West Vale Engineering Products Limited 01473321 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of commercial property rental. Digita Accounts Production Advanced 6.30.9574.0 true 01473321 2023-07-01 2024-06-30 01473321 2024-06-30 01473321 core:RetainedEarningsAccumulatedLosses 2024-06-30 01473321 core:ShareCapital 2024-06-30 01473321 core:CurrentFinancialInstruments 2024-06-30 01473321 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 01473321 core:FurnitureFittingsToolsEquipment 2024-06-30 01473321 1 2024-06-30 01473321 2 2024-06-30 01473321 3 2024-06-30 01473321 4 2024-06-30 01473321 bus:SmallEntities 2023-07-01 2024-06-30 01473321 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 01473321 bus:FilletedAccounts 2023-07-01 2024-06-30 01473321 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 01473321 bus:RegisteredOffice 2023-07-01 2024-06-30 01473321 bus:Director1 2023-07-01 2024-06-30 01473321 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01473321 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 01473321 1 2023-07-01 2024-06-30 01473321 countries:England 2023-07-01 2024-06-30 01473321 1 2023-07-01 2024-06-30 01473321 2 2023-07-01 2024-06-30 01473321 3 2023-07-01 2024-06-30 01473321 4 2023-07-01 2024-06-30 01473321 2023-06-30 01473321 core:FurnitureFittingsToolsEquipment 2023-06-30 01473321 1 2023-06-30 01473321 2 2023-06-30 01473321 3 2023-06-30 01473321 4 2023-06-30 01473321 2022-07-01 2023-06-30 01473321 2023-06-30 01473321 core:RetainedEarningsAccumulatedLosses 2023-06-30 01473321 core:ShareCapital 2023-06-30 01473321 core:CurrentFinancialInstruments 2023-06-30 01473321 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 01473321 core:FurnitureFittingsToolsEquipment 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 01473321

West Vale Engineering Products Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

West Vale Engineering Products Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

West Vale Engineering Products Limited

Balance Sheet

as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

100

202

Investment property

5

900,000

950,000

 

900,100

950,202

Current assets

 

Debtors

6

24,578

4,905

Cash at bank

 

1,739,310

1,697,826

 

1,763,888

1,702,731

Creditors: Amounts falling due within one year

7

(60,238)

(62,018)

Net current assets

 

1,703,650

1,640,713

Total assets less current liabilities

 

2,603,750

2,590,915

Provisions for liabilities

(148,458)

(160,984)

Net assets

 

2,455,292

2,429,931

Capital and reserves

 

Allotted, called up and fully paid share capital

250

250

Profit and loss account

2,455,042

2,429,681

Shareholders' funds

 

2,455,292

2,429,931

Registration number: 01473321

 

West Vale Engineering Products Limited

Balance Sheet

as at 30 June 2024 (continued)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 12 March 2025 and signed on its behalf by:
 

.........................................
Mr I S Booth
Director

 

West Vale Engineering Products Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 June 2024

1

General information

The company is a private company limited by shares incorporated in England within the United Kingdom.

The company's registration number is 01473321.

The address of its registered office is:
First Floor
Rosemount House
Huddersfield Road
Elland
West Yorkshire
HX5 0EE

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises of rent receivable and insurance recharges and is recognised in the periods to which it relates.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 

West Vale Engineering Products Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

20% on a straight line basis

Investment property

Investment property is included at valuation. Any surplus or deficit arising from changes in fair value is included in the revaluation reserve.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2023 - 2).

 

West Vale Engineering Products Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 June 2024 (continued)

4

Tangible assets

Fixtures, fittings and equipment
 £

Total
£

Cost

At 1 July 2023

510

510

At 30 June 2024

510

510

Depreciation

At 1 July 2023

308

308

Charge for the year

102

102

At 30 June 2024

410

410

Net book value

At 30 June 2024

100

100

At 30 June 2023

202

202

5

Investment properties

2024
£

At 1 July 2023

950,000

Fair value adjustments

(50,000)

At 30 June 2024

900,000

The investment property has been valued by the directors at open market value.

6

Debtors

2024
£

2023
£

Prepayments and accrued income

24,578

4,905

24,578

4,905

 

West Vale Engineering Products Limited

Notes to the Unaudited Financial Statements

for the Year Ended 30 June 2024 (continued)

7

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

2,820

4,778

Corporation tax liability

23,881

9,886

Accruals and deferred income

31,307

31,022

Other creditors

-

1,033

Directors' loan accounts

2,230

15,299

60,238

62,018

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £12,565).

9

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to directors
£

Repayments by director
£

At 30 June 2024
£

Interest free loan

-

8,205

(8,205)

-

Interest free loan

-

8,205

(8,205)

-

Interest free loan

-

5,999

(5,999)

-

Interest free loan

-

6,999

(6,999)

-

 

-

29,408

(29,408)

-

       

 

10

Non adjusting events after the financial period

The company sold a property in September 2024 for £900,000.