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REGISTERED NUMBER: SC129535 (Scotland)












Financial Statements

for the Year Ended 31 January 2023

for

Valentini (Scotland) Limited

Valentini (Scotland) Limited (Registered number: SC129535)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Valentini (Scotland) Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: V Valentini





SECRETARY: Miss T Sutherland





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC129535 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Valentini (Scotland) Limited (Registered number: SC129535)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 16,145 19,634
Investments 6 37,890 37,890
Investment property 7 1,885,000 1,003,543
1,939,035 1,061,067

CURRENT ASSETS
Inventories 2,350 2,350
Debtors 8 355,955 295,955
Cash at bank and in hand 719,870 610,319
1,078,175 908,624
CREDITORS
Amounts falling due within one year 9 627,926 603,716
NET CURRENT ASSETS 450,249 304,908
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,389,284

1,365,975

CREDITORS
Amounts falling due after more than one
year

10

(114,391

)

(136,244

)

PROVISIONS FOR LIABILITIES (204,520 ) -
NET ASSETS 2,070,373 1,229,731

CAPITAL AND RESERVES
Called up share capital 400 400
Other reserves 676,937 -
Retained earnings 1,393,036 1,229,331
SHAREHOLDERS' FUNDS 2,070,373 1,229,731

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

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

The director acknowledges his 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.

Valentini (Scotland) Limited (Registered number: SC129535)

Balance Sheet - continued
31 January 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 director and authorised for issue on 26 October 2023 and were signed by:





V Valentini - Director


Valentini (Scotland) Limited (Registered number: SC129535)

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

1. STATUTORY INFORMATION

Valentini (Scotland) Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue from the sale of food and drinks is recognised on sale to the customer.

Revenue derived from the provision of rental services is recognised in the reporting period in which the rendering of the services can be reliably measured.

All revenue excludes value added tax and trade discounts.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

Valentini (Scotland) Limited (Registered number: SC129535)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 34,500
AMORTISATION
At 1 February 2022
and 31 January 2023 34,500
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 February 2022
and 31 January 2023 70,567 51,790 1,394 123,751
DEPRECIATION
At 1 February 2022 59,697 43,026 1,394 104,117
Charge for year 2,174 1,315 - 3,489
At 31 January 2023 61,871 44,341 1,394 107,606
NET BOOK VALUE
At 31 January 2023 8,696 7,449 - 16,145
At 31 January 2022 10,870 8,764 - 19,634

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 100 37,790 37,890
NET BOOK VALUE
At 31 January 2023 100 37,790 37,890
At 31 January 2022 100 37,790 37,890

Valentini (Scotland) Limited (Registered number: SC129535)

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

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 1,066,920
Revaluations 818,080
At 31 January 2023 1,885,000
DEPRECIATION
At 1 February 2022 63,377
Revaluation adjustments (63,377 )
At 31 January 2023 -
NET BOOK VALUE
At 31 January 2023 1,885,000
At 31 January 2022 1,003,543

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2023 818,080
Cost 1,066,920
1,885,000

If Investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,066,920 -

Investment properties were valued on an open market basis on 31 January 2023 by the director .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 355,955 295,955

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 21,649 17,000
Taxation and social security 105,394 98,735
Other creditors 500,883 487,981
627,926 603,716

Valentini (Scotland) Limited (Registered number: SC129535)

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

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 54,391 76,244
Other creditors 60,000 60,000
114,391 136,244

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 54,391 76,244