To my knowledge the valves have never been adjusted on my 740- B230f. Two weeks ago an indy mechanic told me engine sounds fine (except for piston slap which is normal for 240k), and valves do not need adjusting.
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1990 740GL Wagon 240k AW70L B230F 8 Valve Non-Turbo Rex/Regina Non-EGR R-12 A/C

I have checked and adjusted valve clearances on two B230 engines and it didn't make a discernable difference. As far as I can tell it was a waste of time. I did one adjustment after a head gasket/valve job, where the machine shop, so I was told, tended to set the valve clearances loose, but after all the hassle of measuring clearances, wrestling the shims out and putting the new ones in (used the IPD kit and valve depresser tool), I didn't sense the slightest difference, though the car seems to be running more powerfully and smoothly than when I first got it, but I attributed that more to AutoRX and a lot of TLC over time than the valve clearance change. who knows.
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Darius in Albany NY '86 744 GLE (175K, given to my mother-in-law); '91 745 Turbo (174K-my 'Little Red Wagon'), '00 Toyota Camry (65K - my wife's transportation appliance)

Yes, the answer is don't mess with it. I had my 245 checked at 175k they were perfect. I put a VX cam in about 180k, and they were perfect, no adjustment needed. At 200k, seeing that I had some disposable cash, I took the car to the dealer and paid $100 for a Zero tolerance valve adjust, meaning .0005 or +/- one-half of a shim in instead of the .002 tolerance that Volvo reccomends.
It gave me a noticable inprovement in performance and mileage, but not necesary at all, unless you've got performance on the brain and are a little anal about things. :)
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'89 245 Sportwagon, '04 V70 2.5T Sportwagon

Keep your tools safe in the ToolBox.

What they said. I got 250Kish on the clock. never touched the Shims.
Drive it.
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'75 Jeep CJ5 345Hp ChevyPwrd, two motorcycles, '85 Pickup: The '89 Volvo is the newest vehicle I own. it wasn't Volvos safety , it was Longevity that sold me

I checked my '90 240 at about 128k, fine, its at about 205k now, I'm considering checking them again...mabey. My '93 940t has about 145k on it and the've never been adjusted, it's also been on synthetic since 15k.
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-------Robert, '93 940t, '90 240 wagon, '84 240 diesel (she's sick) , '80 245 diesel, '82 Mercedes 300SD

At 112,000 miles your engine is just getting broken in. The valves, shims & cam lobes are very hardy in this engine & rarely require adjusting or replacing shims. Search the posts here for advice, but like you said "If it ain't broken don't fix it!"

Good Luck
Danny Mac