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REGISTERED NUMBER: SC156640 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Valteith Limited

Valteith Limited (Registered number: SC156640)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Valteith Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: G M R Steele





REGISTERED OFFICE: Craigcrook Castle
95 Craigcrook Road
EDINBURGH
EH4 3PE





REGISTERED NUMBER: SC156640 (Scotland)





ACCOUNTANTS: J S Accounting Services Limited
13-15 Morningside Drive
EDINBURGH
EH10 5LZ

Valteith Limited (Registered number: SC156640)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 323 431
Investments 5 2,674,479 2,656,830
Investment property 6 8,777,957 8,830,081
11,452,759 11,487,342

CURRENT ASSETS
Debtors 7 116,285 16,285
Cash at bank 179,164 63,990
295,449 80,275
CREDITORS
Amounts falling due within one year 8 3,442,834 3,403,116
NET CURRENT LIABILITIES (3,147,385 ) (3,322,841 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,305,374

8,164,501

CREDITORS
Amounts falling due after more than one
year

9

(1,431,056

)

(1,449,732

)

PROVISIONS FOR LIABILITIES (303,271 ) (303,271 )
NET ASSETS 6,571,047 6,411,498

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 11 3,433,255 3,415,606
Retained earnings 3,137,790 2,995,890
SHAREHOLDERS' FUNDS 6,571,047 6,411,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Valteith Limited (Registered number: SC156640)

Balance Sheet - continued
31 March 2024


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 20 March 2025 and were signed by:





G M R Steele - Director


Valteith Limited (Registered number: SC156640)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Valteith Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Tangible fixed assets include investment properties valued by the director on fair value basis.

Investment properties are included in the balance sheet at their fair value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities(effective April 2008), it is a departure from the general requirement of the Companies act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount of this might otherwise have been charged cannot be separately identified or quantified.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investments
Fixed asset investments are valued based on the net asset position of the company in which the investment is made with reference to the percentage holding of the shareholding in each company.

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.


Valteith Limited (Registered number: SC156640)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 38,596
DEPRECIATION
At 1 April 2023 38,165
Charge for year 108
At 31 March 2024 38,273
NET BOOK VALUE
At 31 March 2024 323
At 31 March 2023 431

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 April 2023 2,656,830
Revaluations 17,649
At 31 March 2024 2,674,479
NET BOOK VALUE
At 31 March 2024 2,674,479
At 31 March 2023 2,656,830

Valteith Limited (Registered number: SC156640)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2024 is represented by:

Shares in
group
undertakings
£   
Valuation in 2024 2,674,479

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 8,830,081
Disposals (52,124 )
At 31 March 2024 8,777,957
NET BOOK VALUE
At 31 March 2024 8,777,957
At 31 March 2023 8,830,081

The valuations of investment properties were made as at 31 March 2024 by the director on an fair value basis.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 8,777,957

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 116,285 16,285

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 48,212 74,412
Trade creditors 26,485 29,126
Amounts owed to group undertakings 3,284,929 3,241,142
Taxation and social security 61,682 53,677
Other creditors 21,526 4,759
3,442,834 3,403,116

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 1,431,056 1,449,732

Valteith Limited (Registered number: SC156640)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 1,479,268 1,524,144

The company has granted its bankers, the Royal Bank of Scotland plc, a bond and floating charge over the whole of the assets of the company.

11. RESERVES
Fair
value
reserve
£   
At 1 April 2023 3,415,606
Revaluation during the year 17,649

At 31 March 2024 3,433,255

12. RELATED PARTY DISCLOSURES

At the year end a balance of £1,523,894 was due to Valallan Limited (2023 - £1,509,494). There was a balance of £1,761036 due to Valern (2023 - £1,731,648). These amounts are included in creditors. Valteith holds shares in both these companies, which are ultimately controlled by G M R Steele.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G M R Steele who has an interest in the company amounting to 100% of the share capital.