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REGISTERED NUMBER: 05180959 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Golden Valley Hobbies Limited

Golden Valley Hobbies Limited (Registered number: 05180959)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Golden Valley Hobbies Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: M Grandchamp





REGISTERED OFFICE: 16c Sandown Road
Sandown
Isle of Wight
PO36 9JP





REGISTERED NUMBER: 05180959 (England and Wales)





ACCOUNTANTS: Allegri & Co.
16c Sandown Road
Lake
Isle of Wight
PO36 9JP

Golden Valley Hobbies Limited (Registered number: 05180959)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,397 4,128

CURRENT ASSETS
Stocks 64,513 53,709
Debtors 5 13,515 6,071
Cash at bank and in hand 5,330 2,581
83,358 62,361
CREDITORS
Amounts falling due within one year 6 147,102 47,198
NET CURRENT (LIABILITIES)/ASSETS (63,744 ) 15,163
TOTAL ASSETS LESS CURRENT
LIABILITIES

(60,347

)

19,291

CREDITORS
Amounts falling due after more than one year 7 - 80,000
NET LIABILITIES (60,347 ) (60,709 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (60,447 ) (60,809 )
(60,347 ) (60,709 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Golden Valley Hobbies Limited (Registered number: 05180959)

Balance Sheet - continued
31 July 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 April 2024 and were signed by:





M Grandchamp - Director


Golden Valley Hobbies Limited (Registered number: 05180959)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Golden Valley Hobbies Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Golden Valley Hobbies Limited (Registered number: 05180959)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 4 ).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 7,476
DEPRECIATION
At 1 August 2022 3,348
Charge for year 731
At 31 July 2023 4,079
NET BOOK VALUE
At 31 July 2023 3,397
At 31 July 2022 4,128

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 13,515 6,071

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 372 -
Trade creditors 7,500 5,589
Taxation and social security 1,145 3,406
Other creditors 138,085 38,203
147,102 47,198

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Other creditors - 80,000

Golden Valley Hobbies Limited (Registered number: 05180959)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.7.23 31.7.22
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst - 80,000