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REGISTERED NUMBER: 01608676 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Valley Engraving Limited

Valley Engraving Limited (Registered number: 01608676)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Valley Engraving Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr R L Dawson
Mr N R Dawson
Mr L Dawson
Mrs J G Gowen





SECRETARY: Mrs J G Gowen





REGISTERED OFFICE: Unit 4 Players Industrial Est
Clydach
SWANSEA
SA6 5BQ





REGISTERED NUMBER: 01608676 (England and Wales)





ACCOUNTANTS: Ashmole & Co
151 Windsor Road
NEATH
SA11 1NU

Valley Engraving Limited (Registered number: 01608676)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,716 53,395

CURRENT ASSETS
Stocks 22,333 23,112
Debtors 5 112,137 128,980
Cash at bank and in hand 42,409 71,771
176,879 223,863
CREDITORS
Amounts falling due within one year 6 75,200 93,108
NET CURRENT ASSETS 101,679 130,755
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,395

184,150

CREDITORS
Amounts falling due after more than one
year

7

(43,700

)

(68,750

)

PROVISIONS FOR LIABILITIES (8,116 ) (10,145 )
NET ASSETS 92,579 105,255

CAPITAL AND RESERVES
Called up share capital 8 210 210
Share premium 9 9,990 9,990
Retained earnings 9 82,379 95,055
SHAREHOLDERS' FUNDS 92,579 105,255

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.

Valley Engraving Limited (Registered number: 01608676)

Balance Sheet - continued
31 March 2023


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 20 October 2023 and were signed on its behalf by:





Mrs J G Gowen - Director


Valley Engraving Limited (Registered number: 01608676)

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

1. STATUTORY INFORMATION

Valley Engraving Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Valley Engraving Limited (Registered number: 01608676)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Land & Plant and Motor
buildings machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 9,992 302,727 61,791 374,510
DEPRECIATION
At 1 April 2022 9,992 258,206 52,917 321,115
Charge for year - 8,904 1,775 10,679
At 31 March 2023 9,992 267,110 54,692 331,794
NET BOOK VALUE
At 31 March 2023 - 35,617 7,099 42,716
At 31 March 2022 - 44,521 8,874 53,395

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 59,507 68,048
Amounts recoverable on contracts 31,643 27,202
Other debtors 350 350
Directors' current accounts 20,637 33,380
112,137 128,980

Valley Engraving Limited (Registered number: 01608676)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,000 18,000
Hire purchase contracts 7,050 7,050
Trade creditors 18,448 25,084
Tax 481 13,361
Social security and other taxes 5,069 4,688
VAT 19,883 11,122
Other creditors 4,689 2,480
Directors' current accounts - 9,958
Accrued expenses 1,580 1,365
75,200 93,108

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 39,000 57,000
Hire purchase contracts 4,700 11,750
43,700 68,750

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary £1 200 200
10 A Ordinary £1 10 10
210 210

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2022 95,055 9,990 105,045
Deficit for the year (5,676 ) (5,676 )
Dividends (7,000 ) (7,000 )
At 31 March 2023 82,379 9,990 92,369