THE VALVE AND ACTUATOR COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
The Valve and Actuator Company Limited is a private limited company, limited by shares, incorporated and domiciled in England and Wales. The address of its registered office is 2 Chawley Park, Cumnor Hill, Oxford, OX2 9GG.
2.Accounting policies
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Basis of preparation of financial statements
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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 financial statements are rounded to the nearest pound Sterling, the functional and presentational currency of the Company.
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Cash and cash equivalents
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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.
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Cash and cash equivalents
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Allotted, called up and fully paid
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1 (2022 - 1) Ordinary share of £1.00
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The ultimate controlling party is Essco Controls Limited by virtue of its 100% shareholding.
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