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Company registration number: 3844960
The Valley In The City Limited
Pages for filing with Registrar
30 September 2024
The Valley In The City Limited
Contents
Statement of financial position
Notes to the financial statements
The Valley In The City Limited
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Current assets
Cash at bank and in hand 19 105
_______ _______
19 105
Creditors: amounts falling due
within one year 5 ( 103,827) ( 103,807)
_______ _______
Net current liabilities ( 103,808) ( 103,702)
_______ _______
Total assets less current liabilities ( 103,808) ( 103,702)
_______ _______
Net liabilities ( 103,808) ( 103,702)
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account ( 104,808) ( 104,702)
_______ _______
Shareholders deficit ( 103,808) ( 103,702)
_______ _______
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
Syed Nadir Aziz
Director
Company registration number: 3844960
The Valley In The City Limited
Notes to the financial statements
Year ended 30 September 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 Stephenson Coates, West 2, Asama Court, Newcastle Business Park, Newcastle upon Tyne, NE4 7YD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Income statement policy
The company is dormant as defined by section 1169 of the Companies Act 2006. The company incurred no significant transactions during the current year or prior year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Creditors: amounts falling due within one year
2024 2023
£ £
Other creditors 103,827 103,807
_______ _______
6. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2024 2023 2024 2023
£ £ £ £
The Valley Junction 397 Limited - - ( 88,800) ( 88,800)
The Valley Corbridge Limited - - ( 9,037) ( 9,037)
_______ _______ _______ _______
The Valley Junction 397 Limited, a company controlled by Mr S N Aziz, is owed £88,800 by the company as at 30 September 2024 (2023: £88,800). The Valley Corbridge Limited, a company controlled by Mr S N Aziz, is owed £9,037 the company as at 30 September 2024 (2023: £8,037).
7. Controlling party
Mr S N Aziz is the ultimate controlling party as he holds 100% of the company's issued share capital.
8. Going Concern
Notwithstanding the deficiency in shareholder's funds, the financial statements are prepared on a going concern basis. The director is satisified that funding is in place to enable the company to continue to trade for the foreseeable future.