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Registered Number: 10074742
England and Wales

 

 

 


Filleted Accounts

for the year ended 31 March 2024

for

THE VALE NETHERTON LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 9,633    736 
9,633    736 
Current assets      
Stocks 4 2,150    2,900 
Debtors 5 673   
Cash at bank and in hand 41,455    51,845 
44,278    54,745 
Creditors: amount falling due within one year 6 (14,977)   (9,232)
Net current assets 29,301    45,513 
 
Total assets less current liabilities 38,934    46,249 
Creditors: amount falling due after more than one year 7 (25,329)   (33,409)
Provisions for liabilities 8 (2,301)   (139)
Net assets 11,304    12,701 
 

Capital and reserves
     
Called up share capital 9 1    1 
Profit and loss account 11,303    12,700 
Shareholders' funds 11,304    12,701 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 28 March 2025 and were signed by:


-------------------------------
Kathleen Phillips
Director
1
General Information
The Vale Netherton Ltd is a private company, limited by shares, registered in England and Wales, registration number 10074742, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 4 (2023 : 6).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 April 2023 1,820    1,820 
Additions 12,109    12,109 
Disposals  
At 31 March 2024 13,929    13,929 
Depreciation
At 01 April 2023 1,084    1,084 
Charge for year 3,212    3,212 
On disposals  
At 31 March 2024 4,296    4,296 
Net book values
Closing balance as at 31 March 2024 9,633    9,633 
Opening balance as at 01 April 2023 736    736 


4.

Stocks

2024
£
  2023
£
Stocks 2,150    2,900 
2,150    2,900 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 673   
673   

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 1,177    396 
Corporation Tax 4,060    3,153 
PAYE & Social Security   1,219 
Directors' Current Accounts   624 
VAT 9,740    3,840 
14,977    9,232 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 25,329    33,409 
25,329    33,409 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 2,301    139 
2,301    139 

9.

Share Capital

Authorised
1 Ordinary share of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £1.00 each  
 

2