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Registered number: 04209281










VALEGLADE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
VALEGLADE LIMITED
REGISTERED NUMBER: 04209281

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
3,115,000
3,115,000

  
3,115,000
3,115,000

Current assets
  

Debtors: amounts falling due within one year
 6 
15,563
26,567

Cash at bank and in hand
  
193,103
239,152

  
208,666
265,719

Creditors: amounts falling due within one year
 7 
(1,331,428)
(249,135)

Net current (liabilities)/assets
  
 
 
(1,122,762)
 
 
16,584

Total assets less current liabilities
  
1,992,238
3,131,584

Creditors: amounts falling due after more than one year
 8 
(183,910)
(1,315,633)

  

Net assets
  
1,808,328
1,815,951


Capital and reserves
  

Called up share capital 
 10 
10,000
10,000

Revaluation reserve
  
(26,437)
(28,552)

Profit and loss account
  
1,824,765
1,834,503

  
1,808,328
1,815,951


Page 1

 
VALEGLADE LIMITED
REGISTERED NUMBER: 04209281

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 year 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 comprehensive income 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 by: 




Dr D Briess
Director

Date: 21 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
VALEGLADE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Valeglade Limited is a company limited by shares and incorporated in England and Wales. The registered office address is 2 Communications Road, Greenham Business Park, Greenham, Newbury, RG19 6AB.

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

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

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
VALEGLADE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

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, using the straight-line method.


Fixtures & fittings
-
25%
Computer equipment
-
33%

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.

 
2.8

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.

Page 4

 
VALEGLADE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

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

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


4.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 August 2022
3,347
8,083
11,430



At 31 July 2023

3,347
8,083
11,430



Depreciation


At 1 August 2022
3,347
8,083
11,430



At 31 July 2023

3,347
8,083
11,430



Net book value



At 31 July 2023
-
-
-



At 31 July 2022
-
-
-

Page 5

 
VALEGLADE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 August 2022
3,115,000



At 31 July 2023
3,115,000

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




Page 6

 
VALEGLADE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Debtors

2023
2022
£
£


Other debtors
659
1,380

Prepayments and accrued income
4,272
18,488

Deferred taxation
10,632
6,699

15,563
26,567



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
18,620
18,620

Trade creditors
-
943

Corporation tax
-
5,319

Other taxation and social security
3,440
3,440

Other creditors
1,263,586
162,178

Accruals and deferred income
45,782
58,635

1,331,428
249,135



8.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
183,910
194,633

Other creditors
-
1,121,000

183,910
1,315,633


Page 7

 
VALEGLADE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

9.


Deferred taxation




2023
2022


£

£






At beginning of year
6,699
6,204


Charged to profit or loss
3,933
495



At end of year
10,632
6,699

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(1,186)
-

Tax losses carried forward
3,005
-

Revaluation of investment properties
8,813
6,699

10,632
6,699


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £1.00 each
10,000
10,000



11.


Related party transactions

The creditors include a short term <1 year directors' loan totalling £1,241,359 (2022: £126,054) and a long-term loan >1 year totalling £nil (2022: £1,121,000). Interest is paid annually on £430,000 of the loan at 4% totalling £17,200 (2022: £17,200).



Page 8