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REGISTERED NUMBER: 00641321 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

THE VALE HIRE PURCHASE COMPANY LIMITED

THE VALE HIRE PURCHASE COMPANY LIMITED (REGISTERED NUMBER: 00641321)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE VALE HIRE PURCHASE COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: D G Farrar
G T Farrar
Mrs P Farrar



SECRETARY: Mrs P Farrar



REGISTERED OFFICE: 38-40 High Street
Rishton
Blackburn
Lancashire
BB1 4LA



REGISTERED NUMBER: 00641321 (England and Wales)



ACCOUNTANTS: Ainsworths Limited
Chartered Accountants
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY



BANKERS: HSBC Bank Plc
12 Manchester Road
Burnley
Lancashire
BB11 1JH

THE VALE HIRE PURCHASE COMPANY LIMITED (REGISTERED NUMBER: 00641321)

BALANCE SHEET
30TH APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,191 12,123

CURRENT ASSETS
Stocks 16,281 19,021
Debtors 5 57,547 50,645
Cash at bank and in hand 75,570 94,898
149,398 164,564
CREDITORS
Amounts falling due within one year 6 16,634 19,496
NET CURRENT ASSETS 132,764 145,068
TOTAL ASSETS LESS CURRENT
LIABILITIES

136,955

157,191

CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Retained earnings 132,955 153,191
SHAREHOLDERS' FUNDS 136,955 157,191

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 29th August 2024 and were signed on its behalf by:




Mrs P Farrar - Director


THE VALE HIRE PURCHASE COMPANY LIMITED (REGISTERED NUMBER: 00641321)

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


1. STATUTORY INFORMATION

The Vale Hire Purchase Company 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.

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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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.

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.

Hire purchase interest receivable
Hire purchase interest is credited to the profit and loss account when it is earned.


THE VALE HIRE PURCHASE COMPANY LIMITED (REGISTERED NUMBER: 00641321)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st May 2023 5,008 39,118 44,126
Disposals - (16,839 ) (16,839 )
At 30th April 2024 5,008 22,279 27,287
DEPRECIATION
At 1st May 2023 2,953 29,050 32,003
Charge for year 309 1,382 1,691
Eliminated on disposal - (10,598 ) (10,598 )
At 30th April 2024 3,262 19,834 23,096
NET BOOK VALUE
At 30th April 2024 1,746 2,445 4,191
At 30th April 2023 2,055 10,068 12,123

5. DEBTORS
30.4.24 30.4.23
£    £   
Amounts falling due within one year:
Trade debtors 36,521 30,302
Other debtors 6,859 5,076
43,380 35,378

Amounts falling due after more than one year:
Trade debtors 14,167 15,267

Aggregate amounts 57,547 50,645

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 9,919 11,775
Taxation and social security 2,662 554
Other creditors 4,053 7,167
16,634 19,496