IRIS Accounts Production v23.3.0.418 09933778 director 1.2.22 31.1.23 31.1.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh099337782022-01-31099337782023-01-31099337782022-02-012023-01-31099337782021-01-31099337782021-02-012022-01-31099337782022-01-3109933778ns10:Originalns15:EnglandWales2022-02-012023-01-3109933778ns14:PoundSterlingns10:Original2022-02-012023-01-3109933778ns10:Originalns10:Director12022-02-012023-01-3109933778ns10:Original2022-02-012023-01-3109933778ns10:Original2023-01-3109933778ns10:Originalns10:PrivateLimitedCompanyLtd2022-02-012023-01-3109933778ns10:Originalns10:SmallEntities2022-02-012023-01-3109933778ns10:Originalns10:AuditExempt-NoAccountantsReport2022-02-012023-01-3109933778ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3109933778ns10:SmallCompaniesRegimeForAccountsns10:Original2022-02-012023-01-3109933778ns10:Originalns10:FullAccounts2022-02-012023-01-3109933778ns10:Original12022-02-012023-01-3109933778ns10:Originalns10:OrdinaryShareClass12022-02-012023-01-3109933778ns10:Originalns10:RegisteredOffice2022-02-012023-01-3109933778ns10:Original2022-01-3109933778ns10:Originalns5:CurrentFinancialInstruments2023-01-3109933778ns10:Originalns5:CurrentFinancialInstruments2022-01-3109933778ns5:ShareCapitalns10:Original2023-01-3109933778ns5:ShareCapitalns10:Original2022-01-3109933778ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-01-3109933778ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-3109933778ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-02-012023-01-3109933778ns10:Originalns5:ComputerSoftware2022-02-012023-01-3109933778ns10:Original2021-02-012022-01-3109933778ns10:Originalns5:ComputerSoftware2022-01-3109933778ns10:Originalns5:ComputerSoftware2023-01-3109933778ns10:Originalns5:ComputerSoftware2022-01-3109933778ns10:Originalns5:PlantMachinery2022-01-3109933778ns10:Originalns5:ComputerEquipment2022-01-3109933778ns10:Original2022-01-3109933778ns10:Originalns5:PlantMachinery2022-02-012023-01-3109933778ns10:Originalns5:ComputerEquipment2022-02-012023-01-3109933778ns10:Originalns5:PlantMachinery2023-01-3109933778ns10:Originalns5:ComputerEquipment2023-01-3109933778ns10:Originalns5:PlantMachinery2022-01-3109933778ns10:Originalns5:ComputerEquipment2022-01-3109933778ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3109933778ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-01-3109933778ns10:Originalns5:DeferredTaxation2022-02-012023-01-3109933778ns10:Originalns5:DeferredTaxation2023-01-3109933778ns10:Originalns10:OrdinaryShareClass12023-01-31
REGISTERED NUMBER: 09933778 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

VALORWARE LTD

VALORWARE LTD (REGISTERED NUMBER: 09933778)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VALORWARE LTD

COMPANY INFORMATION
for the year ended 31 January 2023







DIRECTOR: T E Au





REGISTERED OFFICE: 1 Spa Lane
Sheffield
United Kingdom
S13 7PG





REGISTERED NUMBER: 09933778 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

VALORWARE LTD (REGISTERED NUMBER: 09933778)

BALANCE SHEET
31 January 2023

31.1.23 31.1.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 4,040 6,335
Tangible assets 5 20,578 7,240
24,618 13,575

CURRENT ASSETS
Stocks - 413
Debtors 6 100 10
Cash at bank 83,883 97,566
83,983 97,989
CREDITORS
Amounts falling due within one year 7 (10,656 ) (14,811 )
NET CURRENT ASSETS 73,327 83,178
TOTAL ASSETS LESS CURRENT
LIABILITIES

97,945

96,753

PROVISIONS FOR LIABILITIES 8 (3,910 ) -
NET ASSETS 94,035 96,753

CAPITAL AND RESERVES
Called up share capital 9 100 10
Retained earnings 93,935 96,743
SHAREHOLDERS' FUNDS 94,035 96,753

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

VALORWARE LTD (REGISTERED NUMBER: 09933778)

BALANCE SHEET - continued
31 January 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2023 and were signed by:





T E Au - Director


VALORWARE LTD (REGISTERED NUMBER: 09933778)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2023

1. STATUTORY INFORMATION

Valorware Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts, and is recognised as follows:

Revenue from the sale of mobile and console games are recognised at the point of despatch.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at cost, less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment33% on cost
Plant & machinery33% on cost

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 balance sheet date.


VALORWARE LTD (REGISTERED NUMBER: 09933778)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Impairment
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Going concern
The director has a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 February 2022
and 31 January 2023 13,491
AMORTISATION
At 1 February 2022 7,156
Amortisation for year 2,295
At 31 January 2023 9,451
NET BOOK VALUE
At 31 January 2023 4,040
At 31 January 2022 6,335

VALORWARE LTD (REGISTERED NUMBER: 09933778)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2022 25,988 - 25,988
Additions 3,191 13,437 16,628
At 31 January 2023 29,179 13,437 42,616
DEPRECIATION
At 1 February 2022 18,748 - 18,748
Charge for year 1,252 2,038 3,290
At 31 January 2023 20,000 2,038 22,038
NET BOOK VALUE
At 31 January 2023 9,179 11,399 20,578
At 31 January 2022 7,240 - 7,240

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Other debtors 100 10

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Taxation and social security 9,515 14,811
Other creditors 1,141 -
10,656 14,811

8. PROVISIONS FOR LIABILITIES
31.1.23 31.1.22
£    £   
Deferred tax 3,910 -

Deferred
tax
£   
Charge to Income Statement during year 3,910
Balance at 31 January 2023 3,910

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Ordinary £1 100 10