Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30true2023-05-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC563798 2023-05-01 2024-04-30 SC563798 2022-05-01 2023-04-30 SC563798 2024-04-30 SC563798 2023-04-30 SC563798 c:CompanySecretary1 2023-05-01 2024-04-30 SC563798 c:Director1 2023-05-01 2024-04-30 SC563798 c:Director2 2023-05-01 2024-04-30 SC563798 c:RegisteredOffice 2023-05-01 2024-04-30 SC563798 d:PlantMachinery 2023-05-01 2024-04-30 SC563798 d:PlantMachinery 2024-04-30 SC563798 d:PlantMachinery 2023-04-30 SC563798 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC563798 d:FurnitureFittings 2023-05-01 2024-04-30 SC563798 d:FurnitureFittings 2024-04-30 SC563798 d:FurnitureFittings 2023-04-30 SC563798 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC563798 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC563798 d:CurrentFinancialInstruments 2024-04-30 SC563798 d:CurrentFinancialInstruments 2023-04-30 SC563798 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 SC563798 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 SC563798 d:ShareCapital 2024-04-30 SC563798 d:ShareCapital 2023-04-30 SC563798 d:RetainedEarningsAccumulatedLosses 2024-04-30 SC563798 d:RetainedEarningsAccumulatedLosses 2023-04-30 SC563798 c:FRS102 2023-05-01 2024-04-30 SC563798 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 SC563798 c:FullAccounts 2023-05-01 2024-04-30 SC563798 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC563798 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: SC563798










VALHALLA WLC LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

 
VALHALLA WLC LIMITED
 

COMPANY INFORMATION


DIRECTORS
B Hampton 
D Hampton 




COMPANY SECRETARY
B Hampton



REGISTERED NUMBER
SC563798



REGISTERED OFFICE
97A Glamis Road

Forfar

Angus

DD8 1DR




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
VALHALLA WLC LIMITED
REGISTERED NUMBER: SC563798

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
14,534
13,936

  
14,534
13,936

Current assets
  

Stocks
  
500
500

Debtors: amounts falling due within one year
 5 
659
567

Cash at bank and in hand
  
9,209
14,414

  
10,368
15,481

Creditors: amounts falling due within one year
 6 
(19,229)
(25,379)

Net current liabilities
  
 
 
(8,861)
 
 
(9,898)

Total assets less current liabilities
  
5,673
4,038

Provisions for liabilities
  

Deferred tax
  
(2,761)
(2,648)

  
 
 
(2,761)
 
 
(2,648)

Net assets
  
2,912
1,390


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,812
1,290

  
2,912
1,390


Page 1

 
VALHALLA WLC LIMITED
REGISTERED NUMBER: SC563798

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 July 2024.




B Hampton
D Hampton
Director
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
VALHALLA WLC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

Valhalla WLC Limited is a limited company incorporated in Scotland. The registered office in 97A Glamis Road, Forfar DD8 1DR. The principal place of business is Units 6 and 7, Gordon Park, Forfar, DD8 1WJ.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The accounts have been prepared on the going concern basis. The profit and loss reserves are negative and the company is dependant on the continuing support from the directors. The directors have confirmed that they intend to support the company for the foreseeable future.

 
2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
VALHALLA WLC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed below.

Depreciation is provided on the following basis:

Equipment
-
25%
Reducing balance
Fixtures and fittings
-
15%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
VALHALLA WLC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.8

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.9

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
VALHALLA WLC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


TANGIBLE FIXED ASSETS





Equipment
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 May 2023
26,208
13,867
40,075


Additions
4,750
-
4,750



At 30 April 2024

30,958
13,867
44,825



Depreciation


At 1 May 2023
17,502
8,637
26,139


Charge for the year on owned assets
3,367
785
4,152



At 30 April 2024

20,869
9,422
30,291



Net book value



At 30 April 2024
10,089
4,445
14,534



At 30 April 2023
8,706
5,230
13,936

Page 6

 
VALHALLA WLC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


DEBTORS

2024
2023
£
£


Prepayments and accrued income
659
567

659
567



6.


CREDITORS: Amounts falling due within one year

2024
2023
£
£

Other creditors
7,309
11,459

Accruals and deferred income
11,920
13,920

19,229
25,379



Page 7