Company registration number 01983251 (England and Wales)
Valdor Holdings Limited
Unaudited financial statements
For the year ended 31 August 2024
Valdor Holdings Limited
Contents
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 8
Valdor Holdings Limited
Statement of financial position
As at 31 August 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,900
4,869
Investments
5
442,920
442,920
445,820
447,789
Current assets
Debtors
8
763,475
743,840
Cash at bank and in hand
25,327
32,965
788,802
776,805
Creditors: amounts falling due within one year
9
(13,558)
(13,464)
Net current assets
775,244
763,341
Net assets
1,221,064
1,211,130
Capital and reserves
Called up share capital
10
4,000
4,000
Profit and loss reserves
1,217,064
1,207,130
Total equity
1,221,064
1,211,130
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 01983251 (England and Wales)
Valdor Holdings Limited
Statement of changes in equity
For the year ended 31 August 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 September 2022
4,000
1,198,929
1,202,929
Year ended 31 August 2023:
Profit and total comprehensive income
-
8,201
8,201
Balance at 31 August 2023
4,000
1,207,130
1,211,130
Year ended 31 August 2024:
Profit and total comprehensive income
-
9,934
9,934
Balance at 31 August 2024
4,000
1,217,064
1,221,064
Valdor Holdings Limited
Notes to the financial statements
For the year ended 31 August 2024
- 3 -
1
Accounting policies
Company information
Valdor Holdings 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.
The financial statements contain information about Valdor Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
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
Turnover is measured at the fair value of consideration received or receivable goods supplies or services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on dispatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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
15% on cost
Motor vehicles
25% 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.
Valdor Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.6
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.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Valdor Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 5 -
1.8
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.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.9
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.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Valdor Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
10
12
3
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
19,920
19,470
4
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 September 2023 and 31 August 2024
34,057
22,750
56,807
Depreciation and impairment
At 1 September 2023
31,133
20,805
51,938
Depreciation charged in the year
511
1,458
1,969
At 31 August 2024
31,644
22,263
53,907
Carrying amount
At 31 August 2024
2,413
487
2,900
At 31 August 2023
2,924
1,945
4,869
5
Fixed asset investments
2024
2023
Notes
£
£
Investments in subsidiaries
6
39,691
39,691
Investments in associates
7
393,968
393,968
Loans
9,261
9,261
442,920
442,920
6
Subsidiaries
Details of the company's subsidiaries at 31 August 2024 are as follows:
Valdor Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
6
Subsidiaries
(Continued)
- 7 -
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Valdor Industrial Developments Limited
Lancaster House, M26 2JW
Trading
Ordinary
100.00
Valdor Commercial Leasing Limited
Lancaster House, M26 2JW
Trading
Ordinary
100.00
Camar Industrial Credits Limited
Lancaster House, M26 2JW
Dormant
Ordinary
100.00
Christalex Investments Limited
Lancaster House, M26 2JW
Dormant
Ordinary
100.00
7
Associates
Details of the company's associates at 31 August 2024 are as follows:
Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Associated Credits Limited
Lancaster House, M26 2JW
Trading
Ordinary
49.80
Wrenwood Group Finance Limited
Lancaster House, M26 2JW
Dormant
Ordinary
4.80
Commercial Asset Finance Limited
Lancaster House, M26 2JW
Dormant
Ordinary
50.00
The principal activities of the trading companies are the leasing of capital equipment, instalment financing of capital goods and the provision of short term finance.
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by undertakings in which the company has a participating interest
704,180
690,171
Other debtors
50,366
45,972
Prepayments and accrued income
8,929
7,697
763,475
743,840
9
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
2,000
2,000
Taxation and social security
9,540
9,646
Accruals and deferred income
2,018
1,818
13,558
13,464
Valdor Holdings Limited
Notes to the financial statements (continued)
For the year ended 31 August 2024
- 8 -
10
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
4,000
4,000
4,000
4,000
11
Related party transactions
Transactions with related parties
The directors of Valdor Holdings Limited have control, joint control or significant influence over other companies. At the year end, balances of £754,545 (2023:£736,044) are due from those companies, and balances of £2,000 (2023:£2,000) are due to those companies. During the year, management charges of £479,602 (2023:£612,600) were received from those companies and purchases amounting to £240,650 (2023:£365,650) were made to those companies.
12
Ultimate controlling party
There was no ultimate controlling party in the year under review.
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