2023-01-01 2023-12-31 09241168 Valid Research Ltd false 09241168 2023-01-01 2023-12-31 09241168 uk-bus:Director1 2023-01-01 2023-12-31 09241168 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09241168 uk-bus:SmallEntities 2023-01-01 2023-12-31 09241168 uk-bus:FullAccounts 2023-01-01 2023-12-31 09241168 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09241168 2023-01-01 09241168 2023-12-31 09241168 2022-12-31 xbrli:pure iso4217:GBP 09241168 2022-01-01 2022-12-31
Company Registration Number : 09241168 (England and Wales)
09241168
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2023-12-31
false
Valid Research Ltd
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2023-01-01
Valid Research Ltd
Unaudited filleted financial statements
For the year ended 31 December 2023
Valid Research Ltd
Contents
For the year ended 31 December 2023

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 7


Valid Research Ltd
Company Information
For the year ended 31 December 2023

Company registration number 09241168 (England and Wales)
Director Dr Catherine Jackson
Registered office address 13 Nevill Road
Lewes
East Sussex
BN1 1PD
Accountant Root Accountants Ltd
Chartered Management Accountants
Sandown House
LS22 7DN
Valid Research Ltd
Statement of Financial Position
For the year ended 31 December 2023

2023 2022
Notes £ £
Fixed assets
Property, plant and equipment 684 676
684 676
Current assets
Inventories 6 - 3,960
Debtors 7 7,315 -
Cash and cash equivalents 38,159 20,647
45,474 24,607
Current liabilities
Creditors: Amounts falling due within one year 8 (29,858) (14,819)
(29,858) (14,819)
Net current assets/(liabilities) 15,616 9,788
Total assets less current liabilities 16,300 10,464
Non-current liabilities
Provision for liabilities (148) (148)
Net assets/(liabilities) 16,152 10,316
Capital and reserves
Called up share capital 9 110 110
Retained earnings 16,042 10,206
Shareholder's funds 16,152 10,316
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The director acknowledges their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 26 March 2024
.............................
Dr Catherine Jackson (Director)
Company registration number: 09241168
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2023-12-31 31 December 2023
2023 2022
£ £
Fixed Assets 684 676
Current Assets 45,474 24,607
Creditors: amounts falling due within one year (29,858) (14,819)
Net current assets (liabilities) 15,616 9,788
Total assets less current liabilities 16,300 10,464
Provisions for liabilities (148) (148)
Net Assets (liabilities) 16,152 10,316
Capital and Reserves 16,152 10,316
For the year ending 31/12/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. For the year ending 31-12-2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 26 March 2024 2024-03-26 and signed on behalf of the board,
.............................
Dr Catherine Jackson
Director
Company registration number: 09241168
Valid Research Ltd
Notes to the Financial Statements
For the year ended 31 December 2023

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 13 Nevill Road, Lewes, East Sussex, BN1 1PD.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Rendering of Services
Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.
Property, plant and equipment
Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.

Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:

Asset class and depreciation rate
Land and Buildings
Plant and Machinery
Short Leasehold Properties
Investment Properties
Long Leasehold Properties
Commercial Vehicles
Fixtures and Fittings25% reducing balance
Equipment25% reducing balance
Motor Cars
Inventories
Inventories are measured at the lower of cost and net realisable value. Costs of inventories are determined on a first-in-first-out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs necessary to make the sale.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement 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 current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred Tax
A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of come and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

(4) Employees
During the year, the average number of employees including director was 1 (2022 : 1).

(5) Tangible fixed assets
Fixtures and FittingsEquipmentTotals
£££
Cost
As at 01 January 20238572,4233,280
Additions-219219
As at 31 December 20238572,6423,499
Depreciation
As at 01 January 20236601,9442,604
For the year49161210
As at 31 December 20237092,1052,814
Net book value
As at 31 December 2023147537685
As at 31 December 2022197479676

(6) Inventories
2023 2022
£ £
Stock of Finished Goods - 3,960
- 3,960

(7) Debtors
Amounts falling due within one year
2023 2022
£ £
Trade debtors 7,315 -
7,315 -

(8) Creditors: Amounts falling due within one year
2023 2022
£ £
Other taxes and social security 14,257 12,720
Other creditors 621 2,099
Accruals and deferred income 14,980 -
29,858 14,819

(9) Share capital
Alloted,called up and fully paid: 2023 2022
£ £
100 (2022 : 100) Ordinary Shares of £ 1 each100100
10 (2022 : 10) Ordinary A Shares of £ 1 each1010
110 110
Ordinary shares have full right to receive notice of, and attend vote at general meetings. One share carries one vote, and full rights to dividends and capital distributions (including upon winding up).

Ordinary A shares have full rights in respect of voting, dividend (see below), capital distribution including on winding up. Not redeemable. One share carries one vote and for voting purposes these shares rank pari passu with the other ordinary shares. The dividend entitlement is different to all other shares and is determined by the directors.
Retained earnings 2023
£
At 1 January 2023 10,206
Profit of the year 50,241
Dividends paid (44,405)
At 31 December 2023 16,042