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Filleted

Registration number: 15010616

Valley View Hideaway Ltd

Annual Report and Unaudited Financial Statements

for the Period from 18 July 2023 to 31 July 2024

 

Valley View Hideaway Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Valley View Hideaway Ltd

Company Information

Director

Mr D Davies

Registered office

Bach Y Rhew
Ffostrasol
Llandysul
Ceredigion
SA44 5SB

 

Valley View Hideaway Ltd

(Registration number: 15010616)
Balance Sheet as at 31 July 2024

Note

2024
£

Fixed assets

 

Tangible assets

5

42,278

Current assets

 

Stocks

6

200

Debtors

7

3,129

Cash at bank and in hand

 

3,642

 

6,971

Creditors: Amounts falling due within one year

8

(31,050)

Net current liabilities

 

(24,079)

Total assets less current liabilities

 

18,199

Creditors: Amounts falling due after more than one year

8

(5,683)

Net assets

 

12,516

Capital and reserves

 

Called up share capital

100

Profit and loss account

12,416

Total equity

 

12,516

For the financial period ending 31 July 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 period 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 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 and the option not to file the Profit and Loss Account has been taken.

 

Valley View Hideaway Ltd

(Registration number: 15010616)
Balance Sheet as at 31 July 2024

Approved and authorised by the director on 17 June 2025
 

.........................................
Mr D Davies
Director

   
     
 

Valley View Hideaway Ltd

Notes to the Financial Statements for the Period from 18 July 2023 to 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bach Y Rhew
Ffostrasol
Llandysul
Ceredigion
SA44 5SB

These financial statements were authorised for issue by the director on 17 June 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

 

Valley View Hideaway Ltd

Notes to the Financial Statements for the Period from 18 July 2023 to 31 July 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 & machinery

25% Reducing balance

Fixtures & fittings

25% Reducing balance

Leasehold property

Straight line over 20 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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Valley View Hideaway Ltd

Notes to the Financial Statements for the Period from 18 July 2023 to 31 July 2024

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

Depreciation expense

6,595

 

Valley View Hideaway Ltd

Notes to the Financial Statements for the Period from 18 July 2023 to 31 July 2024

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

Additions

29,274

10,732

8,867

48,873

At 31 July 2024

29,274

10,732

8,867

48,873

Depreciation

Charge for the period

1,695

2,683

2,217

6,595

At 31 July 2024

1,695

2,683

2,217

6,595

Carrying amount

At 31 July 2024

27,579

8,049

6,650

42,278

Included within the net book value of land and buildings above is £27,579 in respect of short leasehold land and buildings.
 

6

Stocks

2024
£

Other inventories

200

7

Debtors

2024
£

Trade debtors

3,129

3,129

 

Valley View Hideaway Ltd

Notes to the Financial Statements for the Period from 18 July 2023 to 31 July 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Directors' loan accounts

11

30,163

Corporation tax liability

 

214

Other creditors

 

673

 

31,050

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

10

5,683

9

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary shares of £1 each

100

100

     

10

Loans and borrowings

2024
£

Non-current loans and borrowings

HP and finance lease liabilities

5,683

 

Valley View Hideaway Ltd

Notes to the Financial Statements for the Period from 18 July 2023 to 31 July 2024

11

Related party transactions

Transactions with directors

2024

At 18 July 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Mr D Davies

Interest free loan repayable on demand

-

11,614

(41,777)

(30,163)