Acorah Software Products - Accounts Production 16.1.300 false true false 14 June 2023 31 August 2024 31 August 2024 SC772637 Mr Valentin Getov iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC772637 2023-06-13 SC772637 2024-08-31 SC772637 2023-06-14 2024-08-31 SC772637 frs-core:ShareCapital 2024-08-31 SC772637 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 SC772637 frs-bus:PrivateLimitedCompanyLtd 2023-06-14 2024-08-31 SC772637 frs-bus:FilletedAccounts 2023-06-14 2024-08-31 SC772637 frs-bus:SmallEntities 2023-06-14 2024-08-31 SC772637 frs-bus:AuditExemptWithAccountantsReport 2023-06-14 2024-08-31 SC772637 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-14 2024-08-31 SC772637 frs-bus:Director1 2023-06-14 2024-08-31 SC772637 frs-bus:Director1 2023-06-13 SC772637 frs-bus:Director1 2024-08-31 SC772637 frs-countries:Scotland 2023-06-14 2024-08-31
Registered number: SC772637
Valentins Lettings (Fife) Limited
Financial Statements
For the Period 14 June 2023 to 31 August 2024
Gillespie's Fife
Contents
Page
Accountants' Report 1
Balance Sheet 2
Notes to the Financial Statements 3—4
Page 1
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Valentins Lettings (Fife) Limited for the period 14 June 2023 to 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Valentins Lettings (Fife) Limited for the period 14 June 2023 to 31 August 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Valentins Lettings (Fife) Limited , as a body, in accordance with the terms of our engagement letter dated 14 June 2023. Our work has been undertaken solely to prepare for your approval the accounts of Valentins Lettings (Fife) Limited and state those matters that we have agreed to state to the director of Valentins Lettings (Fife) Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Valentins Lettings (Fife) Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that Valentins Lettings (Fife) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Valentins Lettings (Fife) Limited . You consider that Valentins Lettings (Fife) Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit of the accounts of Valentins Lettings (Fife) Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
8th December 2024
Gillespie's Fife
Accountants
Fric Ajax Way
Methil
Leven
KY8 3RS
Page 1
Page 2
Balance Sheet
Registered number: SC772637
31 August 2024
Notes £ £
FIXED ASSETS
Investment Properties 4 966,472
966,472
CURRENT ASSETS
Cash at bank and in hand 591
591
Creditors: Amounts Falling Due Within One Year 6 (973,162 )
NET CURRENT ASSETS (LIABILITIES) (972,571 )
TOTAL ASSETS LESS CURRENT LIABILITIES (6,099 )
NET LIABILITIES (6,099 )
CAPITAL AND RESERVES
Called up share capital 7 200
Profit and Loss Account (6,299 )
SHAREHOLDERS' FUNDS (6,099)
For the period ending 31 August 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 Valentin Getov
Director
8th December 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Valentins Lettings (Fife) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC772637 . The registered office is 29 Queen Margaret Drive , Glenrothes, Fife, KY7 4HR.
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. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Investment Property
31 August 2024
£
Fair Value
As at 14 June 2023 -
Additions 966,472
As at 31 August 2024 966,472
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
31 August 2024
£
Cost 966,472
Accumulated depreciation and impairment 96,647
Carrying amount 869,825
Page 3
Page 4
5. Debtors
31 August 2024
£
Due within one year
6. Creditors: Amounts Falling Due Within One Year
31 August 2024
£
Other creditors 973,162
7. Share Capital
31 August 2024
£
Allotted, Called up and fully paid 200
8. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 14 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Valentin Getov - 341,308 664,691 - 323,383
The above loan is unsecured, interest free and repayable on demand.
9. Dividends
31 August 2024
£
On equity shares:
Interim dividend paid 1,000
Interim dividends of £1,000 were declared on 24 October 2023.
Page 4