REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 30 December 2021 |
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for |
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Valley View Promotions Limited |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 30 December 2021 |
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for |
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Valley View Promotions Limited |
Valley View Promotions Limited (Registered number: 07034635) |
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Contents of the Financial Statements |
for the Year Ended 30 December 2021 |
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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 | 4 |
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Valley View Promotions Limited |
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Company Information |
for the Year Ended 30 December 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Yoden House |
30 Yoden Way |
Peterlee |
Co. Durham |
SR8 1AL |
Valley View Promotions Limited (Registered number: 07034635) |
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Balance Sheet |
30 December 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash in hand |
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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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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
Valley View Promotions Limited (Registered number: 07034635) |
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Balance Sheet - continued |
30 December 2021 |
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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 director and authorised for issue on
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Valley View Promotions Limited (Registered number: 07034635) |
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Notes to the Financial Statements |
for the Year Ended 30 December 2021 |
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1. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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The accounts have been prepared under the going concern basis. |
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TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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INTANGIBLE ASSETS |
Patents and licences have been fully amortised. |
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TANGIBLE FIXED ASSETS |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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STOCKS |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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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HIRE PURCHASE AND LEASING COMMITMENTS |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Valley View Promotions Limited (Registered number: 07034635) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 December 2021 |
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3. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 31 December 2020 |
and 30 December 2021 |
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AMORTISATION |
At 31 December 2020 |
and 30 December 2021 |
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NET BOOK VALUE |
At 30 December 2021 |
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At 30 December 2020 |
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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and | Computer |
property | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 31 December 2020 |
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Additions |
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At 30 December 2021 |
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DEPRECIATION |
At 31 December 2020 |
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Charge for year |
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At 30 December 2021 |
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NET BOOK VALUE |
At 30 December 2021 |
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At 30 December 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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Directors' current accounts | 610,362 | 496,547 |
VAT |
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Prepayments |
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Accrued grants | - | 9,213 |
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Valley View Promotions Limited (Registered number: 07034635) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 December 2021 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other tax |
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Pension Liability | 92 | - |
Accrued expenses |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
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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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more than 5 years | 18,981 | - |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |
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9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the year ended 30 December 2021 and the period ended 30 December 2020: |
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2021 | 2020 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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