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REGISTERED NUMBER: 09933778 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

VALORWARE LTD

VALORWARE LTD (REGISTERED NUMBER: 09933778)






Contents of the Financial Statements
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VALORWARE LTD

Company Information
for the year ended 31 January 2024







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 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 2,903 4,040
Tangible assets 5 13,840 20,578
16,743 24,618

CURRENT ASSETS
Debtors 6 7,733 100
Cash at bank 84,923 83,883
92,656 83,983
CREDITORS
Amounts falling due within one year 7 (12,385 ) (10,656 )
NET CURRENT ASSETS 80,271 73,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

97,014

97,945

PROVISIONS FOR LIABILITIES 8 (2,630 ) (3,910 )
NET ASSETS 94,384 94,035

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 94,284 93,935
SHAREHOLDERS' FUNDS 94,384 94,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 2024


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 21 August 2024 and were signed by:





T E Au - Director


VALORWARE LTD (REGISTERED NUMBER: 09933778)

Notes to the Financial Statements
for the year ended 31 January 2024

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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 2024

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 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and Computer
licences software Totals
£    £    £   
COST
At 1 February 2023 - 13,491 13,491
Additions 557 - 557
At 31 January 2024 557 13,491 14,048
AMORTISATION
At 1 February 2023 - 9,451 9,451
Amortisation for year 42 1,652 1,694
At 31 January 2024 42 11,103 11,145
NET BOOK VALUE
At 31 January 2024 515 2,388 2,903
At 31 January 2023 - 4,040 4,040

VALORWARE LTD (REGISTERED NUMBER: 09933778)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2023 29,179 13,437 42,616
Additions - 2,049 2,049
Disposals (457 ) (2,548 ) (3,005 )
At 31 January 2024 28,722 12,938 41,660
DEPRECIATION
At 1 February 2023 20,000 2,038 22,038
Charge for year 4,360 1,422 5,782
At 31 January 2024 24,360 3,460 27,820
NET BOOK VALUE
At 31 January 2024 4,362 9,478 13,840
At 31 January 2023 9,179 11,399 20,578

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 7,733 100

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 11,195 9,515
Other creditors 1,190 1,141
12,385 10,656

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,630 3,910

Deferred
tax
£   
Balance at 1 February 2023 3,910
Credit to Income Statement during year (1,280 )
Balance at 31 January 2024 2,630

VALORWARE LTD (REGISTERED NUMBER: 09933778)

Notes to the Financial Statements - continued
for the year ended 31 January 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100