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Valemint Limited

Financial Statements for the Year Ended 31 July 2024






Valemint Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: M C Davies



REGISTERED OFFICE: Sundeala
Cardiff Road
Taffs Well
CF15 7PR



REGISTERED NUMBER: 02434961 (England and Wales)



ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA



BANKERS: Barclays Bank
91 Taff Street
Pontypridd
CF37 4SN



SOLICITORS: Loosemores
Alliance House
18-19 High Street
Cardiff
CF10 1PT

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Valemint Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Valemint Limited for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the director of Valemint Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Valemint Limited and state those matters that we have agreed to state to the director of Valemint Limited in this report in accordance with icaew/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Valemint Limited and its director for our work or for this report.

It is your duty to ensure that Valemint Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Valemint Limited. You consider that Valemint Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Valemint Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


19 June 2025

Valemint Limited (Registered number: 02434961)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 75,776 70,911
Investment property 4 1,555,000 1,555,000
1,630,776 1,625,911

CURRENT ASSETS
Debtors 5 5,795 12,803
Cash at bank 257,746 196,482
263,541 209,285
CREDITORS
Amounts falling due within one year 6 213,206 457,705
NET CURRENT ASSETS/(LIABILITIES) 50,335 (248,420 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,681,111

1,377,491

CREDITORS
Amounts falling due after more than
one year

7

350,569

58,751
NET ASSETS 1,330,542 1,318,740

CAPITAL AND RESERVES
Called up share capital 80 80
Revaluation reserve 291,261 291,261
Capital redemption reserve 20 20
Retained earnings 1,039,181 1,027,379
SHAREHOLDERS' FUNDS 1,330,542 1,318,740

Valemint Limited (Registered number: 02434961)

Balance Sheet - continued
31 July 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 19 June 2025 and were signed by:





M C Davies - Director


Valemint Limited (Registered number: 02434961)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of goods and services supplied directly to the public and on a wholesale basis to landlords.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 5 and 15 years straight line
Motor vehicles - 25% straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred 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
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Revalued assets
In respect of the properties the revaluation provisions of FRS 102 are being followed. The last revaluation of the investment properties was undertaken by the directors in 2022 and will continue to be updated in accordance with FRS 102. The freehold properties were revalued in October 2016 by Morgan & Davies.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Valemint Limited (Registered number: 02434961)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


3. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 August 2023 224,983 11,490 236,473
Additions 29,515 - 29,515
At 31 July 2024 254,498 11,490 265,988
DEPRECIATION
At 1 August 2023 155,746 9,816 165,562
Charge for year 22,976 1,674 24,650
At 31 July 2024 178,722 11,490 190,212
NET BOOK VALUE
At 31 July 2024 75,776 - 75,776
At 31 July 2023 69,237 1,674 70,911

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 August 2023
and 31 July 2024 1,555,000
NET BOOK VALUE
At 31 July 2024 1,555,000
At 31 July 2023 1,555,000

Cost or valuation at 31 July 2024 is represented by:
£   
Valuation in 2008 599,274
Valuation in 2011 (205,000 )
Cost 1,160,726
1,555,000

Valemint Limited (Registered number: 02434961)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,795 12,803

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdraft 45,166 19,264
Hire purchase contracts 1,501 1,998
Trade creditors 54,583 49,777
Taxes & social security costs 14,690 25,046
Other creditors & accruals 97,266 361,620
213,206 457,705

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 100,569 57,251
Hire purchase contracts - 1,500
Other creditors 250,000 -
350,569 58,751

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 97,411 48,182
Hire Purchase 1,500 1,500
98,911 49,682