Other creditors
64,359
51,779
1,179,359
1,166,779

The bank loans are secured by a legal change over the investment properties of the company.

7
Called up share capital
2022
2021
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
8
Control

The company is jointly controlled by Mr P Williams and Mr A Brockley by virtue of their combined shareholdings.

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