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REGISTERED NUMBER: 04764899 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

VALUFIN LIMITED

VALUFIN LIMITED (REGISTERED NUMBER: 04764899)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


VALUFIN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: MR D A Kane
Ms S L Constancon





REGISTERED OFFICE: Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ





REGISTERED NUMBER: 04764899 (England and Wales)





ACCOUNTANTS: Fusion Accountancy Limited
Marlborough House
298 Regents Park Road
London
N3 2SZ

VALUFIN LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
VALUFIN LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.

You have acknowledged on the balance sheet as at year ended 31 May 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






Fusion Accountancy Limited
Marlborough House
298 Regents Park Road
London
N3 2SZ


30 October 2024

VALUFIN LIMITED (REGISTERED NUMBER: 04764899)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 355

CURRENT ASSETS
Debtors 5 340,961 310,794
Cash at bank 12 12
340,973 310,806
CREDITORS
Amounts falling due within one year 6 119,037 73,345
NET CURRENT ASSETS 221,936 237,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

221,936

237,816

CREDITORS
Amounts falling due after more than
one year

7

1,189,992

1,101,663
NET LIABILITIES (968,056 ) (863,847 )

VALUFIN LIMITED (REGISTERED NUMBER: 04764899)

BALANCE SHEET - continued
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 (968,057 ) (863,848 )
SHAREHOLDERS' FUNDS (968,056 ) (863,847 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





Ms S L Constancon - Director


VALUFIN LIMITED (REGISTERED NUMBER: 04764899)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Valufin Limited 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.

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Plant & Machinery 25% on cost
Fixtures & Fittings 33.33% on cost
Computer Equipment 33.33% on cost

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

VALUFIN LIMITED (REGISTERED NUMBER: 04764899)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern disclosure
The directors have formed a judgement at the time of approving the Annual Financial Statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the directors have adopted the going concern basis in preparing the accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Office and Computer
Equipment fittings equipment Totals
£    £    £    £   
COST
At 1 June 2023
and 31 May 2024 89,031 10,403 32,726 132,160
DEPRECIATION
At 1 June 2023 89,031 10,403 32,371 131,805
Charge for year - - 355 355
At 31 May 2024 89,031 10,403 32,726 132,160
NET BOOK VALUE
At 31 May 2024 - - - -
At 31 May 2023 - - 355 355

VALUFIN LIMITED (REGISTERED NUMBER: 04764899)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.5.24 31.5.23
£    £   
Trade debtors 844 16,094
Amounts owed by group undertakings 340,117 290,602
VAT - 4,098
340,961 310,794

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 26,905 20,364
Trade creditors 267 1,768
Social security and other taxes 2,873 1,438
VAT 5,931 -
Other creditors 11,894 27,678
Bounce back loan - due < 1 Yr 6,530 6,530
RLS Short-term Portion of Loan 14,167 14,167
Funding Circle - s/term - 2 Yr 48,930 -
Accrued expenses 1,540 1,400
119,037 73,345

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.5.24 31.5.23
£    £   
RLS Loan 35,416 49,583
Bounce back loan - due 1-2 Yr 6,530 6,530
Bounce back loan - due 2-5 Yr 19,854 19,854
Bouce back loan - due >5 Yr 6,277 11,380
Funding Circle RLS - 2 Yr loan 56,070 -
Directors' loan accounts 1,065,845 1,014,316
1,189,992 1,101,663

VALUFIN LIMITED (REGISTERED NUMBER: 04764899)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continue

The bank loan is part of the BBL Scheme that was launched on 27 April 2020. The scheme is 100% government backed. The interest rate is 2.5% per year and the term of the loan is 10 years, and early repayment is possible without additional charges.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 Ordinary 1 1 1

9. RESERVES
Retained
earnings
£   

At 1 June 2023 (863,848 )
Deficit for the year (104,209 )
At 31 May 2024 (968,057 )

10. RELATED PARTY DISCLOSURES

At the balance sheet date, included within debtors due within one year, are amounts owed to the company by related parties:
Genius Boards Limited: £183,023 (2023: £172,420)
Genius Methods Limited: £157,094 (2023: £118,182).

At the balance sheet date, included within creditors due within one year, is an amounts owed to a related party by the company:
Constancon Currencies Limited: £11,369 (2023: £27,129)

Included under the non-current other creditors is an amount owed to the director of £1,065,845 (2023: £1,014,316).

11. TAXATION

The company has carried forward losses of £948,108 (2023: £844,254) which it can use against
future taxable profits.