VALE WILLS LTD Filleted Accounts Cover
VALE WILLS LTD
Company No. 12507164
Information for Filing with The Registrar
31 March 2024
VALE WILLS LTD Directors Report Registrar
The Director presents her report and the accounts for the year ended 31 March 2024.
Principal activities
The principal activity of the company during the year under review was Wills, trusts, powers of attorney.
Director
The Director who served at any time during the year was as follows:
J. Chesterman
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
J. Chesterman
Director
26 July 2024
VALE WILLS LTD Balance Sheet Registrar
at
31 March 2024
Company No.
12507164
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
645238
645238
Current assets
Debtors
5
3,5481,207
Cash at bank and in hand
5,5667,379
9,1148,586
Creditors: Amount falling due within one year
6
(4,378)
(1,637)
Net current assets
4,7366,949
Total assets less current liabilities
5,3817,187
Net assets
5,3817,187
Capital and reserves
Called up share capital
11
Profit and loss account
8
5,3807,186
Total equity
5,3817,187
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2024 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 26 July 2024 and signed on its behalf by:
J. Chesterman
Director
26 July 2024
VALE WILLS LTD Notes to the Accounts Registrar
for the year ended 31 March 2024
1
General information
VALE WILLS LTD is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 12507164
Its registered office is:
1st Floor, Graig Offices
53 Eastgate
Cowbridge
Vale of Glamorgan
CF71 7EL
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover represents the fair value of services provided during the year on client assignments. Fair value reflects the amounts expected to be recoverable from clients based on time spent and exclude VAT.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

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 an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
25% SR
Taxation
Income tax expense 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 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 reporting period.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Leased assets
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 April 2023
806806
Additions
736736
At 31 March 2024
1,5421,542
Depreciation
At 1 April 2023
568568
Charge for the year
329329
At 31 March 2024
897897
Net book values
At 31 March 2024
645645
At 31 March 2023
238
238
5
Debtors
2024
2023
£
£
Trade debtors
3,300950
Loans to directors
101101
Prepayments and accrued income
147156
3,5481,207
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Taxes and social security
2,577
736
Accruals and deferred income
1,801901
4,3781,637
7
Share Capital
Ordinary Shares, called up and fully paid
8
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
9
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
13,200
13,186
13,200
13,186
Dividends by type:
Equity dividends
13,20013,186
13,200
13,186
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