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REGISTERED NUMBER: 00589763 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

VALENTINE EQUIPMENT LIMITED

VALENTINE EQUIPMENT LIMITED (REGISTERED NUMBER: 00589763)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VALENTINE EQUIPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: R C Witherall
S W Elliott
J Pyke
P A Sanderson





SECRETARY: E P Rosier





REGISTERED OFFICE: 4 Trafford Road
Reading
Berkshire
RG1 8JS





REGISTERED NUMBER: 00589763 (England and Wales)

VALENTINE EQUIPMENT LIMITED (REGISTERED NUMBER: 00589763)

BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 421,599 463,792
Investments 5 1,001 1
422,600 463,793

CURRENT ASSETS
Stocks 6 987,048 795,315
Debtors 7 838,288 712,493
Cash at bank and in hand 2,160,190 2,420,655
3,985,526 3,928,463
CREDITORS
Amounts falling due within one year 8 341,651 367,073
NET CURRENT ASSETS 3,643,875 3,561,390
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,066,475

4,025,183

PROVISIONS FOR LIABILITIES 6,589 10,916
NET ASSETS 4,059,886 4,014,267

VALENTINE EQUIPMENT LIMITED (REGISTERED NUMBER: 00589763)

BALANCE SHEET - continued
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 99 99
Revaluation reserve 130,655 134,333
Capital redemption reserve 1 1
Retained earnings 3,929,131 3,879,834
SHAREHOLDERS' FUNDS 4,059,886 4,014,267

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2024 and were signed on its behalf by:





R C Witherall - Director


VALENTINE EQUIPMENT LIMITED (REGISTERED NUMBER: 00589763)

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

1. STATUTORY INFORMATION

Valentine Equipment Limited (CRN00589763) is a private company, limited by shares, registered in England and Wales. The company's registered office and principal place of business is 4 Trafford Road, Reading, Berkshire, RG1 8JS

The principal activity of the company is that of the supply and service of commercial catering equipment.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Valentine Equipment Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Revenue (described as Turnover) is the fair value received or receivable for goods and services, net of returns, rebates, discounts and value added tax. Revenue is recognised on delivery of goods and completion of services.

VALENTINE EQUIPMENT LIMITED (REGISTERED NUMBER: 00589763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Plant and machinery held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of plant and machinery, less their estimated residual values, over their expected useful lives on a 15% reducing balance and 10% reducing balance basis.

Land and buildings held for the company's own use are stated at revalued amounts being its fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent impairment losses. Land and buildings are revalued with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.

Depreciation is charged on buildings over its deemed useful economic life of 50 years. Land is not depreciated. Following revaluation, depreciation is charged over the remaining useful economic life. The excess of depreciation following revaluation is released from the revaluation reserve into retained earnings.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items 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.

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

Stocks
Stocks are stated at the lower of cost and and estimated selling price less costs to sell. Cost includes the purchase price, including any taxes, duties, transport, and handling directly attributable to bringing the stock to its present location and condition. Net realisable value is based on the estimated selling price less any estimated selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

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 other third parties, and loans to related parties. Debtors are measured at transaction price, less any impairment. Short term creditors are measured at transaction price.


VALENTINE EQUIPMENT LIMITED (REGISTERED NUMBER: 00589763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Tax on profit represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from the profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the year.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities and the corresponding tax bases used to compute taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for temporary differences to the extent that it is probable that taxable profits will be available to utilise the timing difference.

Deferred tax liabilities and assets are measured at tax rates that are expected to apply in the period the liability is settled or the asset realised. The measurement of deferred tax liabilities and assets reflects the tax consequences in which the company expects to recover or settle the underlying amount of its assets and liabilities.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The obligations for contributions to defined contribution scheme are recognised as an expense in the period they are incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

VALENTINE EQUIPMENT LIMITED (REGISTERED NUMBER: 00589763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2022 380,000 160,504 108,064 648,568
Additions - 878 - 878
Disposals - - (24,091 ) (24,091 )
At 31 October 2023 380,000 161,382 83,973 625,355
DEPRECIATION
At 1 November 2022 24,183 128,758 31,835 184,776
Charge for year 8,061 3,248 17,646 28,955
Eliminated on disposal - - (9,975 ) (9,975 )
At 31 October 2023 32,244 132,006 39,506 203,756
NET BOOK VALUE
At 31 October 2023 347,756 29,376 44,467 421,599
At 31 October 2022 355,817 31,746 76,229 463,792

Cost or valuation at 31 October 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2019 76,290 - 76,290
Cost 303,710 245,355 549,065
380,000 245,355 625,355

VALENTINE EQUIPMENT LIMITED (REGISTERED NUMBER: 00589763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS - continued

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.10.23 31.10.22
£    £   
Cost 303,710 303,710
Aggregate depreciation 82,233 82,233

Value of land in freehold land and buildings 90,000 90,000

Freehold land and buildings were valued on an open market basis on 20 February 2019 by Dunster and Morton LLP .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 November 2022 1
Additions 1,000
At 31 October 2023 1,001
NET BOOK VALUE
At 31 October 2023 1,001
At 31 October 2022 1

VALENTINE EQUIPMENT LIMITED (REGISTERED NUMBER: 00589763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. FIXED ASSET INVESTMENTS - continued

The Company's fixed asset investments at the Balance Sheet date comprise the following shares in group undertakings:

Cuisine Equipment Limited
Registered office: England and Wales
Nature of business: Catering equipment supply
Class of share: Ordinary
Holding: 100%

Cooking Oil Filtration Limited
Registered office: England and Wales
Nature of business: Catering equipment supply
Class of share: Ordinary
Holding: 100%

6. STOCKS
31.10.23 31.10.22
£    £   
Machine stock 743,920 556,786
Parts stock 243,128 238,529
987,048 795,315

7. DEBTORS
31.10.23 31.10.22
£    £   
Amounts falling due within one year:
Trade debtors 648,274 526,522
Other debtors 46,938 42,685
695,212 569,207

Amounts falling due after more than one year:
Amounts owed by group undertakings 143,076 143,286

Aggregate amounts 838,288 712,493

VALENTINE EQUIPMENT LIMITED (REGISTERED NUMBER: 00589763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 12,120 29,318
Taxation and social security 210,011 224,485
Other creditors 119,520 113,270
341,651 367,073