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Registration number: SC189619

Loire Valley Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Loire Valley Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Loire Valley Limited

(Registration number: SC189619)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

15,551

18,885

Investment property

6

550,000

450,000

Other financial assets

7

25,000

-

 

590,551

468,885

Current assets

 

Debtors

8

81

2,646

Cash at bank and in hand

 

10,066

65,117

 

10,147

67,763

Creditors: Amounts falling due within one year

9

(2,614)

(27,112)

Net current assets

 

7,533

40,651

Total assets less current liabilities

 

598,084

509,536

Provisions for liabilities

(26,806)

(10,271)

Net assets

 

571,278

499,265

Capital and reserves

 

Called up share capital

100

100

Other reserves

114,276

30,811

Retained earnings

456,902

468,354

Shareholders' funds

 

571,278

499,265

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 4 April 2025
 

.........................................
Philippe Bachelet
Director

 

Loire Valley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
SK Tax & Accounts Ltd
1A Craigs Avenue
Edinburgh
EH12 8HP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover 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. Turnover 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Loire Valley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% straight line

Motor vehicles

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Leasehold premium

Amortised over 15 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Loire Valley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Loire Valley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 November 2023

50,000

50,000

At 31 October 2024

50,000

50,000

Amortisation

At 1 November 2023

31,115

31,115

Amortisation charge

3,334

3,334

At 31 October 2024

34,449

34,449

Carrying amount

At 31 October 2024

15,551

15,551

At 31 October 2023

18,885

18,885

5

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

22,559

8,567

31,126

At 31 October 2024

22,559

8,567

31,126

Depreciation

At 1 November 2023

22,559

8,567

31,126

At 31 October 2024

22,559

8,567

31,126

Carrying amount

At 31 October 2024

-

-

-

 

Loire Valley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Investment properties

2024
£

At 1 November

450,000

Fair value adjustments

100,000

At 31 October

550,000

There has been no valuation of investment property by an independent valuer.

7

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Additions

75,000

75,000

Fair value adjustments

(50,000)

(50,000)

At 31 October 2024

25,000

25,000

Cost or valuation

Carrying amount

At 31 October 2024

25,000

25,000

8

Debtors

Current

2024
£

2023
£

Other debtors

81

2,646

 

81

2,646

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

2,614

27,112