Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-2832022-03-01false.3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10358661 2022-03-01 2023-02-28 10358661 2021-03-01 2022-02-28 10358661 2023-02-28 10358661 2022-02-28 10358661 c:Director1 2022-03-01 2023-02-28 10358661 d:OfficeEquipment 2022-03-01 2023-02-28 10358661 d:OfficeEquipment 2023-02-28 10358661 d:OfficeEquipment 2022-02-28 10358661 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 10358661 d:CurrentFinancialInstruments 2023-02-28 10358661 d:CurrentFinancialInstruments 2022-02-28 10358661 d:Non-currentFinancialInstruments 2023-02-28 10358661 d:Non-currentFinancialInstruments 2022-02-28 10358661 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 10358661 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 10358661 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 10358661 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 10358661 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 10358661 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 10358661 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 10358661 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 10358661 d:ShareCapital 2023-02-28 10358661 d:ShareCapital 2022-02-28 10358661 d:RetainedEarningsAccumulatedLosses 2023-02-28 10358661 d:RetainedEarningsAccumulatedLosses 2022-02-28 10358661 c:OrdinaryShareClass1 2022-03-01 2023-02-28 10358661 c:OrdinaryShareClass1 2023-02-28 10358661 c:FRS102 2022-03-01 2023-02-28 10358661 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 10358661 c:FullAccounts 2022-03-01 2023-02-28 10358661 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 10358661 d:WithinOneYear 2023-02-28 10358661 d:WithinOneYear 2022-02-28 10358661 6 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10358661













VAALON CAPITAL LIMITED
UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
VAALON CAPITAL LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
VAALON CAPITAL LIMITED
REGISTERED NUMBER:10358661

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,311
1,016

Investments
 5 
1,005,000
1,000,000

  
1,006,311
1,001,016

Current assets
  

Debtors: amounts falling due within one year
 6 
409,079
54,391

Bank and cash balances
  
514
80,268

  
409,593
134,659

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(859,525)
(591,103)

Net current liabilities
  
 
 
(449,932)
 
 
(456,444)

Total assets less current liabilities
  
556,379
544,572

Creditors: amounts falling due after more than one year
 8 
(22,500)
(32,500)

  

Net assets
  
533,879
512,072


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
533,779
511,972

  
533,879
512,072


Page 1

 
VAALON CAPITAL LIMITED
REGISTERED NUMBER:10358661
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 October 2023.




A H Teeger
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
VAALON CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Vaalon Capital Limited is a private limited liability company registered in England and Wales. Its registered office address and principal place of business is at Ariel House, 1st Floor, 74a Charlotte Street, London, W1T 4QJ.
The principal activity of the company during the year was that of the provision of administration and related advisory and consultancy services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the reporting date the company had net current liabilities. The director has given assurance that funds will be made available to the company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have therefore been prepared under the going concern basis.

 
2.3

Turnover

Turnover is measured at the fair value of amounts receivable in respect of services provided in the period, net of trade discounts and excluding value added tax. The company recognises revenue from services when all contractual obligations have been met.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:

Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

Page 3

 
VAALON CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Unlisted investments

Investments in unlisted investments, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

Basic financial instruments

The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, other loans, cash and cash equivalents.
Trade and other debtors are recognised initially at the transaction price less attributable transaction costs. Trade creditors and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors.
Interest bearing borrowings, such as other loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits.

 
2.7

Government grants

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.8

Foreign currency translation

The company's functional and presentational currency is £ sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Financial Position.

Page 4

 
VAALON CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in the Statement of Comprehensive Income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that: 
1) The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
2) Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 5

 
VAALON CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Office equipment

£



Cost


At 1 March 2022
6,396


Additions
1,043



At 28 February 2023

7,439



Depreciation


At 1 March 2022
5,380


Charge for the year on owned assets
748



At 28 February 2023

6,128



Net book value



At 28 February 2023
1,311



At 28 February 2022
1,016


5.


Fixed asset investments





Unlisted investments

£



Cost


At 1 March 2022
1,000,000


Additions
5,000



At 28 February 2023
1,005,000




Page 6

 
VAALON CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
-
20,000

Other debtors
335,999
6,288

Prepayments and accrued income
73,080
28,103

409,079
54,391



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
1,217
-

Bank loans
10,000
10,000

Other loans
461,768
131,118

Trade creditors
5,039
10,111

Corporation tax
-
57,730

Other taxation and social security
12,016
19,984

Other creditors
362,853
336,111

Accruals and deferred income
6,632
26,049

859,525
591,103


The other loan is secured upon the contractual right to receive administration fees from one of the company's client's.
Included in creditors there is an amount of £669,121 (2022 - £334,527) owed to the director.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
22,500
32,500


Page 7

 
VAALON CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Other loans
461,768
131,118

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
12,500
22,500


494,268
173,618



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



11.


Commitments under operating leases

At 28 February 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
10,000
10,000

 
Page 8