Registration number:
Valuyoo Limited
for the Year Ended 30 April 2019
Valuyoo Limited
Contents
Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
Valuyoo Limited
(Registration number: 10777240)
Abridged Balance Sheet as at 30 April 2019
Note |
2019 |
2018 |
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Fixed assets |
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Intangible assets |
- |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Ms H Jackson
Director
Page 1 |
Valuyoo Limited
Notes to the Abridged Financial Statements for the Year Ended 30 April 2019
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Statement of compliance
These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. Of the company's liabilities at 30 April 2019, £21,209 is owed to Believe Corporate Relations Limited, a company in which Ms H Jackson, the director, is also a director and shareholder. There are no terms for repayment of this loan and no interest is being charged. As director of both companies, Ms Jackson has confirmed that Believe Corporate Relations Limited will not demand repayment of this loan for at least the next 12 months from the date of approval of these accounts, to the extent that any such repayment would jeopardise the future of Valuyoo Limited. Both Believe Corporate Relations Limited and Ms Jackson will provide further support if required.
Ms Jackson is still actively seeking further investment into the company in the current year in order to progress the development.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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Valuyoo Limited
Notes to the Abridged Financial Statements for the Year Ended 30 April 2019
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Trademarks |
10% straight line |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 3 |
Valuyoo Limited
Notes to the Abridged Financial Statements for the Year Ended 30 April 2019
Intangible assets |
Total |
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Cost or valuation |
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At 1 May 2018 |
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At 30 April 2019 |
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Amortisation |
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At 1 May 2018 |
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Impairment |
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At 30 April 2019 |
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Carrying amount |
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At 30 April 2019 |
- |
At 30 April 2018 |
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Related party transactions |
Transactions with directors |
2019 |
At 1 May 2018 |
At 30 April 2019 |
Ms H Jackson |
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Advances to directors - repayable on demand and interest charged at commercial rate |
1 |
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2018 |
Advances to directors |
At 30 April 2018 |
Ms H Jackson |
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Advances to directors - repayable on demand and interest charged at commercial rate |
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