2021-01-01 04679047 2021-12-31 04679047 2021-01-01 2021-12-31 04679047 2020-12-31 04679047 2020-01-01 2020-12-31 04679047 uk-core:WithinOneYear 2020-12-31 04679047 uk-core:WithinOneYear 2021-12-31 04679047 uk-core:AfterOneYear 2020-12-31 04679047 uk-core:AfterOneYear 2021-12-31 04679047 uk-core:ShareCapital 2021-12-31 04679047 uk-core:ShareCapital 2020-12-31 04679047 uk-core:InvestmentPropertiesRevaluationReserve 2021-12-31 04679047 uk-core:InvestmentPropertiesRevaluationReserve 2020-12-31 04679047 uk-core:RetainedEarningsAccumulatedLosses 2021-12-31 04679047 uk-core:RetainedEarningsAccumulatedLosses 2020-12-31 04679047 uk-bus:Director1 2021-01-01 2021-12-31 04679047 uk-core:WithinOneYear uk-core:Secured 2021-12-31 04679047 uk-core:WithinOneYear uk-core:Secured 2020-12-31 iso4217:GBP xbrli:pure 04679047 uk-bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 04679047 uk-bus:FRS102 2021-01-01 2021-12-31 04679047 uk-bus:FullAccounts 2021-01-01 2021-12-31 04679047 uk-bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31
IVS Limited
Registered Number:04679047
For the year ended 31 December 2021
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2021
IVS Limited
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
3
Registered Number :
04679047
As at 31 December 2021
IVS Limited
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
3,165,635
2,425,635
2
3,165,635
2,425,635
Current assets
Trade and other receivables
5,250
23,017
3
16,640
Cash and cash equivalents
31,195
54,212
21,890
Trade and other payables: amounts falling due within one year
(76,088)
(93,713)
4
(54,198)
(39,501)
Net current liabilities
Total assets less current liabilities
3,126,134
2,371,437
Trade and other payables: amounts falling due after more than one
year
(1,231,478)
(1,226,802)
5
(212,056)
(63,935)
Provisions for liabilities
1,687,276
Net assets
1,076,024
Capital and reserves
Called up share capital
100
100
Fair value reserve
1,116,086
376,086
Retained earnings
571,090
699,838
1,687,276
1,076,024
Shareholders' funds
For the year ended 31 December 2021 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 ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006
The director acknowledges her responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 and
which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable
to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
N Kapoor Director
These financial statements were approved and authorised for issue by the Board on 22 July 2022 and were signed by:
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4
Registered Number :
04679047
For the year ended 31 December 2021
IVS Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 December 2021
IVS Limited
Notes to the Financial Statements
Statutory Information
IVS Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 04679047.
Registered address:
First Floor GWH1
Great West Road
Brentford
Middlesex
TW8 9DF
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax.
Investment property
Investment properties consist of freehold and leasehold properties that are held to earn rentals or for capital appreciation or both. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified. Investment properties are stated at fair value as at the year end, which is based on the most recent valuation carried out in May 2021 by independent professional registered valuers, after taking into account factors that may lead to the asset impairment. Any aggregate surplus or deficit arising in fair value is recognised in profit and loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. Deferred tax relating to investment properties is measured using the tax rates and allowances that apply to the sale of the asset. The provision for liabilities in the statement of financial position is the deferred tax provision on investment property fair value gains at 19%.
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6
For the year ended 31 December 2021
IVS Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Land and
buildings
£
Cost or valuation
At 01 January 2021
2,425,635
740,000
Revaluations
At 31 December 2021
3,165,635
At 31 December 2021
Net book value
3,165,635
At 31 December 2020
2,425,635
3. Trade and other receivables
2020
2021
£
£
Other debtors
23,017
5,250
4. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Bank loans and overdraft (secured)
33,955
31,617
Trade creditors
6,420
6,716
Taxation and social security
21,753
27,700
Other creditors
31,585
10,055
93,713
76,088
5. Trade and other payables: amounts falling due after more than one year
2020
2021
£
£
Bank loans and overdraft (secured)
1,226,802
1,231,478
6. Related party transactions
The director, N Kapoor, has a material interest in IVS Group Limited., a company incorporated in England and Wales.
During the year, the company received rent and service fees of £54,250 (2020 : £94,000) from IVS Group Limited in the normal
course of business.
The company is controlled by its director, N Kapoor, by virtue of her 100% shareholding in the company.
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7
For the year ended 31 December 2021
IVS Limited
Notes to the Financial Statements Continued
7. Average number of persons employed
During the year the average number of employees was 0
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