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REGISTERED NUMBER: 02975584 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

VALIDHIRST LIMITED

VALIDHIRST LIMITED (REGISTERED NUMBER: 02975584)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


VALIDHIRST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr P C Clementis
Mrs J Clementis



REGISTERED OFFICE: 62 The Street
Ashtead
Surrey
KT21 1AT



REGISTERED NUMBER: 02975584 (England and Wales)



ACCOUNTANTS: David Beckman & Co Ltd
62 The Street
Ashtead
Surrey
KT21 1AT



BANKERS: HSBC
54 Woodcote Road
Wallington
Surrey
SM6 0NJ

VALIDHIRST LIMITED (REGISTERED NUMBER: 02975584)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 13,110 20,610
Tangible assets 6 1,297 2,074
14,407 22,684

CURRENT ASSETS
Stocks 400,901 501,917
Debtors 7 206,254 141,380
Cash at bank 72,372 54,304
679,527 697,601
CREDITORS
Amounts falling due within one year 8 (339,266 ) (338,942 )
NET CURRENT ASSETS 340,261 358,659
TOTAL ASSETS LESS CURRENT
LIABILITIES

354,668

381,343

CREDITORS
Amounts falling due after more than one
year

9

-

(29,623

)

PROVISIONS FOR LIABILITIES (246 ) (542 )
NET ASSETS 354,422 351,178

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 354,420 351,176
SHAREHOLDERS' FUNDS 354,422 351,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

VALIDHIRST LIMITED (REGISTERED NUMBER: 02975584)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





Mr P C Clementis - Director


VALIDHIRST LIMITED (REGISTERED NUMBER: 02975584)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Validhirst 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of financial statements in compliance with FRS 102 Section 1A require the use of certain critical accounting estimates if necessary. It also requires management to exercise judgement in applying the company's accounting policies.

Turnover
Turnover represents the net invoiced sales of goods, excluding value added tax and discounts. Income is recognised when goods have been delivered to customers, such that the risks and rewards of ownership have transferred to them.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of eight years.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Inventories
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like cash and bank balances, trade and other debtors and creditors and loans from third parties. These are initially recognised at transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


VALIDHIRST LIMITED (REGISTERED NUMBER: 02975584)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Operating leases
Rentals payable under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at transaction price.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 15 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 60,000
AMORTISATION
At 1 February 2023 39,390
Charge for year 7,500
At 31 January 2024 46,890
NET BOOK VALUE
At 31 January 2024 13,110
At 31 January 2023 20,610

VALIDHIRST LIMITED (REGISTERED NUMBER: 02975584)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 8,387
DEPRECIATION
At 1 February 2023 6,313
Charge for year 777
At 31 January 2024 7,090
NET BOOK VALUE
At 31 January 2024 1,297
At 31 January 2023 2,074

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 104,807 101,363
Other debtors 101,447 40,017
206,254 141,380

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 25
Trade creditors 228,368 300,578
Taxation and social security 108,000 13,653
Other creditors 2,898 24,686
339,266 338,942

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 29,623

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 22,839

VALIDHIRST LIMITED (REGISTERED NUMBER: 02975584)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr P C Clementis
Balance outstanding at start of year 6,708 7,020
Amounts advanced 6,986 6,708
Amounts repaid (6,708 ) (7,020 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,986 6,708

Mrs J Clementis
Balance outstanding at start of year 7,265 7,577
Amounts advanced 6,986 7,265
Amounts repaid (7,265 ) (7,577 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,986 7,265

The following directors' loans were repaid in full within 9 months of the year end.