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REGISTERED NUMBER: 15408516 (England and Wales)









VALLEE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

12 JANUARY 2024 TO 31 DECEMBER 2024






VALLEE PROPERTIES LIMITED (REGISTERED NUMBER: 15408516)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 12 JANUARY 2024 TO 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VALLEE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 12 JANUARY 2024 TO 31 DECEMBER 2024







DIRECTORS: S V Short
D J Hewett





REGISTERED OFFICE: Churchgate House
3 Church Road
Whitchurch
Cardiff
Glamorgan
CF14 2DX





REGISTERED NUMBER: 15408516 (England and Wales)






VALLEE PROPERTIES LIMITED (REGISTERED NUMBER: 15408516)

BALANCE SHEET
31 DECEMBER 2024

Notes £    £   
FIXED ASSETS
Investment property 4 850,000

CURRENT ASSETS
Debtors 5 53,134
Cash at bank and in hand 30,055
83,189
CREDITORS
Amounts falling due within one year 6 934,180
NET CURRENT LIABILITIES (850,991 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(991

)

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (1,091 )
(991 )

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

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

The directors acknowledge their 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.

VALLEE PROPERTIES LIMITED (REGISTERED NUMBER: 15408516)

BALANCE SHEET - continued
31 DECEMBER 2024


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 28 July 2025 and were signed on its behalf by:





D J Hewett - Director


VALLEE PROPERTIES LIMITED (REGISTERED NUMBER: 15408516)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 12 JANUARY 2024 TO 31 DECEMBER 2024

1. STATUTORY INFORMATION

Vallee Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Investment properties - The fair value of investment properties involved the use of professional valuation techniques, which are reviewed annually by management. Where factors that could impact the fair value are identified, appropriate adjustments are made through the income statement.

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

Rental Income:

Turnover is recognised at the fair value of rent received or receivable in the normal course of business, net of value added tax. Rental income is recognised in the period which it relates.

VALLEE PROPERTIES LIMITED (REGISTERED NUMBER: 15408516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 12 JANUARY 2024 TO 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment properties are held to generate rental income and capital appreciation. Investment properties are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Investment properties are subsequently remeasured at fair value. An assessment of investment property fair value is performed annually. Any changes in fair value are recognised in the income statement.

Deferred tax is recognised on any fair value changes at the rate that would apply to the sale of the
investment property, unless the property has a limited useful life and is held as part of a business model to consume all of the economic benefits associated with it.

Taxation
Taxation for the period 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

VALLEE PROPERTIES LIMITED (REGISTERED NUMBER: 15408516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 12 JANUARY 2024 TO 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

Where there are a number of similar obligations, the likelihood that an outflow of economic benefits will be required in settlement is determined by considering the class of obligation as a whole. A provision is recognised even if the likelihood of an outflow with respect of any one item in the same class of obligations may be small.

Provisions are not made for future operating losses.

Provisions are measures at the present value of the cost expected to be required to settle the obligation using a pre-tax rate that reflects current market assessment of the time value of money and the risks specific to the obligation. The increase in the provision due to the passing of time is recognised as a cost in the income statement.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

VALLEE PROPERTIES LIMITED (REGISTERED NUMBER: 15408516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 12 JANUARY 2024 TO 31 DECEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 925,000
Impairments (75,000 )
At 31 December 2024 850,000
NET BOOK VALUE
At 31 December 2024 850,000

The company's investment properties were valued at £850,000 as of 31 December 2024 by Knight Frank, independent chartered surveyors. The valuation was conducted in accordance with the Royal Institution of Chartered Surveyors (RICS) Valuation.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 53,134

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 600
Taxation and social security 10,798
Other creditors 922,782
934,180

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the period, the company entered into a transaction with Short Bros (Developments) Limited, a company under common control through common directors. On 28 March 2024, the company acquired an investment property and associated assets from Short Bros (Developments) Limited as part of a capital demerger transaction. The transfer was accounted for at fair value. As a result of this transaction, a creditor balance of £902,567 arose. An amount of £904,754 was outstanding as at 31 December 2024. The balance is unsecured, repayable on demand, and carries interest at 5% per annum.

VALLEE PROPERTIES LIMITED (REGISTERED NUMBER: 15408516)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 12 JANUARY 2024 TO 31 DECEMBER 2024

8. CHANGE OF ACCOUNTING REFERENCE DATE

During the period, the company changed its accounting reference date from 31 January to 31 December. As a result, the current financial period covers of 11 months and 20 days from 12 January 2024 to 31 December 2024.

9. PROVISION FOR ASSETS

The deferred tax asset recognised in the period arises principally due to the temporary difference between the carrying value of the investment property measured at fair value and its tax base, which reflects the historic acquisition cost in the transferring related party. The deferred tax has been calculated at the expected rate of corporation tax on disposal.


2024
£
Deferred tax asset on investment property valuations 52,890
Deferred tax asset provision 52,890

10. COMPARATIVE FIGURES

As these are the first financial statements prepared by the company since incorporation on 12 January 2024, no comparative figures have been presented.

11. ULTIMATE CONTROLLING PARTY

The controlling party for Vallee Properties Limited is Aosta Holdings Limited.

The ultimate controlling party for Aosta Holdings Limited is S V Short.