Acorah Software Products - Accounts Production 16.0.110 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 11773196 Mr Rafi Haqani iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11773196 2023-01-31 11773196 2024-01-31 11773196 2023-02-01 2024-01-31 11773196 frs-core:CurrentFinancialInstruments 2024-01-31 11773196 frs-core:Non-currentFinancialInstruments 2024-01-31 11773196 frs-core:ShareCapital 2024-01-31 11773196 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 11773196 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11773196 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 11773196 frs-bus:SmallEntities 2023-02-01 2024-01-31 11773196 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 11773196 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11773196 frs-bus:Director1 2023-02-01 2024-01-31 11773196 frs-countries:EnglandWales 2023-02-01 2024-01-31 11773196 2022-01-31 11773196 2023-01-31 11773196 2022-02-01 2023-01-31 11773196 frs-core:CurrentFinancialInstruments 2023-01-31 11773196 frs-core:Non-currentFinancialInstruments 2023-01-31 11773196 frs-core:ShareCapital 2023-01-31 11773196 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 11773196
Valley Diamonds Limited
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 11773196
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 - 50,556
Debtors 5 2,466 -
Cash at bank and in hand 82,441 31,885
84,907 82,441
Creditors: Amounts Falling Due Within One Year 6 (21,658 ) (9,504 )
NET CURRENT ASSETS (LIABILITIES) 63,249 72,937
TOTAL ASSETS LESS CURRENT LIABILITIES 63,249 72,937
Creditors: Amounts Falling Due After More Than One Year 7 (51,257 ) (61,437 )
NET ASSETS 11,992 11,500
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 11,991 11,499
SHAREHOLDERS' FUNDS 11,992 11,500
For the year ending 31 January 2024 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 Profit and Loss Account.
On behalf of the board
Mr Rafi Haqani
Director
30/10/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Valley Diamonds Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11773196 . The registered office is 167/169 Great Portland Street, 5th Floor, London, W1W 5PF.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Stocks
2024 2023
£ £
Materials - 50,556
5. Debtors
2024 2023
£ £
Due within one year
Director's loan account 2,466 -
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 14,888 1,922
Bank loans and overdrafts 6,770 6,770
Director's loan account - 812
21,658 9,504
Page 2
Page 3
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Trade creditors 23,114 23,114
Bank loans 32,881 43,061
Other creditors (4,738 ) (4,738 )
51,257 61,437
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 3