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REGISTERED NUMBER: 10726391 (England and Wales)


















VALE CAR SALES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






VALE CAR SALES LIMITED (REGISTERED NUMBER: 10726391)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VALE CAR SALES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: S Paterson





REGISTERED OFFICE: Leckwith Road
Llandough
PENARTH
Vale of Glamorgan
CF64 2LY





REGISTERED NUMBER: 10726391 (England and Wales)





ACCOUNTANTS: MHA (trading name of MacIntyre Hudson LLP)
Limited liability partnership in England & Wales
Registered number OC312313
Elfed House
Oak Tree Court
Cardiff Gate Business Park
CARDIFF
County of Cardiff
CF23 8RS

VALE CAR SALES LIMITED (REGISTERED NUMBER: 10726391)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 1,575

CURRENT ASSETS
Stocks - 176,530
Debtors 5 3,309 2,713
Cash at bank and in hand 1,948 22,074
5,257 201,317
CREDITORS
Amounts falling due within one year 6 (5,255 ) (97,738 )
NET CURRENT ASSETS 2 103,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

2

105,154

CREDITORS
Amounts falling due after more than one
year

7

-

(20,833

)

PROVISIONS FOR LIABILITIES - (394 )
NET ASSETS 2 83,927

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings - 83,925
SHAREHOLDERS' FUNDS 2 83,927

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

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

The director acknowledges his 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 September 2024 and were signed by:




S Paterson - Director


VALE CAR SALES LIMITED (REGISTERED NUMBER: 10726391)

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


1. STATUTORY INFORMATION

Vale Car Sales 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

There have been no material departures from Financial Reporting Standard 102 1A.

Going concern
The company ceased trading on 30 April 2024. The assets and liabilities of the company have been reviewed in light of this and no adjustments are considered necessary.

Turnover
Turnover represents amounts receivable in respect of the sales of second hand vehicles during the year, net of Value Added Tax..

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 - 25% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, 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 Profit and loss account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

VALE CAR SALES LIMITED (REGISTERED NUMBER: 10726391)

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


2. ACCOUNTING POLICIES - continued

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.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Non-derivative financial instruments
Basic financial instruments are recognised at amortised cost.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
Fittings
£   
COST
At 1 May 2023 6,628
Disposals (6,628 )
At 30 April 2024 -
DEPRECIATION
At 1 May 2023 5,053
Charge for year 698
Eliminated on disposal (5,751 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 1,575

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Social security and other tax - 2,713
Corporation tax 3,309 -
3,309 2,713

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 10,000
Trade creditors - 5,181
Corporation tax - 561
VAT 21 8,901
Director's loan account 3,089 65,215
Accruals and deferred income 2,145 7,880
5,255 97,738

VALE CAR SALES LIMITED (REGISTERED NUMBER: 10726391)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 20,833

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2