Registered number
05524335
VALI INVESTMENTS LIMITED
Filleted Accounts
30 November 2023
VALI INVESTMENTS LIMITED
Registered number: 05524335
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 54,758 90,447
Investments 4 2,983,821 2,983,821
3,038,579 3,074,268
Current assets
Debtors 5 57,614 55,361
Cash at bank and in hand 106,352 45,415
163,966 100,776
Creditors: amounts falling due within one year 6 (556,046) (719,725)
Net current liabilities (392,080) (618,949)
Total assets less current liabilities 2,646,499 2,455,319
Creditors: amounts falling due after more than one year 7 (934,428) (994,549)
Provisions for liabilities (7,921) (14,158)
Net assets 1,704,150 1,446,612
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,704,050 1,446,512
Shareholders' funds 1,704,150 1,446,612
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Sanaullah V A Patel
Director
Approved by the board on 1 August 2024
VALI INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 488,639
At 30 November 2023 488,639
Depreciation
At 1 December 2022 398,192
Charge for the year 35,689
At 30 November 2023 433,881
Net book value
At 30 November 2023 54,758
At 30 November 2022 90,447
4 Investments
Other
investments
£
Cost
At 1 December 2022 2,983,821
At 30 November 2023 2,983,821
5 Debtors 2023 2022
£ £
Trade debtors 57,614 53,979
Other debtors - 1,382
57,614 55,361
6 Creditors: amounts falling due within one year 2023 2022
£ £
Loans 134,500 134,500
Vendor account 44,846 224,231
Grand venue Ltd 130,000 130,000
Trade creditors 63,397 83,566
Tenants deposits 39,017 42,017
Taxation and social security costs 132,805 100,389
Other creditors 11,481 5,022
556,046 719,725
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 28,302 144,423
Directors loan account ¦ Mr Sanaullah V A Patel 335,410 359,410
Directors loan account ¦ Mr Sajid V A Patel 476,666 396,666
Loan account ¦ Gulam Mohamed A I Patel 94,050 94,050
934,428 994,549
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 28,302 144,423
The secured bank loans are secured by way of legal charge on the company assets.
9 Controlling party
In the opinion of the director, the ultimate controlling party of the company is Mr Sanaullah V A Patel and Mr Sajid V A Patel, (The directors of the company).
10 Other information
VALI INVESTMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 10 A, Vali House, Boyle Street,
Whalley Range Business Park
Blackburn
Lancashire
BB1 6DG
VALI INVESTMENTS LIMITED 05524335 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2024 Mr Sanaullah V A Patel No description of principal activity 05524335 2021-12-01 2022-11-30 05524335 core:WithinOneYear 2022-11-30 05524335 core:AfterOneYear 2022-11-30 05524335 core:ShareCapital 2022-11-30 05524335 core:RetainedEarningsAccumulatedLosses 2022-11-30 05524335 2022-12-01 2023-11-30 05524335 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05524335 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 05524335 bus:Director40 2022-12-01 2023-11-30 05524335 1 2022-12-01 2023-11-30 05524335 2 2022-12-01 2023-11-30 05524335 core:PlantMachinery 2022-12-01 2023-11-30 05524335 countries:England 2022-12-01 2023-11-30 05524335 bus:FRS102 2022-12-01 2023-11-30 05524335 bus:FilletedAccounts 2022-12-01 2023-11-30 05524335 2023-11-30 05524335 core:WithinOneYear 2023-11-30 05524335 core:AfterOneYear 2023-11-30 05524335 core:ShareCapital 2023-11-30 05524335 core:RetainedEarningsAccumulatedLosses 2023-11-30 05524335 core:PlantMachinery 2023-11-30 05524335 2022-11-30 05524335 core:PlantMachinery 2022-11-30 iso4217:GBP xbrli:pure