Company registration number 01363230 (England and Wales)
Valdor Industrial Developments Limited
Unaudited financial statements
For the year ended 31 August 2024
Valdor Industrial Developments Limited
Contents
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 10
Valdor Industrial Developments Limited
Statement of financial position
As at 31 August 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
119,976
129,325
Current assets
Debtors
6
3,201,155
3,410,865
Cash at bank and in hand
72,339
204,780
3,273,494
3,615,645
Creditors: amounts falling due within one year
7
(1,329,062)
(1,652,221)
Net current assets
1,944,432
1,963,424
Total assets less current liabilities
2,064,408
2,092,749
Creditors: amounts falling due after more than one year
8
(784,435)
(860,256)
Provisions for liabilities
Deferred tax liability
10
167,840
158,561
(167,840)
(158,561)
Net assets
1,112,133
1,073,932
Capital and reserves
Called up share capital
11
2,000
2,000
Profit and loss reserves
12
1,110,133
1,071,932
Total equity
1,112,133
1,073,932
Valdor Industrial Developments Limited
Statement of financial position (continued)
As at 31 August 2024
31 August 2024
- 2 -

For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime, within part 15 of the Companies Act 2006.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 May 2025 and are signed on its behalf by:
Mr M A Whiting
Director
Company registration number 01363230 (England and Wales)
Valdor Industrial Developments Limited
Statement of changes in equity
For the year ended 31 August 2024
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 September 2022
2,000
1,032,061
1,034,061
Year ended 31 August 2023:
Profit and total comprehensive income
-
39,871
39,871
Balance at 31 August 2023
2,000
1,071,932
1,073,932
Year ended 31 August 2024:
Profit and total comprehensive income
-
38,201
38,201
Balance at 31 August 2024
2,000
1,110,133
1,112,133
Valdor Industrial Developments Limited
Notes to the financial statements
For the year ended 31 August 2024
- 4 -
1
Accounting policies
Company information

Valdor Industrial Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lancaster House, 78 Blackburn Street, Radcliffe, Manchester, United Kingdom, M26 2JW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

The total turnover of the company for the year has been derived from its principal activity wholly undertaken in the UK. Turnover represents finance charges less refunds before deducting depreciation of leased equipment. Net income is appointed on the approximation to the actuarial basis over the period of each finance lease agreement, net of Value Added Tax.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
5% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

If there is an indication that there has been significant change in depreciation rate, the useful life or residual of the tangible assets, the depreciation is revised prospectively to reflect the new estimates. Depreciation of leased equipment is charged on an actuarial basis being the difference between rental income and leasing income attributable to the year.

Valdor Industrial Developments Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

 

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Valdor Industrial Developments Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 6 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Valdor Industrial Developments Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
- 7 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

Allowance for doubtful debts

 

The company makes allowance for doubtful debts based on an assessment of the recoverability of trade debtors. Allowances are applied to trade debtors where events or changes in circumstances indicate that the carrying amounts may not be recoverable.

3
Employees

The average number of employees during the year was:

2024
2023
Number
Number
Directors
2
2
4
Directors' remuneration

No remuneration was paid to the directors.

5
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 September 2023 and 31 August 2024
186,977
Depreciation and impairment
At 1 September 2023
57,652
Depreciation charged in the year
9,349
At 31 August 2024
67,001
Carrying amount
At 31 August 2024
119,976
At 31 August 2023
129,325
Valdor Industrial Developments Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
- 8 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Finance leases receivable
1,193,241
1,296,604
Other debtors
-
0
111,361
Prepayments and accrued income
4,004
3,644
1,197,245
1,411,609
2024
2023
Amounts falling due after more than one year:
£
£
Finance leases receivable
2,003,910
1,999,256
Total debtors
3,201,155
3,410,865
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
769,855
819,196
Taxation and social security
17,792
-
0
Other creditors
533,611
827,020
Accruals and deferred income
7,804
6,005
1,329,062
1,652,221
8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Other borrowings
9
301,365
291,078
Trade creditors
483,070
569,178
784,435
860,256
Valdor Industrial Developments Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
- 9 -
9
Loans and overdrafts
2024
2023
£
£
Other loans
301,365
291,078
Payable after one year
301,365
291,078

Trade creditors amounting to £1,252,925 (2023:£1,388,374) are secured by charges on specific finance agreements.

10
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
167,840
158,561
2024
Movements in the year:
£
Liability at 1 September 2023
158,561
Charge to profit or loss
9,279
Liability at 31 August 2024
167,840

Deferred tax is based on a corporation tax rate of 19% (2023: 19%).

11
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2,000
2,000
2,000
2,000
12
Profit and loss reserves

The profit and loss account reserve records retained earnings and accumulated losses.

Valdor Industrial Developments Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
- 10 -
13
Related party transactions

The directors of Valdor Industrial Developments Limited have control, joint control or significant influence over other companies. At the year end, balances of £487,011 (2023:£802,659) are due to those companies. During the year purchases amounting to £100,600 (2023:£86,600) were made from those companies.

14
Ultimate controlling party

Valdor Holdings Limited (incorporated in England and Wales) is regarded by the directors as being the company's ultimate parent company.

There was no ultimate controlling party in the year under review.

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