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REGISTERED NUMBER: 10030311 (England and Wales)















JAMES VARLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023






JAMES VARLEY LIMITED (REGISTERED NUMBER: 10030311)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


JAMES VARLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr J P Varley





REGISTERED OFFICE: Town Wall House
Balkerne Hill
Colchester
Essex
CO3 3AD





REGISTERED NUMBER: 10030311 (England and Wales)

JAMES VARLEY LIMITED (REGISTERED NUMBER: 10030311)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 8,014 8,617

CURRENT ASSETS
Stocks 30,707 24,358
Debtors 5 991 853
Cash at bank and in hand 84,190 82,484
115,888 107,695
CREDITORS
Amounts falling due within one year 6 (36,440 ) (45,030 )
NET CURRENT ASSETS 79,448 62,665
TOTAL ASSETS LESS CURRENT LIABILITIES 87,462 71,282

CREDITORS
Amounts falling due after more than one year 7 (7,083 ) (12,083 )

PROVISIONS FOR LIABILITIES (978 ) (996 )
NET ASSETS 79,401 58,203

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 79,400 58,202
SHAREHOLDERS' FUNDS 79,401 58,203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2024 and were signed by:





Mr J P Varley - Director


JAMES VARLEY LIMITED (REGISTERED NUMBER: 10030311)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

James Varley 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% straight line
Motor vehicles - 15% on reducing balance
Computer equipment - 10% straight line

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

JAMES VARLEY LIMITED (REGISTERED NUMBER: 10030311)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 20,312 114 2,875 23,301
Additions - - 737 737
At 31 December 2023 20,312 114 3,612 24,038
DEPRECIATION
At 1 January 2023 12,674 98 1,912 14,684
Charge for year 1,145 4 191 1,340
At 31 December 2023 13,819 102 2,103 16,024
NET BOOK VALUE
At 31 December 2023 6,493 12 1,509 8,014
At 31 December 2022 7,638 16 963 8,617

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 991 853

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 6,416 7,028
Taxation and social security 16,584 11,212
Other creditors 8,440 21,790
36,440 45,030

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 7,083 12,083