REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 10 JULY 2023 TO 31 DECEMBER 2024 |
FOR |
VALLEY RAIL LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 10 JULY 2023 TO 31 DECEMBER 2024 |
FOR |
VALLEY RAIL LTD |
VALLEY RAIL LTD (REGISTERED NUMBER: 14993250) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 10 JULY 2023 TO 31 DECEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
VALLEY RAIL LTD |
COMPANY INFORMATION |
FOR THE PERIOD 10 JULY 2023 TO 31 DECEMBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants and Business Advisors |
Finchale House |
Belmont Business Park |
Durham |
DH1 1TW |
VALLEY RAIL LTD (REGISTERED NUMBER: 14993250) |
BALANCE SHEET |
31 DECEMBER 2024 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their 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. |
VALLEY RAIL LTD (REGISTERED NUMBER: 14993250) |
BALANCE SHEET - continued |
31 DECEMBER 2024 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
VALLEY RAIL LTD (REGISTERED NUMBER: 14993250) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 10 JULY 2023 TO 31 DECEMBER 2024 |
1. | STATUTORY INFORMATION |
Valley Rail Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue comprises the fair value of the consideration received or receivable for the sale of goods and |
provision of services in the ordinary course of the company’s activities. Revenue is shown net of |
sales/value added tax, returns, rebates and discounts. |
The company recognises revenue when: |
The amount of revenue can be reliably measured; |
it is probable that future economic benefits will flow to the entity; |
and specific criteria have been met for each of the company's activities. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Other intangible assets are being amortised each year based on the assumptions at that time. The low value of these at the year end has resulted in no amortisation being charged this year. |
Tangible fixed assets |
Plant and machinery | - |
Rolling railway stock | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
VALLEY RAIL LTD (REGISTERED NUMBER: 14993250) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 10 JULY 2023 TO 31 DECEMBER 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 period 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Going concern |
The company meets its day to day working capital requirements through cash generated from operations and shareholder borrowings. |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
Additions |
At 31 December 2024 |
AMORTISATION |
Charge for period |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
VALLEY RAIL LTD (REGISTERED NUMBER: 14993250) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 10 JULY 2023 TO 31 DECEMBER 2024 |
5. | TANGIBLE FIXED ASSETS |
Rolling |
Plant and | railway | Computer |
machinery | stock | equipment | Totals |
£ | £ | £ | £ |
COST |
Additions |
At 31 December 2024 |
DEPRECIATION |
Charge for period |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Within one year |
Between one and five years |
In more than five years |
VALLEY RAIL LTD (REGISTERED NUMBER: 14993250) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 10 JULY 2023 TO 31 DECEMBER 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary A | £1.00 | 10 |
Ordinary B | £1.00 | 90 |
100 |
The following shares were allotted and fully paid for cash at par during the period: |
10 Ordinary A shares of £1.00 each |
90 Ordinary B shares of £1.00 each |
11. | RELATED PARTY DISCLOSURES |
During the period the directors made an interest free loan to the company. The balance as at 31 December 2024 was £241,812. |