Company registration number 03413672 (England and Wales)
VALEBRIDGE PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
VALEBRIDGE PROPERTIES LIMITED
COMPANY INFORMATION
Director
A Pabani
Company number
03413672
Registered office
First Floor
73-75 High Street
Stevenage
Hertfordshire
SG1 3HR
VALEBRIDGE PROPERTIES LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2022
30 September 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investment property
3
1,642,815
1,293,534
Investments
4
2,683
2,683
1,645,498
1,296,217
Current assets
Debtors
6
1,550,785
1,751,299
Cash at bank and in hand
17,601
15,949
1,568,386
1,767,248
Creditors: amounts falling due within one year
7
(1,302,213)
(1,095,246)
Net current assets
266,173
672,002
Total assets less current liabilities
1,911,671
1,968,219
Creditors: amounts falling due after more than one year
8
(521,330)
(521,330)
Net assets
1,390,341
1,446,889
Capital and reserves
Called up share capital
1,035,153
1,035,153
Share premium account
4,726
4,726
Profit and loss reserves
350,462
407,010
Total equity
1,390,341
1,446,889

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

VALEBRIDGE PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2022
30 September 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 23 February 2024
A Pabani
Director
Company registration number 03413672 (England and Wales)
VALEBRIDGE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 3 -
1
Accounting policies
Company information

Valebridge Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, 73-75 High Street, Stevenage, Hertfordshire, SG1 3HR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover comprises the fair value of rental income received or receivable in the ordinary course of the company's activities. The company recognises revenue on a straight line basis over the term of the lease agreement.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

VALEBRIDGE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
1
1
3
Investment property
2022
£
Fair value
At 1 October 2021
1,293,534
Additions
349,281
At 30 September 2022
1,642,815

In the opinion of the director, the carrying amount of the investment property is not materially different from it's open market value at the balance sheet date.

4
Fixed asset investments
2022
2021
£
£
Investments
2,683
2,683
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 October 2021 & 30 September 2022
2,683
Carrying amount
At 30 September 2022
2,683
At 30 September 2021
2,683
5
Subsidiaries

Details of the company's subsidiaries at 30 September 2022 are as follows:

VALEBRIDGE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
5
Subsidiaries
(Continued)
- 5 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Archguild Limited
First Floor, 73-75 High Street, Stevenage, Hertfordshire, England, SG1 3HR
Ordinary
100.00
Ashdean Limited
First Floor, 73-75 High Street, Stevenage, Hertfordshire, England, SG1 3HR
Ordinary
100.00
6
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,506,981
1,554,542
Other debtors
43,804
196,757
1,550,785
1,751,299
7
Creditors: amounts falling due within one year
2022
2021
£
£
Amounts owed to group undertakings
966,929
862,012
Taxation and social security
45,196
48,116
Other creditors
290,088
185,118
1,302,213
1,095,246
8
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
521,330
521,330

The company has allowed a fixed charge and a floating charge over the company’s assets as security against loan balances.

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