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REGISTERED NUMBER: SC437999 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

VAL NORTON LTD

VAL NORTON LTD (REGISTERED NUMBER: SC437999)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VAL NORTON LTD

COMPANY INFORMATION
for the Year Ended 30 November 2024







DIRECTOR: Mrs V Norton





REGISTERED OFFICE: Pannanich Wells Hotel
South Deeside Road
Ballater
Aberdeenshire
AB35 5SJ





REGISTERED NUMBER: SC437999 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

VAL NORTON LTD (REGISTERED NUMBER: SC437999)

BALANCE SHEET
30 November 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 18,149 22,021
Cash at bank 98,225 89,009
116,374 111,030
CREDITORS
Amounts falling due within one year 5 10,492 9,986
NET CURRENT ASSETS 105,882 101,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

105,882

101,044

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 105,782 100,944
SHAREHOLDERS' FUNDS 105,882 101,044

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

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

The director acknowledges her 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 23 January 2025 and were signed by:





Mrs V Norton - Director


VAL NORTON LTD (REGISTERED NUMBER: SC437999)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Val Norton Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans are recognised at transaction price.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 18,149 22,021

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 8,728 8,317
Other creditors 1,764 1,669
10,492 9,986

VAL NORTON LTD (REGISTERED NUMBER: SC437999)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
Mrs V Norton
Balance outstanding at start of year (324 ) (324 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (324 ) (324 )

The above loans are interest free and have no set repayment terms.