HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Company Registration Number:
07685475 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2023

Period of accounts

Start date: 01 June 2022

End date: 31 May 2023

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2023

Balance sheet
Notes

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Balance sheet

As at 31 May 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0
Fixed assets
Intangible assets: 3 192,886 198,722
Total fixed assets: 192,886 198,722
Current assets
Stocks: 43,789,078 43,789,078
Total current assets: 43,789,078 43,789,078
Net current assets (liabilities): 43,789,078 43,789,078
Total assets less current liabilities: 43,981,964 43,987,800
Creditors: amounts falling due after more than one year: 4 (43,400,055) (43,400,055)
Total net assets (liabilities): 581,909 587,745
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 581,809 587,645
Shareholders funds: 581,909 587,745

The notes form part of these financial statements

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Balance sheet statements

For the year ending 31 May 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.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 18 July 2024
and signed on behalf of the board by:

Name: Michael Carrick
Status: Director

The notes form part of these financial statements

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

3. Intangible Assets

Total
Cost £
At 01 June 2022 198,722
At 31 May 2023 198,722
Amortisation
At 01 June 2022 0
Charge for year 5,836
At 31 May 2023 5,836
Net book value
At 31 May 2023 192,886
At 31 May 2022 198,722

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

4. Creditors: amounts falling due after more than one year note

these are the secured debt obligations due to the Welsh Government and Santander

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2023

5. Post balance sheet events

Arrangemements have been agreed to convert some of the outstanding creditors to equity and the company to exit the CVA and pursue an alternative investment strategy. This will be implemented post the period of these accounts