Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-31 2025-05-13 2024-08-31 2025-05-13 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true 2023-09-01 false No description of principal activity 7 7 true false 10920870 2023-09-01 2024-08-31 10920870 2022-09-01 2023-08-31 10920870 2024-08-31 10920870 2023-08-31 10920870 c:Director2 2023-09-01 2024-08-31 10920870 d:PlantMachinery 2023-09-01 2024-08-31 10920870 d:PlantMachinery 2024-08-31 10920870 d:PlantMachinery 2023-08-31 10920870 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10920870 d:MotorVehicles 2023-09-01 2024-08-31 10920870 d:MotorVehicles 2024-08-31 10920870 d:MotorVehicles 2023-08-31 10920870 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10920870 d:FurnitureFittings 2023-09-01 2024-08-31 10920870 d:FurnitureFittings 2024-08-31 10920870 d:FurnitureFittings 2023-08-31 10920870 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10920870 d:OfficeEquipment 2023-09-01 2024-08-31 10920870 d:OfficeEquipment 2024-08-31 10920870 d:OfficeEquipment 2023-08-31 10920870 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10920870 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10920870 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-08-31 10920870 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-08-31 10920870 d:CurrentFinancialInstruments 2024-08-31 10920870 d:CurrentFinancialInstruments 2023-08-31 10920870 d:Non-currentFinancialInstruments 2024-08-31 10920870 d:Non-currentFinancialInstruments 2023-08-31 10920870 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 10920870 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10920870 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 10920870 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 10920870 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 10920870 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 10920870 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 10920870 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 10920870 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-08-31 10920870 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-08-31 10920870 d:UKTax 2023-09-01 2024-08-31 10920870 d:UKTax 2022-09-01 2023-08-31 10920870 d:ShareCapital 2024-08-31 10920870 d:ShareCapital 2023-08-31 10920870 d:RetainedEarningsAccumulatedLosses 2024-08-31 10920870 d:RetainedEarningsAccumulatedLosses 2023-08-31 10920870 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 10920870 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 10920870 c:FRS102 2023-09-01 2024-08-31 10920870 c:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10920870 c:FullAccounts 2023-09-01 2024-08-31 10920870 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10920870 d:MoreThanFiveYears 2024-08-31 10920870 d:MoreThanFiveYears 2023-08-31 10920870 2 2023-09-01 2024-08-31 10920870 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-09-01 2024-08-31 10920870 e:PoundSterling 2023-09-01 2024-08-31 10920870 d:CopyrightsPatentsTrademarksServiceOperatingRights d:PriorPeriodIncreaseDecrease 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 10920870 VALMORA LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 AUGUST 2024
VALMORA LTD CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF VALMORA LTD FOR THE YEAR ENDED 31 AUGUST 2024 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of VALMORA LTD for the year ended 31 August 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation. This report is made solely to the Board of directors of VALMORA LTD, as a body, in accordance with the terms of our engagement letter dated 5 March 2025. Our work has been undertaken solely to prepare for your approval the financial statements of VALMORA LTD and state those matters that we have agreed to state to the Board of directors of VALMORA LTD, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VALMORA LTD and its Board of directors, as a body, for our work or for this report. It is your duty to ensure that VALMORA LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of VALMORA LTD. You consider that VALMORA LTD is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or review of the financial statements of VALMORA LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. CWM Chartered Accountants 1a High Street Epsom Surrey KT19 8DA 13 May 2025 Page 1
VALMORA LTD REGISTERED NUMBER: 10920870 BALANCE SHEET AS AT 31 AUGUST 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets |  |  | 36,250 |  | 41,250
Tangible assets | 8 |  | 6,116 |  | 8,169
|  |  | 42,366 |  | 49,419
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 9 | 316,136 |  | 223,823 |
Cash at bank and in hand | 10 | 19,095 |  | 68,145 |
|  | 335,231 |  | 291,968 |
Creditors: amounts falling due within one year | 11 | (253,942) |  | (249,917) |
Net current assets |  |  | 81,289 |  | 42,051
Total assets less current liabilities |  |  | 123,655 |  | 91,470
Creditors: amounts falling due after more than one year | 12 |  | (49,180) |  | (69,577)
Provisions for liabilities |  |  |  |  |
Deferred tax | 14 | (1,529) |  | (1,751) |
|  |  | (1,529) |  | (1,751)
Net assets |  |  | 72,946 |  | 20,142
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2 |  | 2
Profit and loss account |  |  | 72,944 |  | 20,140
|  |  | 72,946 |  | 20,142
Page 2
VALMORA LTD REGISTERED NUMBER: 10920870 BALANCE SHEET (CONTINUED) AS AT 31 AUGUST 2024 The directors consider 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 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. 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 profit and loss account 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 13 May 2025.
D Evans
Director
The notes on pages 4 to 13 form part of these financial statements. Page 3
VALMORA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1.Accounting policies
| 1.1 | 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:
| 1.2 | 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: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. 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.
| 1.3 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 1.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 4
VALMORA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1.Accounting policies (continued)
| 1.5 | 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.
| 1.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 1.7 | 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.
| 1.8 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙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 ∙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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Page 5
VALMORA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1.Accounting policies (continued)
| 1.9 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 1.10 | 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. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as set out below. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% | reducing balance basis
|  |  |  | Motor vehicles | - | 25% | reducing balance basis
|  |  |  | Fixtures and fittings | - | 25% | straight line basis
|  |  |  | Office equipment | - | 25% | reducing balance basis
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.
| 1.11 | 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.
| 1.12 | 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.
| 1.13 | 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 6
VALMORA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 1.Accounting policies (continued)
| 1.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 1.15 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
2. | General information
Valmora Ltd is a private company, limited by shares, incorporated in England and Wales, registered number 10920870. The registered office is 1a High Street, Epsom, Surrey KT19 8DA.
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will therefore seldom equal the related actual results.
4. | Employees
| The average monthly number of employees, including directors, during the year was 7 (2023 - 7).
Page 7
VALMORA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
5. | Taxation
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 30,555 | 17,170
|  | 30,555 | 17,170
| Total current tax | 30,555 | 17,170
| Deferred tax |  |
| Origination and reversal of timing differences | (222) | 50
| Total deferred tax | (222) | 50
|  | 30,333 | 17,220
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 25%). The differences are explained below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 119,128 | 72,781
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%) | 29,782 | 18,195
| Effects of: |  |
| Expenses not deductible for tax purposes, other than goodwill amortisation and impairment | 2,068 | 1,627
| Capital allowances for year in excess of depreciation | 513 | 1,332
| Short-term timing difference leading to an increase (decrease) in taxation | (222) | 50
| Other differences leading to an increase (decrease) in the tax charge | (1,808) | (3,984)
| Total tax charge for the year | 30,333 | 17,220
| Factors that may affect future tax charges
There were no factors that may affect future tax charges. Page 8
VALMORA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
6. | Dividends
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Ordinary dividends paid | 35,992 | 47,883
|  | 35,992 | 47,883
7. | Intangible assets
|  | Cryptocurrency
|  | £
| Cost |
| At 1 September 2023 | 50,000
| At 31 August 2024 | 50,000
| Amortisation |
| Prior Year Adjustment | 8,750
| At 1 September 2023 (as restated) | 8,750
| Charge for the year on owned assets | 5,000
| At 31 August 2024 | 13,750
| Net book value |
| At 31 August 2024 | 36,250
| At 31 August 2023 (as restated) | 41,250
Page 9
VALMORA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
8. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 September 2023 | 3,000 | 3,334 | 5,337 | 10,013 | 21,684
| Additions | - | - | - | 130 | 130
| At 31 August 2024 | 3,000 | 3,334 | 5,337 | 10,143 | 21,814
| Depreciation |  |  |  |  |
| At 1 September 2023 | 2,052 | 2,490 | 4,070 | 4,904 | 13,516
| Charge for the year on owned assets | 238 | 211 | 423 | 1,310 | 2,182
| At 31 August 2024 | 2,290 | 2,701 | 4,493 | 6,214 | 15,698
| Net book value |  |  |  |  |
| At 31 August 2024 | 710 | 633 | 844 | 3,929 | 6,116
| At 31 August 2023 | 948 | 844 | 1,267 | 5,110 | 8,169
Page 10
VALMORA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
9. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 276,750 | 192,804
| Other debtors | 33,082 | 24,309
| Prepayments and accrued income | 6,304 | 6,710
|  | 316,136 | 223,823
10. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 19,095 | 68,145
|  | 19,095 | 68,145
11. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 8,027 | 12,900
| Other loans | 14,755 | 13,461
| Trade creditors | 152,591 | 175,954
| Corporation tax | 30,555 | 17,170
| Other creditors | 6,976 | 26,832
| Accruals and deferred income | 41,038 | 3,600
|  | 253,942 | 249,917
12. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 33,131 | 54,822
| Other loans | 16,049 | 14,755
|  | 49,180 | 69,577
Page 11
VALMORA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
13. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 8,027 | 12,900
| Other loans | 14,755 | 13,461
|  | 22,782 | 26,361
| Amounts falling due 1-2 years |  |
| Bank loans | 5,640 | 5,513
| Other loans | 16,049 | 14,755
|  | 21,689 | 20,268
| Amounts falling due 2-5 years |  |
| Bank loans | 20,422 | 26,191
|  | 20,422 | 26,191
| Amounts falling due after more than 5 years |  |
| Bank loans | 7,069 | 23,118
|  | 7,069 | 23,118
|  | 71,962 | 95,938
14. | Deferred taxation
|  | 2024
|  | £
| At beginning of year | (1,751)
| Charged to profit or loss | 222
| At end of year | (1,529)
Page 12
VALMORA LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 14.Deferred taxation (continued)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | (1,529) | (1,751)
|  | (1,529) | (1,751)
| Of the provision referred to above, it is expected a reduction of £382 (2023 - £510) will be made for the reversal of these timing differences over the next trading period.
15. | Prior year adjustment
The company has restated the amounts shown for the year ended 31 August 2023 to account for the amortisation of the intangible fixed assets over 10 years on a straight line basis. This has resulted in the profit and loss account for the previous year including a charge for amortisation of £5,000 and the reserves at 1 September 2022 being reduced by £3,750 relating to amortisation for previous years.
16. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,185 (2023 - £3,300) .
17. | Commitments under operating leases
| At 31 August 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Later than 5 years | 406,736 | 462,200
|  | 406,736 | 462,200
Page 13