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Registered number: 08794691









VALOREM INVESTMENT PARTNERS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
VALOREM INVESTMENT PARTNERS LIMITED
REGISTERED NUMBER: 08794691

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
104,063
137,970

Investments
 5 
50
6,265,362

  
104,113
6,403,332

Current assets
  

Debtors: amounts falling due within one year
 6 
653,226
2,727,463

Cash at bank and in hand
 7 
109,349
174,253

  
762,575
2,901,716

Creditors: amounts falling due within one year
 8 
(1,495,381)
(11,813,241)

Net current liabilities
  
 
 
(732,806)
 
 
(8,911,525)

Total assets less current liabilities
  
(628,693)
(2,508,193)

Creditors: amounts falling due after more than one year
 9 
(35,833)
(5,695,833)

  

Net liabilities
  
(664,526)
(8,204,026)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(664,626)
(8,204,126)

  
(664,526)
(8,204,026)


Page 1

 
VALOREM INVESTMENT PARTNERS LIMITED
REGISTERED NUMBER: 08794691
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 by: 




A C S Maxwell-Jones
Director

Date: 14 November 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
VALOREM INVESTMENT PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Valorem Investment Partners Limited is a private company limited by shares, incorporated in England & Wales (registered number: 08794691).
The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the Company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The company is dependent on the directors and shareholders for financial support, which the directors are confident will continue for a period of at least another 12 months.
The directors and shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders.

 
2.3

Revenue

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 as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
VALOREM INVESTMENT PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.10

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.

Page 4

 
VALOREM INVESTMENT PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

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:

Fixtures and fittings
-
25%
Office equipment
-
25%

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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, 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.

 
2.12

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.13

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.

 
2.14

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.

 
2.15

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.

Page 5

 
VALOREM INVESTMENT PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
210,463
9,897
220,360


Additions
-
11,500
11,500



At 31 March 2023

210,463
21,397
231,860



Depreciation


At 1 April 2022
77,903
4,489
82,392


Charge for the year on owned assets
42,653
2,752
45,405



At 31 March 2023

120,556
7,241
127,797



Net book value



At 31 March 2023
89,907
14,156
104,063



At 31 March 2022
132,561
5,408
137,969

Page 6

 
VALOREM INVESTMENT PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total

£
£
£



Cost or valuation


At 1 April 2022
6,265,313
50
6,265,363



At 31 March 2023

6,265,313
50
6,265,363



Impairment


Charge for the period
6,265,313
-
6,265,313



At 31 March 2023

6,265,313
-
6,265,313



Net book value



At 31 March 2023
-
50
50



At 31 March 2022
6,265,313
50
6,265,363

Page 7

 
VALOREM INVESTMENT PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Trade debtors
105,615
44,476

Other debtors
542,217
2,542,655

Prepayments and accrued income
5,394
140,332

653,226
2,727,463



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
109,349
174,253

109,349
174,253



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,000
5,000

Other loans
-
1,690,192

Trade creditors
47,152
48,069

Other taxation and social security
3,464
-

Other creditors
1,397,265
10,027,480

Accruals and deferred income
42,500
42,500

1,495,381
11,813,241



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
35,833
40,833

Other creditors
-
5,655,000

35,833
5,695,833


Page 8

 
VALOREM INVESTMENT PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,000
5,000

Other loans
-
1,690,192


5,000
1,695,192

Amounts falling due 1-2 years

Bank loans
5,000
5,000

Amounts falling due 2-5 years

Bank loans
15,000
15,000

Amounts falling due after more than 5 years

Bank loans
15,833
20,833

40,833
1,736,025


 
Page 9