Registered Number:04679047 |
For the year ended 31 December 2021
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2021
IVS Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
IVS Limited
Statement of Financial Position
2020
2021
Property, plant and equipment |
3,165,635
2,425,635
2
3,165,635
2,425,635
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
100
100
1,116,086
376,086
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. |
These financial statements were approved and authorised for issue by the Board on 22 July 2022 and were signed by: |
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For the year ended 31 December 2021
IVS Limited
Statement of Financial Position Continued
The notes form part of these financial statements |
2 of 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. |
First Floor GWH1
Great West Road
Brentford
Middlesex
TW8 9DF
The presentation currency is £ sterling. |
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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For the year ended 31 December 2021
IVS Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
2,425,635
740,000
3,165,635
3,165,635
2,425,635
3. Trade and other receivables |
2020
2021
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
6,420
6,716
Taxation and social security |
21,753
27,700
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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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
5 of 5