Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3132023-01-01falseThe principal activity of the company was that of a holding and investment company.3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08006774 2023-01-01 2023-12-31 08006774 2022-04-01 2022-12-31 08006774 2023-12-31 08006774 2022-12-31 08006774 1 2023-01-01 2023-12-31 08006774 d:Director2 2023-01-01 2023-12-31 08006774 c:Buildings c:LongLeaseholdAssets 2023-01-01 2023-12-31 08006774 c:Buildings c:LongLeaseholdAssets 2023-12-31 08006774 c:Buildings c:LongLeaseholdAssets 2022-12-31 08006774 c:FurnitureFittings 2023-01-01 2023-12-31 08006774 c:FurnitureFittings 2023-12-31 08006774 c:FurnitureFittings 2022-12-31 08006774 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08006774 c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08006774 c:CurrentFinancialInstruments 2023-12-31 08006774 c:CurrentFinancialInstruments 2022-12-31 08006774 c:Non-currentFinancialInstruments 2023-12-31 08006774 c:Non-currentFinancialInstruments 2022-12-31 08006774 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 08006774 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 08006774 c:ShareCapital 2023-12-31 08006774 c:ShareCapital 2022-12-31 08006774 c:RetainedEarningsAccumulatedLosses 2023-12-31 08006774 c:RetainedEarningsAccumulatedLosses 2022-12-31 08006774 d:OrdinaryShareClass1 2023-01-01 2023-12-31 08006774 d:OrdinaryShareClass1 2023-12-31 08006774 d:OrdinaryShareClass1 2022-12-31 08006774 d:FRS102 2023-01-01 2023-12-31 08006774 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08006774 d:FullAccounts 2023-01-01 2023-12-31 08006774 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08006774 c:WithinOneYear 2023-12-31 08006774 c:WithinOneYear 2022-12-31 08006774 c:BetweenOneFiveYears 2023-12-31 08006774 c:BetweenOneFiveYears 2022-12-31 08006774 c:MoreThanFiveYears 2023-12-31 08006774 c:MoreThanFiveYears 2022-12-31 08006774 6 2023-01-01 2023-12-31 08006774 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08006774









VALEBOND CONSULTANTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
VALEBOND CONSULTANTS LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
VALEBOND CONSULTANTS LIMITED
REGISTERED NUMBER: 08006774

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
203,994
21,778

Investments
 5 
41,271,965
38,620,272

  
41,475,959
38,642,050

Current assets
  

Debtors: amounts falling due after more than one year
 6 
-
48,000

Debtors: amounts falling due within one year
 6 
3,330,176
1,755,441

Cash at bank and in hand
 7 
209,060
89,492

  
3,539,236
1,892,933

Creditors: amounts falling due within one year
 8 
(44,825,273)
(39,920,118)

Net current liabilities
  
 
 
(41,286,037)
 
 
(38,027,185)

Total assets less current liabilities
  
189,922
614,865

  

Net assets
  
189,922
614,865


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
189,921
614,864

  
189,922
614,865


Page 1

 
VALEBOND CONSULTANTS LIMITED
REGISTERED NUMBER: 08006774
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider 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 directors acknowledge their 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 profit and loss account 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 by: 




I Seddon
Director

Date: 30 October 2024

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

Page 2

 
VALEBOND CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Valebond Consultants Limited is a private company, limited by shares, incorporated in England and Wales with registration number of 08006774. The registered office is North Bailey House, 12 New Inn Hall Street, Oxford, England, OX1 2RP.

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

Exemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.
The company expects the continued support of the shareholder, who has confirmed will provide such financial support as is necessary for the company to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing of the financial statements of the company.

 
2.4

Revenue

Revenue is comprised of management fees, income received from investments, interest income and realised gains and losses arising on the sale of investments. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable.

 
2.5

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Page 3

 
VALEBOND CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Over the lease term
Fixtures, fittings and office equipment
-
25%
Straight line basis

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 profit or loss.

Depreciation commences when the asset is available to use.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted company shares, where the 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 Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historical cost less impairment.
Investments in listed company shares are remeasured to market value at each Balance Sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
VALEBOND CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

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


4.


Tangible fixed assets





Leasehold improvements
Fixtures, fittings and office equipment
Total

£
£
£



Cost 


At 1 January 2023
-
102,360
102,360


Additions
201,039
-
201,039



At 31 December 2023

201,039
102,360
303,399



Depreciation


At 1 January 2023
-
80,582
80,582


Charge for the year on owned assets
-
18,823
18,823



At 31 December 2023

-
99,405
99,405



Net book value



At 31 December 2023
201,039
2,955
203,994



At 31 December 2022
-
21,778
21,778

Page 5

 
VALEBOND CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Unlisted investments
Loans to subsidiaries
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
8,890,466
6,323
1,308,712
28,414,771
38,620,272


Additions
1
2,396,017
25
3,469,727
5,865,770


Disposals
(60)
-
-
-
(60)


Revaluations
-
(2,408,795)
-
-
(2,408,795)


Transfers intra group
-
-
-
(805,222)
(805,222)


Transfer between classes
-
1,308,678
(1,308,678)
-
-



At 31 December 2023
8,890,407
1,302,223
59
31,079,276
41,271,965




The cost of the listed investments as at 31 December 2023 was £4,377,970 (2022 - £673,275).
During the year the shares held in an unlisted investment floated on the New York Stock Exchange requiring a reclassification between asset classes.


6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
-
48,000


2023
2022
£
£

Due within one year

Other debtors
1,867,862
684,693

Prepayments and accrued income
1,462,314
1,070,748

3,330,176
1,755,441


Page 6

 
VALEBOND CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
209,060
89,492



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
44,342,801
39,778,213

Trade creditors
282,756
56,811

Corporation tax
116,149
39,958

Other taxation and social security
4,548
4,691

Other creditors
1,335
2,401

Accruals and deferred income
77,684
38,044

44,825,273
39,920,118



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1
1
1



10.


Commitments under operating leases

At 31 December 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
28,125
80,000

Later than 1 year and not later than 5 years
5,090,625
10,959

Later than 5 years
6,693,750
-

11,812,500
90,959

Page 7

 
VALEBOND CONSULTANTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Related party transactions

Included within other loans (Note 8) are loans of £42,781,119 (2022 - £38,531,093) due to Mr J Bamford, a director of the company, and £1,247,120 (2022 - £1,247,120) due to JCB Limited, a company under common control. These loans are interest free and repayable on demand.
Included within creditors is an amount of £314,562 
(2022 - £Nil) due to HydraB Power Limited, a company under common control. The balance is interest free and repayable on demand.    
Included within fixed asset investments is a loan of £5,437,565 
(2022 - £6,062,565) due from Bamford Property Ireland Limited, a subsidiary of the company. The interest rate is 4% per annum above Bank of England base rate, the full amount of the loan is unsecured and repayable on demand. The aggregate amount of interest of £1,428,153 (2022 - £944,274) is included in other debtors as accrued income (Note 6).
Included within fixed asset investments is a loan of £199,949 (
2022 - £249,949) due from Tempo Entertainment Limited, a subsidiary of the company. This loan is interest free and repayable on demand.
During the period Panacea Property Development Limited, a subsidiary of the company, was disposed. The loan of £130,222 and aggregate amount of interest of £99,643 due from the subsidiary was repaid in full. 
Included within other debtors (Note 6) is an amount of £875,000 
(2022 - £285,000) due from Safecypher Limited, a company under common control. This balance is interest free and repayable within one year.
The company has taken advantage of the exemption available not to disclose related party transactions entered into with wholly owned subsidiaries.


12.


Post balance sheet events

On 9 February 2024, the company purchased the majority of the ordinary shares of Atmos Comms Limited, a company under common control. As a result, Valebond Consultants Limited became the parent company following the transfer.

 
Page 8