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Registered number: 15633059 VALOREM MODULAR 1 LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 30 APRIL 2025
VALOREM MODULAR 1 LIMITED REGISTERED NUMBER: 15633059 BALANCE SHEET AS AT 30 APRIL 2025
|  | 2025
Note |  | £
Current assets |  |  |
Stocks | 4 | 735,811 |
Debtors: amounts falling due within one year | 5 | 10 |
|  | 735,821 |
Creditors: amounts falling due within one year | 6 | (1,065,887) |
Net current (liabilities)/assets |  |  | (330,066)
Total assets less current liabilities |  |  | (330,066)
Net (liabilities)/assets |  |  | (330,066)
Capital and reserves |  |  |
Called up share capital |  |  | 10
Profit and loss account |  |  | (330,076)
|  |  | (330,066)
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VALOREM MODULAR 1 LIMITED REGISTERED NUMBER: 15633059 BALANCE SHEET (CONTINUED) AS AT 30 APRIL 2025 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 period 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 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 by:
A C S Maxwell-Jones
Director
Date: 7 April 2026
The notes on pages 3 to 5 form part of these financial statements. Page 2
VALOREM MODULAR 1 LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025
1. | General information
Valorem Modular 1 Limited is a private company limited by shares incorporated in England & Wales (registered number: 15633059). The registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The financial statements are presented in Sterling, which is the functional currency of the Company. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Going concern
The financial statements have been prepared on the going concern basis. The Company is dependent on investors for financial support, which the director is confident will continue for a period of at least another 12 months from the date of approval of the financial statements. The investors have indicated their intention to provide adequate finance to enable the Company to continue in operational existence, and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the investors.
| 2.3 | 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. Page 3
VALOREM MODULAR 1 LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.4 | 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. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 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 | 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 balance sheet 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.
| 2.7 | 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.
| 2.8 | 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.
3. | Employees
| The Company has no employees other than the directors, who did not receive any remuneration.
4. | Stocks
|  |  |  |  | 2025
|  |  |  |  | £
| Property | 735,811
|  | 735,811
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VALOREM MODULAR 1 LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025
5. | Debtors
|  |  |  |  | 2025
|  |  |  |  | £
| Other debtors | 10
|  | 10
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025
|  |  |  |  | £
| Other creditors | 1,048,523
| Accruals and deferred income | 17,364
|  | 1,065,887
7. | Share capital
|  |  |  |  | 2025
|  |  |  |  | £
|  | Allotted, called up and fully paid |
|  | 1,000 Ordinary shares of £0.01 each | 10
On incorporation, the Company allotted 10 x Ordinary shares of £1 nominal value each at par. On 15 April 2024, these were subdivided to 1,000 Ordinary shares of £0.01 nominal value each.
8. | Related party transactions
| At the reporting date, £41,041 was owed to connected parties on an interest-free basis, and is included within creditors.
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