2022-01-012022-12-312022-12-31false08808571BVM Associates 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BVM Associates Ltd

Registered Number
08808571
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2022

BVM Associates Ltd
Company Information
for the year from 1 January 2022 to 31 December 2022

Directors

Tushar Shah
Urvashi Shah

Registered Address

231 Kenton Road
Harrow
HA3 0HD

Registered Number

08808571 (England and Wales)
BVM Associates Ltd
Statement of Financial Position
31 December 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Tangible assets61,375,5881,375,588
1,375,5881,375,588
Current assets
Debtors7360,08715,838
Cash at bank and on hand13,04616,838
373,13332,676
Creditors amounts falling due within one year8(895,026)(771,615)
Net current assets (liabilities)(521,893)(738,939)
Total assets less current liabilities853,695636,649
Creditors amounts falling due after one year9(743,605)(546,075)
Net assets110,09090,574
Capital and reserves
Called up share capital100100
Profit and loss account109,99090,474
Shareholders' funds110,09090,574
The financial statements were approved and authorised for issue by the Board of Directors on 29 September 2023, and are signed on its behalf by:
Tushar Shah
Director
Registered Company No. 08808571
BVM Associates Ltd
Notes to the Financial Statements
for the year ended 31 December 2022

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The company's principal activity during the year continued to be in buying and selling of own real estate,& letting and operating of own or leased real estate.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
5.Employee information

20222021
Average number of employees during the year22
6.Property, plant and equipment

Land & buildings

Total

££
Cost or valuation
At 01 January 221,375,5881,375,588
At 31 December 221,375,5881,375,588
Net book value
At 31 December 221,375,5881,375,588
At 31 December 211,375,5881,375,588
7.Debtors

2022

2021

££
Trade debtors / trade receivables12,62515,250
Other debtors344,933-
Prepayments and accrued income2,529588
Total360,08715,838
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. The total amount owed by other debtors is £344,933, and it consists of individual loan amounts from four different companies. Cross Retail Ltd owes £70,581, SNS Absolute Care Ltd owes £201,951, Molecule Pharma Ltd owes £62,324, and 3E'S Accountants Ltd owes £10,076. It's important to note that each of these loan amounts includes interest income, which has been calculated based on the agreed-upon interest rate.
8.Creditors within one year

2022

2021

££
Trade creditors / trade payables27,9466,349
Taxation and social security11,44915,051
Other creditors842,439738,762
Accrued liabilities and deferred income13,19211,453
Total895,026771,615
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. The company's outstanding liabilities, encompassing various creditors, amount to £842,439. These include £20,270 owed to Pathak's Ltd, £10,000 payable to V & S Patel, carried over from the previous year, and £2,307 designated for rental deposits refundable to tenants. Additionally, there is £34,678 owed to Edaliso Global Services Ltd and a significant sum of £775,185 owed to the Directors for the capital injection they provided over the current and previous years.
9.Creditors after one year

2022

2021

££
Other creditors743,605546,075
Total743,605546,075