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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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VALLEYLINK LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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FOR |
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VALLEYLINK LIMITED |
VALLEYLINK LIMITED (REGISTERED NUMBER: 03473690) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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VALLEYLINK LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
34a Watling Street |
Radlett |
Hertfordshire |
WD7 7NN |
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BANKERS: |
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P O Box 104 |
St. Albans |
Herts |
AL1 3AN |
VALLEYLINK LIMITED (REGISTERED NUMBER: 03473690) |
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BALANCE SHEET |
30 NOVEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Fair value reserve | 11 |
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Retained earnings | 11 | ( |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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VALLEYLINK LIMITED (REGISTERED NUMBER: 03473690) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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1. | STATUTORY INFORMATION |
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Valleylink Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents rents receivable. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Going concern |
These accounts are prepared on a going concern basis given the continued support of the company's bank and |
directors. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 December 2016 |
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Revaluations | 75,000 |
At 30 November 2017 |
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NET BOOK VALUE |
At 30 November 2017 |
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At 30 November 2016 |
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VALLEYLINK LIMITED (REGISTERED NUMBER: 03473690) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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4. | INVESTMENT PROPERTY - continued |
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Fair value at 30 November 2017 is represented by: |
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£ |
Valuation in 2017 | 75,000 |
Valuation in 2016 | 95,000 |
Valuation in 2009 | 41,019 |
Valuation in 2007 | 45,000 |
Valuation in 2003 | 120,000 |
Valuation in 2001 | 98,551 |
Cost | 115,430 |
590,000 |
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If freehold land buildings had not been revalued they would have been included at the following historical cost: |
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2017 | 2016 |
£ | £ |
Cost | 115,430 | 115,430 |
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The investment properties were valued on an open market basis on 30 November 2017 by professional valuers MA & Co Ltd |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Other creditors |
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Directors' current accounts | 1,558 | 603 |
Accruals and deferred income |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more than 5 years |
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Director's long term loan |
account | 20,000 | 10,000 |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more than 5 years | 208,231 | 208,231 |
VALLEYLINK LIMITED (REGISTERED NUMBER: 03473690) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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The bank loans are secured against the underlying properties. |
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9. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax | 91,939 | - |
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Deferred |
tax |
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Provided during year |
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Prior year adjustment | 77,689 |
Balance at 30 November 2017 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 1 | 1 |
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11. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 December 2016 | ( |
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277,423 |
Deficit for the year | ( |
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Surplus on revaluation of land |
and buildings |
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Deferred Tax - prior year |
adjustment | - | (77,689 | ) | (77,689 | ) |
At 30 November 2017 | ( |
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258,839 |
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12. | PRIOR YEAR ADJUSTMENT |
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The Prior Year Adjustment relates to correction of the deferred tax account for provisions omitted in previous |
years. |
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13. | ULTIMATE CONTROLLING PARTY |
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Mr M B Allsuch is the ultimate controlling party by virtue of his 100% shareholding. |