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Registered number: 10358661













VAALON CAPITAL LIMITED
UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
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 29 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
732
1,311

Investments
 5 
-
1,005,000

  
732
1,006,311

Current assets
  

Debtors: amounts falling due within one year
 6 
445,367
409,079

Bank and cash balances
  
10,534
514

  
455,901
409,593

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(1,094,617)
(859,525)

Net current liabilities
  
 
 
(638,716)
 
 
(449,932)

Total assets less current liabilities
  
(637,984)
556,379

Creditors: amounts falling due after more than one year
 8 
(12,500)
(22,500)

  

Net (liabilities)/assets
  
(650,484)
533,879


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(650,584)
533,779

  
(650,484)
533,879


Page 1

 
VAALON CAPITAL LIMITED
REGISTERED NUMBER:10358661
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

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 28 November 2024.




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 29 FEBRUARY 2024

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 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 company made a loss for the year and at the reporting date the company had net current liabilities and net 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.

Page 3

 
VAALON CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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.

 
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

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 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

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 (2023 - 3).

Page 5

 
VAALON CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Office equipment

£



Cost


At 1 March 2023
7,439



At 29 February 2024

7,439



Depreciation


At 1 March 2023
6,128


Charge for the year on owned assets
579



At 29 February 2024

6,707



Net book value



At 29 February 2024
732



At 28 February 2023
1,311


5.


Fixed asset investments








Unlisted investments

£



Cost


At 1 March 2023
1,005,000


Disposals
(1,005,000)



At 29 February 2024
-




Page 6

 
VAALON CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

2024
2023
£
£


Other debtors
441,719
335,999

Prepayments and accrued income
3,648
73,080

445,367
409,079



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
37
1,217

Bank loans
9,999
10,000

Other loans
454,982
461,768

Trade creditors
8,857
5,039

Other taxation and social security
7,407
12,016

Other creditors
608,285
362,853

Accruals and deferred income
5,050
6,632

1,094,617
859,525


Included in other loans is £10,216 (2023 - £22,236) owed to Vaalon Capital Green Limited. This 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 £1,062,531 (2023 - £669,121) owed to the director.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,500
22,500


Page 7

 
VAALON CAPITAL LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,999
10,000

Other loans
454,982
461,768

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
2,500
12,500


477,481
494,268



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



11.


Commitments under operating leases

At 29 February 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
10,000
10,000

 
Page 8