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COMPANY REGISTRATION NUMBER: 13266195
VALLEY ESTATE HOLDINGS LIMITED
Filleted Unaudited Financial Statements
31 March 2024
VALLEY ESTATE HOLDINGS LIMITED
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Investments
4
2,645,930
2,645,930
Current assets
Debtors
5
1,015
502,159
Cash at bank and in hand
15,794
20,910
--------
---------
16,809
523,069
Creditors: amounts falling due within one year
6
51,935
548,403
--------
---------
Net current liabilities
35,126
25,334
------------
------------
Total assets less current liabilities
2,610,804
2,620,596
Creditors: amounts falling due after more than one year
7
2,610,709
2,647,407
------------
------------
Net assets/(liabilities)
95
( 26,811)
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 5)
( 26,911)
----
--------
Shareholders funds/(deficit)
95
( 26,811)
----
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
VALLEY ESTATE HOLDINGS LIMITED
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 19 March 2025 , and are signed on behalf of the board by:
Harpal Singh Chana
Charandip Kaur Bansal
Director
Director
Company registration number: 13266195
VALLEY ESTATE HOLDINGS LIMITED
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 11, Mansard House, Brember Road, Harrow, HA2 8AX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Investments
Other investments other than loans
£
Cost
At 1 April 2023 and 31 March 2024
2,645,930
------------
Impairment
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 31 March 2024
2,645,930
------------
At 31 March 2023
2,645,930
------------
5. Debtors
2024
2023
£
£
Other debtors
1,015
502,159
-------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
46,404
546,403
Other creditors
5,531
2,000
--------
---------
51,935
548,403
--------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,425,899
1,453,597
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,184,810
1,193,810
------------
------------
2,610,709
2,647,407
------------
------------
The loan is secured by fixed and floating charge over the assets of the company.
8. Related party transactions
The company was under the control of Harpal Singh Chana and Charandip Kaur Bansal throughout the current and previous year. Both the directors of The Hub Stores Limited hold 100% (in total) of issued share capital of this company At the year-end amount owed to The Hub Stores Limited was £1,184,810. (2023: £1,193,810) and rent received was £175,000 (2023 £0). The bank loan is guaranteed by The Hub Stores Limited and the directors'.