VALA Property Limited 13708067 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is Property Rental Digita Accounts Production Advanced 6.30.9574.0 true 13708067 2024-01-01 2024-12-31 13708067 2024-12-31 13708067 core:CurrentFinancialInstruments 2024-12-31 13708067 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 13708067 core:FurnitureFittings 2024-12-31 13708067 core:OfficeEquipment 2024-12-31 13708067 bus:SmallEntities 2024-01-01 2024-12-31 13708067 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 13708067 bus:FilletedAccounts 2024-01-01 2024-12-31 13708067 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13708067 bus:RegisteredOffice 2024-01-01 2024-12-31 13708067 bus:Director1 2024-01-01 2024-12-31 13708067 bus:Director2 2024-01-01 2024-12-31 13708067 bus:Director4 2024-01-01 2024-12-31 13708067 bus:Director5 2024-01-01 2024-12-31 13708067 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13708067 core:ComputerEquipment 2024-01-01 2024-12-31 13708067 core:FurnitureFittings 2024-01-01 2024-12-31 13708067 core:OfficeEquipment 2024-01-01 2024-12-31 13708067 countries:UnitedKingdom 2024-01-01 2024-12-31 13708067 2023-12-31 13708067 core:FurnitureFittings 2023-12-31 13708067 core:OfficeEquipment 2023-12-31 13708067 2022-11-01 2023-12-31 13708067 2023-12-31 13708067 core:CurrentFinancialInstruments 2023-12-31 13708067 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13708067 core:FurnitureFittings 2023-12-31 13708067 core:OfficeEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 13708067

VALA Property Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

VALA Property Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

VALA Property Limited

Company Information

Directors

Mr A R Voisin

Mrs M Voisin

Mr P F Voisin

Mrs A T Voisin

Registered office

21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

Accountants

Rotherham Taylor Limited
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

VALA Property Limited

(Registration number: 13708067)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,677

13,733

Investment property

5

850,000

850,000

 

860,677

863,733

Current assets

 

Debtors

6

924

1,251

Cash at bank and in hand

 

31,268

28,597

 

32,192

29,848

Creditors: Amounts falling due within one year

7

(804,060)

(840,805)

Net current liabilities

 

(771,868)

(810,957)

Total assets less current liabilities

 

88,809

52,776

Provisions for liabilities

(3,862)

(3,900)

Net assets

 

84,947

48,876

Capital and reserves

 

Called up share capital

100

100

Retained earnings

84,847

48,776

Shareholders' funds

 

84,947

48,876

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

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

VALA Property Limited

(Registration number: 13708067)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 24 April 2025 and signed on its behalf by:
 

.........................................
Mrs M Voisin
Director

.........................................
Mr P F Voisin
Director

 

VALA Property Limited

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

1

General information

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

The address of its registered office is:
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

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 from the rental of property 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 te 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.

 

VALA Property Limited

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

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.

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

Fixtures & fittings

15% reducing balance

Computer equipment

33% straight line

Investment property

Investment property is measured at cost on initial purchase. Subsequently, the investment property is measured at fair value at the reporting date with any changes recognised in profit and loss.

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.

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.

 

VALA Property Limited

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

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 5).

 

VALA Property Limited

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

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

19,055

592

19,647

At 31 December 2024

19,055

592

19,647

Depreciation

At 1 January 2024

5,717

197

5,914

Charge for the year

2,859

197

3,056

At 31 December 2024

8,576

394

8,970

Carrying amount

At 31 December 2024

10,479

198

10,677

At 31 December 2023

13,338

395

13,733

5

Investment properties

2024
£

At 1 January

850,000

At 31 December 2024

850,000

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

6

Debtors

2024
£

2023
£

Trade debtors

607

1,098

Prepayments

317

153

924

1,251

 

VALA Property Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Director's current accounts

8

785,353

829,086

Trade creditors

 

-

1,828

Taxation and social security

 

9,830

3,354

Accruals and deferred income

 

8,877

6,537

 

804,060

840,805

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Director's current accounts

785,353

829,086

The Directors' current accounts are non-interest bearing and have no formal repayment terms.