| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 January 2025 |
| for |
| Varley Investments Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 30 January 2025 |
| for |
| Varley Investments Limited |
| Varley Investments Limited (Registered number: 13881426) |
| Contents of the Financial Statements |
| for the Year Ended 30 January 2025 |
| Page |
| Company Information | 1 |
| Chartered Accountants' Report | 2 |
| Statement of Financial Position | 3 |
| Notes to the Financial Statements | 4 |
| Varley Investments Limited |
| Company Information |
| for the Year Ended 30 January 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered accountants |
| 2nd Floor |
| 33 Park Place |
| Leeds |
| LS1 2RY |
| BANKERS: |
| 2 The Headrow |
| Leeds |
| West Yorkshire |
| LS1 6PN |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Varley Investments Limited |
| The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 Varley Investments Limited for the year ended 30 January 2025 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Varley Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Varley Investments Limited and state those matters that we have agreed to state to the Board of Directors of Varley Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Varley Investments Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Varley Investments 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 loss of Varley Investments Limited. You consider that Varley Investments 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 Varley Investments 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. |
| Chartered accountants |
| 2nd Floor |
| 33 Park Place |
| Leeds |
| LS1 2RY |
| Varley Investments Limited (Registered number: 13881426) |
| Statement of Financial Position |
| 30 January 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 5 |
| CURRENT ASSETS |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve |
| Retained earnings | ( |
) | ( |
) |
| ( |
) |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Varley Investments Limited (Registered number: 13881426) |
| Notes to the Financial Statements |
| for the Year Ended 30 January 2025 |
| 1. | STATUTORY INFORMATION |
| Varley Investments Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. |
| Going concern |
| The financial statements have been prepared on the going concern basis. The company continues to rely on the support of its directors and shareholders. They have all maintained such support since the year end and the directors expect this to continue. Accordingly, the directors believe that it is appropriate to prepare the accounts on the going concern basis. |
| Investment property |
| Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. |
| An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. |
| Impairment of fixed assets |
| A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
| For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. |
| 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 statement of financial position date. |
| Varley Investments Limited (Registered number: 13881426) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 January 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2024 - NIL). |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 31 January 2024 |
| and 30 January 2025 |
| NET BOOK VALUE |
| At 30 January 2025 |
| At 30 January 2024 |
| The investment property was valued by the directors as at 30 January 2025 on an open market basis. |
| Fair value at 30 January 2025 is represented by: |
| £ |
| Valuation in 2025 | 17,937 |
| Cost | 322,063 |
| 340,000 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other creditors |
| 7. | RELATED PARTY DISCLOSURES |
| Amounts owed to directors |
| 2025 | 2024 |
| £ | £ |
| Amount due to related party at the balance sheet date | 333,288 | 329,698 |
| Amounts owed to directors are repayable on demand and are not subject to interest. |
| 8. | ULTIMATE CONTROLLING PARTY |
| The company is under the control of the directors of the company. |