Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31trueNo description of principal activity2022-11-01false22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02899961 2022-11-01 2023-08-31 02899961 2021-11-01 2022-10-31 02899961 2023-08-31 02899961 2022-10-31 02899961 c:Director1 2022-11-01 2023-08-31 02899961 d:FurnitureFittings 2022-11-01 2023-08-31 02899961 d:FurnitureFittings 2023-08-31 02899961 d:FurnitureFittings 2022-10-31 02899961 d:FreeholdInvestmentProperty 2022-11-01 2023-08-31 02899961 d:FreeholdInvestmentProperty 2023-08-31 02899961 d:FreeholdInvestmentProperty 2022-10-31 02899961 d:CurrentFinancialInstruments 2023-08-31 02899961 d:CurrentFinancialInstruments 2022-10-31 02899961 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 02899961 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 02899961 d:UKTax 2022-11-01 2023-08-31 02899961 d:UKTax 2021-11-01 2022-10-31 02899961 d:ShareCapital 2023-08-31 02899961 d:ShareCapital 2022-10-31 02899961 d:RetainedEarningsAccumulatedLosses 2023-08-31 02899961 d:RetainedEarningsAccumulatedLosses 2022-10-31 02899961 c:FRS102 2022-11-01 2023-08-31 02899961 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-08-31 02899961 c:FullAccounts 2022-11-01 2023-08-31 02899961 c:PrivateLimitedCompanyLtd 2022-11-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 02899961









VALIDCROFT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2023

 
VALIDCROFT LIMITED
REGISTERED NUMBER: 02899961

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

31 August
31 August
31 October
31 October
2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
-
1,223

Investment property
 6 
-
500,000

  
-
501,223

Current assets
  

Debtors: amounts falling due within one year
 7 
104,414
115,947

Cash at bank and in hand
  
1,135,007
829,521

  
1,239,421
945,468

Creditors: amounts falling due within one year
 8 
(103,175)
(182,670)

Net current assets
  
 
 
1,136,246
 
 
762,798

Total assets less current liabilities
  
1,136,246
1,264,021

  

Net assets
  
1,136,246
1,264,021


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,136,146
1,263,921

  
1,136,246
1,264,021


Page 1

 
VALIDCROFT LIMITED
REGISTERED NUMBER: 02899961
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 October 2023.



H A Harris
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
VALIDCROFT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.


General information

Validcroft Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 124 Finchley Road, London NW3 5JS. The address of its principal place of business is 31 Quantock Close, Great Ashby, Stevenage, Hertfordshire SG1 6BS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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 following principal accounting policies have been applied:

 
2.2

Going concern

The company ceased trading on 31 August 2023.

 
2.3

Currency

The company's functional and presentational currency is GBP.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue comprises rent due to the company in respect of the year. 

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. 
Grants of a revenue nature are recognised in the statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Finance costs

Finance costs are charged to the statement of income and retained earnings over the term of the debt. 

 
2.7

Taxation

Tax is recognised in the statement of income and retained earnings. The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the United Kingdom.

Page 3

 
VALIDCROFT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually. No depreciation is provided. Changes in fair value are recognised in the statement of income and retained earnings.

 
2.10

Debtors

Debtors are measured at transaction price, less any impairment. 

 
2.11

Creditors

Creditors are measured at the transaction price. 

 
2.12

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and loans to related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
VALIDCROFT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2022 - 2).


4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
1,515
-

Adjustments in respect of previous periods
(4)
(109)


1,511
(109)


Total current tax
1,511
(109)


There were no factors that affected the tax charge for the period/year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of  19% (2022 - 19%).



5.


Tangible fixed assets







Fixtures and fittings

£





At 1 November 2022
17,719


Disposals
(17,719)



At 31 August 2023

-





At 1 November 2022
16,496


Disposals
(16,496)



At 31 August 2023

-



Net book value



At 31 August 2023
-



At 31 October 2022
1,223

Page 5

 
VALIDCROFT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

6.


Investment property





Freehold investment properties

£





At 1 November 2022
500,000


Disposals
(500,000)



At 31 August 2023
-

The 2023 valuations were made by the directors, on an open market value for existing use basis.




Page 6

 
VALIDCROFT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

7.


Debtors

31 August
31 October
2023
2022
£
£


Trade debtors
-
7,013

Other debtors
104,414
102,102

Prepayments and accrued income
-
6,832

104,414
115,947



8.


Creditors: Amounts falling due within one year

31 August
31 October
2023
2022
£
£

Trade creditors
-
2,154

Corporation tax
8,874
5,676

Other taxation and social security
-
375

Other creditors
85,771
142,364

Accruals and deferred income
8,530
32,101

103,175
182,670



9.


Related party transactions

At the financial period end the company owed £85,771 to Ardmore Investments Limited (2022 : £125,771). The companies are related by virtue of common directorships. No interest is charged.
At the financial period end the company was owed the following amounts by related parties:
    S.R. Harris (director) £54,615 (2022: £49,615)
    H. Harris (director) £nil (2022: £9,024)
    C. Stockman (shareholder) £9,678 (2022: £15,475)
The loans are interest free.

 
Page 7