Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false2023-05-01No description of principal activity00truetruefalse 11492521 2023-04-30 11492521 2023-05-01 2024-04-30 11492521 2022-02-01 2023-01-31 11492521 2024-04-30 11492521 2023-01-31 11492521 c:Director3 2023-05-01 2024-04-30 11492521 d:CurrentFinancialInstruments 2024-04-30 11492521 d:CurrentFinancialInstruments 2023-01-31 11492521 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 11492521 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 11492521 d:ShareCapital 2024-04-30 11492521 d:ShareCapital 2023-01-31 11492521 d:RetainedEarningsAccumulatedLosses 2024-04-30 11492521 d:RetainedEarningsAccumulatedLosses 2023-01-31 11492521 c:FRS102 2023-05-01 2024-04-30 11492521 c:Audited 2023-05-01 2024-04-30 11492521 c:FullAccounts 2023-05-01 2024-04-30 11492521 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11492521 c:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11492521 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure
Company registration number: 11492521







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024


VALOREM BESPOKE LIMITED






































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VALOREM BESPOKE LIMITED
REGISTERED NUMBER:11492521



STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
862,616
763,980

Debtors: amounts falling due within one year
 4 
31,503
101,426

Cash at bank and in hand
  
294
32

  
894,413
865,438

Creditors: amounts falling due within one year
 5 
(968,947)
(722,007)

Net current (liabilities)/assets
  
 
 
(74,534)
 
 
143,431

Total assets less current liabilities
  
(74,534)
143,431

  

Net (liabilities)/assets
  
(74,534)
143,431


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(74,535)
143,430

  
(74,534)
143,431


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 income and retained earnings 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 17 April 2025.




D B Fisher
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 


VALOREM BESPOKE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Valorem Bespoke Limited is a private company limited by shares, incorporated in England & Wales under the Companies Act, registration number 11492521.
The address of the registered office is 4th Floor, 95 Gresham Street, London, EC2V 7AB.
The address of the principal place of business is Unit 1, Quadrant Court, Crossways Business Park, Greenhithe,Kent, DA9 9AY.
The accounting period is 15 months as the year end has been changed from 31 January 2024 to 30 April 2024.

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 a going concern basis on the assumption that the company will continue to trade in the forseeable future. The company directors having made appropriate enquiries consider that adequate resources exist for the company to continue in operational existence for the forseeable future. The company has received confirmation from one of its fellow subsidiary entities of continued support to meet its liabilities as they fall due and has received similar confirmation from its ultimate parent company. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 


VALOREM BESPOKE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

  
2.4

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.

 
2.5

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.

 
2.6

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 reporting date in the countries where the Company operates and generates income.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).


4.


Debtors

2024
2023
£
£


Trade debtors
-
7,040

Amounts owed by group undertakings
19,307
67,785

Other debtors
1,188
26,601

Prepayments and accrued income
11,008
-

31,503
101,426


Page 3

 


VALOREM BESPOKE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
92,255
239,406

Amounts owed to group undertakings
849,634
424,521

Corporation tax
-
27,985

Other taxation and social security
10,358
17,845

Accruals and deferred income
16,700
12,250

968,947
722,007



6.


Related party transactions

At the date of approval of these accounts, the current directors are unable to confirm whether any additional related party transactions occurred during the reporting period that may require disclosure involving the former director, David Crisp, either directly or indirectly through any person or entity connected to David Crisp who meet the definition of a related party under Section 33 of FRS 102.


7.


Controlling party

The parent undertaking is Valorem Holdings Limited, a company registered in England and Wales. The registered office of Valorem Holdings Limited is 4th Floor, 95 Gresham Street, London, EC2V 7AB. The smallest and largest consolidation to which the Company is included is of Valorem Holdings Limited, these can be found on Companies House.


8.


Auditor's information

The auditor's report on the financial statements for the year ended 30 April 2024 was qualified.

The qualification in the audit report was as follows:

The corresponding figures were unaudited, and thus we were unable to satisfy ourselves concerning the inventory quantities held at 31 January 2023 which are included in the balance sheet at £763,980. Consequently we were unable to determine whether any adjustment to this amount at 31 January 2023 was necessary or whether there was any consequential effect on the cost of sales for the year ended 30 April 2024.
Additionally, arising from the matters disclosed in Note 6, we were unable to obtain sufficient appropriate audit evidence about whether related party relationships and transactions have been appropriately identified, accounted for and disclosed in the financial statements in accordance with Section 33 of FRS 102.

The audit report was signed on 17 April 2025 by Andrew Wooding FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
Page 4