Vale Property Company (Midland And Regional) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Vale Property Company (Midland And Regional) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10530820 . The registered office is Vale House Unit 9 Warren Way, Crown Farm Industrial Park, Mansfield, NG19 0FL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight line basis over the lease

term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

Interest income

Interest income is recognised in profit or loss when receivable.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold

2% straight line

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Vale Property Company (Midland And Regional) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date.

Gains and losses on remeasurement are recognised in profit or loss for the period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

4. Tangible Assets

	Land & Property
	Leasehold
	£
Cost
As at 1 January 2024	543,704

As at 31 December 2024	543,704

Depreciation
As at 1 January 2024	65,298
Provided during the period	10,874

As at 31 December 2024	76,172

Net Book Value
As at 31 December 2024	467,532

As at 1 January 2024	478,406

	Land & Property
	Leasehold
	£
At cost	543,704

	543,704

The leasehold investment property is written off over its estimated useful life.

5. Investment Property

	2024
	£
Fair Value
As at 1 January 2024 and 31 December 2024	1,145,335

	2024	2023
	£	£
Cost	1,145,335	1,145,335

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Vale Property Company (Midland And Regional) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Investments

	Listed	Unlisted	Total
	£	£	£
Cost
As at 1 January 2024	340,000	50,000	390,000

As at 31 December 2024	340,000	50,000	390,000

Provision
As at 1 January 2024	288,033	50,000	338,033
Added in period	9,675	-	9,675

As at 31 December 2024	297,708	50,000	347,708

Net Book Value
As at 31 December 2024	42,292	-	42,292

As at 1 January 2024	51,967	-	51,967

The directors have assessed the values of the investments based on current market values and have made a provision against the original cost.

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	52,926	120,595
Prepayments and accrued income	2,818	1,362
Other debtors	14,957	5,000
Directors' loan accounts	-	330,986

	70,701	457,943
Due after more than one year
Other debtors	192,932	120,688
Deferred tax current asset	13,560	42,455

	206,492	163,143

	277,193	621,086

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	477	995
Bank loans and overdrafts	61,546	57,410
Corporation tax	-	19,425
Other taxes and social security	2,826	410
VAT	19,947	13,054
Net wages	-	1,545
Accruals and deferred income	3,168	8,469
Amounts owed to related parties	1,123,900	1,118,091

	1,211,864	1,219,399

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Vale Property Company (Midland And Regional) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	557,498	621,793

10. Secured Creditors

Of the creditors the following amounts are secured.

	2024		2023
	£		£
Bank loans and overdrafts	619,044		679,204

11. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	120	120

12. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Brian Hackett	330,986	-	330,986	-	-

13. Related Party Transactions

Vale Window Company Limited

Vale Window Company Limited is a related company connected by a director.

During the year the Company leased to Vale Window Company Limited leasehold premisses from where it trades. The annual market value rental charged is £233,333 (2023- £200,000). Under this agreement the amount due to the Company at the year end is £60,000 (2023-£120,000) and is included within trade debtors due within one year.

Vale Holdings Limited

Vale Holdings Limited is a related company connected by a director.

The Company at the year end owes £992 (2023-£273) to Vale Holdings Limited. This amount is included within creditors due within one year as amounts due to related parties. The loan is repayable on demand.

Vale Window Company Limited

Vale Window Company Liimited is a related company connected by a director.

As at 31 December 2024, included within creditors due within one year as amounts due to related parties are loans totalling £1,122,907 (2023 -£1,117,774) owed to Vale Window Company Limited. This total amount loaned is interest free and repayable on demand.

Richard Hackett

Mr Hackett is a shareholder and employee of the company

Mr Hackett was owed £43 by the Company as at 1 January 2024, An amount of £10,000 has been advanced during the year (2023-Nil). At the year end £9,957 was owed by Mr Hackett, (2023 - £43 was owed to Mr Hackett) and is included within debtors (2023- creditors) due within one year as amounts due from (2023- to) related parties.

K & H Property Company Limited

K & H Property Company is a related company connected by a director.

During the year, under the 2022 formal loan agreement, K & H Property Company Limited borrowed a further £65,000 (2023 £55,000) in addition to the £115,000 borrowed to 31 December 2023 (2022 - £60,000). Interest accrues on a non-cumulative basis on the loan amount at a rate of 5% calculated on a daily basis. The interest charged in this year amounts to £7,243 (2023- £4,293). The capital and interest is payable once the Company applies for repayment of the loan or after five years from inception which ever is the earliest. The amount due to the Company at the year end is £192,932 (2023-£120,688) and is included within other debtors due after one year.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		467,532		478,406
Investment Properties	5		1,145,335		1,145,335
Investments	6		42,292		51,967

			1,655,159		1,675,708
CURRENT ASSETS
Debtors	7	277,193		621,086
Cash at bank and in hand		450,771		14,330

		727,964		635,416
Creditors: Amounts Falling Due Within One Year	8	(1,211,864 )		(1,219,399 )

NET CURRENT ASSETS (LIABILITIES)			(483,900 )		(583,983 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,171,259		1,091,725

Creditors: Amounts Falling Due After More Than One Year	9		(557,498 )		(621,793 )

NET ASSETS			613,761		469,932

CAPITAL AND RESERVES
Called up share capital	11		120		120
Profit and Loss Account			613,641		469,812

SHAREHOLDERS' FUNDS			613,761		469,932