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COMPANY REGISTRATION NUMBER: 05837183
Valley's Support Services Ltd
Filleted Unaudited Financial Statements
31 August 2024
Valley's Support Services Ltd
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
25,300
30,700
Tangible assets
6
259,990
130,802
---------
---------
285,290
161,502
Current assets
Debtors
7
54,573
63,794
Cash at bank and in hand
28,377
105,589
--------
---------
82,950
169,383
Creditors: amounts falling due within one year
8
( 117,909)
( 94,680)
---------
---------
Net current (liabilities)/assets
( 34,959)
74,703
---------
---------
Total assets less current liabilities
250,331
236,205
Creditors: amounts falling due after more than one year
9
( 6,323)
( 14,572)
---------
---------
Net assets
244,008
221,633
---------
---------
Valley's Support Services Ltd
Statement of Financial Position (continued)
31 August 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
243,008
220,633
---------
---------
Shareholders funds
244,008
221,633
---------
---------
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.
For the year ending 31 August 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 October 2024 , and are signed on behalf of the board by:
Mr M Garland Smith
Director
Company registration number: 05837183
Valley's Support Services Ltd
Notes to the Financial Statements
Year ended 31 August 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 Ty Celyn, Newbridge, Newport, Wales, NP11 4GN, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the current tax recognised in the reporting period. Tax is recognised in profit or loss. 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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
Leasehold Improvements
-
Over 10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Fixtures and Fittings
-
20% straight line
Motor Vehicles
-
20% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 30 (2023: 29 ).
5. Intangible assets
Goodwill
Leasehold Improvements
Total
£
£
£
Cost
At 1 September 2023 and 31 August 2024
50,000
29,000
79,000
--------
--------
--------
Amortisation
At 1 September 2023
42,500
5,800
48,300
Charge for the year
2,500
2,900
5,400
--------
--------
--------
At 31 August 2024
45,000
8,700
53,700
--------
--------
--------
Carrying amount
At 31 August 2024
5,000
20,300
25,300
--------
--------
--------
At 31 August 2023
7,500
23,200
30,700
--------
--------
--------
6. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2023
125,223
1,063
10,560
16,700
153,546
Additions
130,877
795
131,672
---------
-------
--------
--------
---------
At 31 August 2024
256,100
1,063
11,355
16,700
285,218
---------
-------
--------
--------
---------
Depreciation
At 1 September 2023
1,063
9,556
12,125
22,744
Charge for the year
459
2,025
2,484
---------
-------
--------
--------
---------
At 31 August 2024
1,063
10,015
14,150
25,228
---------
-------
--------
--------
---------
Carrying amount
At 31 August 2024
256,100
1,340
2,550
259,990
---------
-------
--------
--------
---------
At 31 August 2023
125,223
1,004
4,575
130,802
---------
-------
--------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
45,962
39,376
Other debtors
8,611
24,418
--------
--------
54,573
63,794
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,248
8,045
Trade creditors
4,001
Corporation tax
22,785
39,204
Social security and other taxes
13,161
7,352
Other creditors
73,715
36,078
---------
--------
117,909
94,680
---------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
6,323
14,572
-------
--------