Registered number
06980134
Valeform Limited
Filleted Accounts
31 March 2024
Valeform Limited
Registered number: 06980134
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 221,567 221,567
Current assets
Debtors 4 4,060 16,090
Cash at bank and in hand 5 1,185
4,065 17,275
Creditors: amounts falling due within one year 5 (66,463) (61,170)
Net current liabilities (62,398) (43,895)
Total assets less current liabilities 159,169 177,672
Creditors: amounts falling due after more than one year 6 (157,146) (171,078)
Net assets 2,023 6,594
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,923 6,494
Shareholders' funds 2,023 6,594
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Christopher Self
Director
Approved by the board on 21 March 2025
Valeform Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 221,567
At 31 March 2024 221,567
Subsidiary undertakings
The following were subsidiary undertakings of the company
The aggregate of the share capital and reserves as at 31 March 2024 and of the profit and loss for the period ended on that date for the subsidiary undertakings were as follows:
Name Aggregate of share capital and reserves Profit/(loss)
£ £
Jaycee Distributors Limited (32,411) (9,926)
Chris Self Motorcycles Limited 52,526 (11,390)
4 Debtors 2024 2023
£ £
Other debtors 4,060 16,090
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 13,933 12,875
Taxation and social security costs 14,950 15,440
Other creditors 37,580 32,855
66,463 61,170
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 157,146 171,078
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 88,982 108,092
Secured bank loans 171,079 183,953
The bank loan is secured by means of a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.
8 Loans to directors
B/fwd Paid Repaid C/fwd
£ £ £ £
Christopher Self
12,030 301 (12,331) -
12,030 301 (12,331) -
Loans to directors attract interest at the official rate of interest on balances over £10,000 and are repayable on demand.
9 Going concern
The director confirms that he will continue to provide financial support for the company for the foreseeable future. On that basis he considers the company to continue to be a going concern.
10 Other information
Valeform Limited is a private company limited by shares and incorporated in England. Its registered office is: C/o Chris Self Motorcycles Limited, Unit 1a Holywells Road, Ipswich, Suffolk, IP3 0DL
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