Company No:
Contents
Note | 30.04.2024 | 30.04.2023 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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2,025,416 | 2,025,416 | |||
Current assets | ||||
Debtors | 4 |
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32,917 | 31,507 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (920,257) | (760,625) | ||
Total assets less current liabilities | 1,105,159 | 1,264,791 | ||
Creditors: amounts falling due after more than one year | 6 | (
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Net (liabilities)/assets | (
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account | (
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Total shareholders' (deficit)/funds | (
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Vale Foods (Holdings) Limited (registered number:
M A Loader
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Vale Foods (Holdings) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Vale Bakery Weston Park, Heathpark, Devonshire Road, Honiton, EX14 1ST, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £8,606. The Company is supported through loan notes. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.
Revenue from services is recognised as they are delivered.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Year ended 30.04.2024 |
Period from 22.02.2022 to 30.04.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
30.04.2024 | |
£ | |
Cost | |
At 01 May 2023 |
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At 30 April 2024 |
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Carrying value at 30 April 2024 |
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Carrying value at 30 April 2023 |
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30.04.2024 | 30.04.2023 | ||
£ | £ | ||
Prepayments and accrued income |
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VAT recoverable |
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30.04.2024 | 30.04.2023 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to Group undertakings |
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Other loans |
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Accruals |
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30.04.2024 | 30.04.2023 | ||
£ | £ | ||
Other creditors |
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Other creditors includes £1,064,000 (2023 - £1,064,000) of investor debt.
30.04.2024 | 30.04.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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215,000 | 215,000 |