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REGISTERED NUMBER: 12536308 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VALLIS SERVICES LIMITED

VALLIS SERVICES LIMITED (REGISTERED NUMBER: 12536308)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VALLIS SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: A M B Barr-Sim
S I Thomson





SECRETARY: S I Thomson





REGISTERED OFFICE: 2 Baywell House
Tuckers Close
Frome
Somerset
BA11 5LS





REGISTERED NUMBER: 12536308 (England and Wales)





AUDITORS: PG Owen Limited
Chartered Accountants
124 High Street
Midsomer Norton
Bath
Avon
BA3 2DA

VALLIS SERVICES LIMITED (REGISTERED NUMBER: 12536308)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes $    $    $   
FIXED ASSETS
Tangible assets 6 60,135 55,080

CURRENT ASSETS
Debtors 7 1,335,610 1,443,223
Cash at bank 440,942 179,624
1,776,552 1,622,847
CREDITORS
Amounts falling due within one year 8 795,720 673,934
NET CURRENT ASSETS 980,832 948,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,040,967

1,003,993

CAPITAL AND RESERVES
Called up share capital 118 118
Retained earnings 1,040,849 1,003,875
1,040,967 1,003,993

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by:




A M B Barr-Sim - Director



S I Thomson - Director


VALLIS SERVICES LIMITED (REGISTERED NUMBER: 12536308)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Vallis Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Summary of significant acconting 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost
Plant and machinery - split between 10% on cost and 50% on cost
Motor vehicles - 50% on cost

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Income Statement, 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.

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.

VALLIS SERVICES LIMITED (REGISTERED NUMBER: 12536308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. ACCOUNTING POLICIES - continued

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.

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

5. AUDITORS' REMUNERATION
2024 2023
$    $   
Fees payable to the company's auditors for the audit of the company's
financial statements

7,000

7,000
Total audit fees 7,000 7,000

VALLIS SERVICES LIMITED (REGISTERED NUMBER: 12536308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
$    $    $   
COST
At 1 January 2024 51,160 29,326 80,486
Additions 3,805 27,711 31,516
Disposals - (6,367 ) (6,367 )
At 31 December 2024 54,965 50,670 105,635
DEPRECIATION
At 1 January 2024 11,072 14,334 25,406
Charge for year 10,109 16,352 26,461
Eliminated on disposal - (6,367 ) (6,367 )
At 31 December 2024 21,181 24,319 45,500
NET BOOK VALUE
At 31 December 2024 33,784 26,351 60,135
At 31 December 2023 40,088 14,992 55,080

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
$    $   
Trade debtors 855,052 980,139
Other debtors 480,558 463,084
1,335,610 1,443,223

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
$    $   
Trade creditors 52,034 36,867
Amounts owed to group undertakings 282,639 42,553
Tax 539 -
Social security and other taxes 13,948 31,097
Other creditors 446,560 563,417
795,720 673,934

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robin N Browning BA(Hons) FCCA FCA FAIA BFP (Senior Statutory Auditor)
for and on behalf of PG Owen Limited

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Vallis Group Limited.

Services are provided to and received from Vallis Group Limited. These are shown within debtors and creditors and are separately identifiable within the notes under amounts owed by/to group undertakings.