Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-05-01falseNo description of principal activity01false 11322441 2023-05-01 2024-04-30 11322441 2022-05-01 2023-04-30 11322441 2024-04-30 11322441 2023-04-30 11322441 c:Director1 2023-05-01 2024-04-30 11322441 d:PlantMachinery 2023-05-01 2024-04-30 11322441 d:PlantMachinery 2024-04-30 11322441 d:PlantMachinery 2023-04-30 11322441 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11322441 d:MotorVehicles 2023-05-01 2024-04-30 11322441 d:MotorVehicles 2024-04-30 11322441 d:MotorVehicles 2023-04-30 11322441 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11322441 d:OfficeEquipment 2023-05-01 2024-04-30 11322441 d:OfficeEquipment 2024-04-30 11322441 d:OfficeEquipment 2023-04-30 11322441 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11322441 d:ComputerEquipment 2023-05-01 2024-04-30 11322441 d:ComputerEquipment 2024-04-30 11322441 d:ComputerEquipment 2023-04-30 11322441 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11322441 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 11322441 d:CurrentFinancialInstruments 2024-04-30 11322441 d:CurrentFinancialInstruments 2023-04-30 11322441 d:Non-currentFinancialInstruments 2024-04-30 11322441 d:Non-currentFinancialInstruments 2023-04-30 11322441 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 11322441 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 11322441 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 11322441 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 11322441 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 11322441 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 11322441 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 11322441 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 11322441 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-04-30 11322441 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-30 11322441 d:ShareCapital 2024-04-30 11322441 d:ShareCapital 2023-04-30 11322441 d:RetainedEarningsAccumulatedLosses 2024-04-30 11322441 d:RetainedEarningsAccumulatedLosses 2023-04-30 11322441 c:FRS102 2023-05-01 2024-04-30 11322441 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 11322441 c:FullAccounts 2023-05-01 2024-04-30 11322441 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11322441 2 2023-05-01 2024-04-30 11322441 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Registered number: 11322441








OUT OF THE VALLEY LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024



 















img611c.png

 
OUT OF THE VALLEY LTD
REGISTERED NUMBER:11322441

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,823
5,427

  
6,823
5,427

Current assets
  

Stocks
  
18,000
10,000

Debtors: amounts falling due within one year
 5 
54,581
3,055

Cash at bank and in hand
  
106,232
34,399

  
178,813
47,454

Creditors: amounts falling due within one year
 6 
(64,866)
(41,529)

Net current assets
  
 
 
113,947
 
 
5,925

Total assets less current liabilities
  
120,770
11,352

Creditors: amounts falling due after more than one year
 7 
(12,929)
(15,026)

  

Net assets/(liabilities)
  
107,841
(3,674)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
107,840
(3,675)

  
107,841
(3,674)


Page 1

 
OUT OF THE VALLEY LTD
REGISTERED NUMBER:11322441
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 January 2025.




R McKelvie
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
OUT OF THE VALLEY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Out Of The Valley Limited is a company limited by shares, domiciled in England and Wales. The registered office address is Barkington Business Park, Staverton, Totnes, England, TQ9 6AN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director confirms that, having considered their expectations and intentions for the next twelve
months, and the availability of working capital, the company is a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
OUT OF THE VALLEY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line
Motor vehicles
-
25%
reducing balance
Office equipment
-
33%
straight line
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
OUT OF THE VALLEY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
2023
£
£

Wages and salaries
-
14,000

Cost of defined contribution scheme
-
326

-
14,326


The average monthly number of employees, including directors, during the year was 0 (2023 - 1).

Page 5

 
OUT OF THE VALLEY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
7,884
9,750
1,019
5,719
24,372


Additions
2,187
-
225
2,550
4,962


Disposals
(451)
-
-
(1,622)
(2,073)



At 30 April 2024

9,620
9,750
1,244
6,647
27,261



Depreciation


At 1 May 2023
5,419
7,436
1,019
5,071
18,945


Charge for the year on owned assets
1,187
578
75
983
2,823


Disposals
(88)
-
-
(1,242)
(1,330)



At 30 April 2024

6,518
8,014
1,094
4,812
20,438



Net book value



At 30 April 2024
3,102
1,736
150
1,835
6,823



At 30 April 2023
2,465
2,314
-
648
5,427

Page 6

 
OUT OF THE VALLEY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
53,878
-

Other debtors
-
2,795

Prepayments and accrued income
703
260

54,581
3,055



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
2,097
2,097

Trade creditors
13,155
8,326

Corporation tax
37,973
-

Other taxation and social security
6,439
4,194

Other creditors
3,784
25,562

Accruals and deferred income
1,418
1,350

64,866
41,529



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,929
15,026

12,929
15,026


Page 7

 
OUT OF THE VALLEY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
2,097
2,097


2,097
2,097

Amounts falling due 1-2 years

Bank loans
2,096
2,097


2,096
2,097

Amounts falling due 2-5 years

Bank loans
6,290
6,290


6,290
6,290

Amounts falling due after more than 5 years

Bank loans
4,543
6,639

4,543
6,639

15,026
17,123



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £Nil (2023 - £326). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are  included in creditors.

 
Page 8