Acorah Software Products - Accounts Production 15.0.600 false true true false 16 December 2022 31 December 2023 31 December 2023 14544417 Mr Ian Hind iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14544417 2022-12-15 14544417 2023-12-31 14544417 2022-12-16 2023-12-31 14544417 frs-core:CurrentFinancialInstruments 2023-12-31 14544417 frs-core:Non-currentFinancialInstruments 2023-12-31 14544417 frs-core:RevaluationReserve 2022-12-16 2023-12-31 14544417 frs-core:RevaluationReserve 2023-12-31 14544417 frs-core:ShareCapital 2023-12-31 14544417 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 14544417 frs-bus:PrivateLimitedCompanyLtd 2022-12-16 2023-12-31 14544417 frs-bus:FilletedAccounts 2022-12-16 2023-12-31 14544417 frs-bus:SmallEntities 2022-12-16 2023-12-31 14544417 frs-bus:AuditExempt-NoAccountantsReport 2022-12-16 2023-12-31 14544417 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-16 2023-12-31 14544417 frs-bus:Director1 2022-12-16 2023-12-31 14544417 frs-countries:EnglandWales 2022-12-16 2023-12-31
Registered number: 14544417
Valley Fox Properties Limited
Unaudited Financial Statements
For the Period 16 December 2022 to 31 December 2023
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 14544417
31 December 2023
Notes £ £
FIXED ASSETS
Investment Properties 4 120,000
120,000
CURRENT ASSETS
Debtors 5 250
Cash at bank and in hand 5,978
6,228
Creditors: Amounts Falling Due Within One Year 6 (5,151 )
NET CURRENT ASSETS (LIABILITIES) 1,077
TOTAL ASSETS LESS CURRENT LIABILITIES 121,077
Creditors: Amounts Falling Due After More Than One Year 7 (110,659 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,788 )
NET ASSETS 8,630
CAPITAL AND RESERVES
Called up share capital 8 100
Revaluation reserve 9 7,622
Income Statement 908
SHAREHOLDERS' FUNDS 8,630
Page 1
Page 2
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Ian Hind
Director
9 August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Valley Fox Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14544417 . The registered office is 65 Darley Street, Bradford, West Yorkshire, BD1 3HN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern assumption is appropriate, the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes rent and service charges earned from residential lettings. Turnover is reduced for voids, rebates and other similar allowances. Turnover is recognised from the date the property is first let.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.5. 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 statement of comprehensive income 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
Page 3
Page 4
4. Investment Property
31 December 2023
£
Fair Value
As at 16 December 2022 -
Additions 110,590
Revaluations 9,410
As at 31 December 2023 120,000
5. Debtors
31 December 2023
£
Due within one year
Other debtors 250
250
6. Creditors: Amounts Falling Due Within One Year
31 December 2023
£
Other creditors 4,000
Taxation and social security 1,151
5,151
7. Creditors: Amounts Falling Due After More Than One Year
31 December 2023
£
Other creditors 110,659
110,659
8. Share Capital
31 December 2023
£
Allotted, Called up and fully paid 100
Page 4
Page 5
9. Reserves
Revaluation Reserve
£
Transfer to profit and loss 7,622
As at 31 December 2023 7,622
Page 5