Registration number:
West Vale Engineering Products Limited
for the
Year Ended 30 June 2024
West Vale Engineering Products Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
West Vale Engineering Products Limited
Balance Sheet
as at 30 June 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Allotted, called up and fully paid share capital |
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Profit and loss account |
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Shareholders' funds |
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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:
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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
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West Vale Engineering Products Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 30 June 2024
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:
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
West Vale Engineering Products Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 30 June 2024
(continued)
Tangible assets |
Fixtures, fittings and equipment |
Total |
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Cost |
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At 1 July 2023 |
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At 30 June 2024 |
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Depreciation |
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At 1 July 2023 |
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Charge for the year |
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At 30 June 2024 |
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Net book value |
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At 30 June 2024 |
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At 30 June 2023 |
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Investment properties |
2024 |
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At 1 July 2023 |
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Fair value adjustments |
( |
At 30 June 2024 |
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The investment property has been valued by the directors at open market value.
Debtors |
2024 |
2023 |
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Prepayments and accrued income |
24,578 |
4,905 |
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West Vale Engineering Products Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 30 June 2024
(continued)
Creditors |
2024 |
2023 |
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Due within one year |
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Taxation and social security |
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Corporation tax liability |
23,881 |
9,886 |
Accruals and deferred income |
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Other creditors |
- |
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Directors' loan accounts |
2,230 |
15,299 |
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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 - £
Related party transactions |
Transactions with directors |
2024 |
At 1 July 2023 |
Advances to directors |
Repayments by director |
At 30 June 2024 |
Interest free loan |
- |
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( |
- |
Interest free loan |
- |
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( |
- |
Interest free loan |
- |
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( |
- |
Interest free loan |
- |
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( |
- |
- |
29,408 |
(29,408) |
- |
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Non adjusting events after the financial period |
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