2022-01-242022-09-302022-09-30false13866348SPV 17 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SPV 17 LIMITED

Registered Number
13866348
(England and Wales)

Unaudited Financial Statements for the Period ended
30 September 2022

SPV 17 LIMITED
Company Information
for the period from 24 January 2022 to 30 September 2022

Director

Pakkirisamy Bhoopalan Natarajan

Registered Address

Cranbrook House
61 Cranbrook Road
Ilford
IG1 4PG

Registered Number

13866348 (England and Wales)
SPV 17 LIMITED
Balance Sheet as at
30 September 2022

Notes

2022

£

£

Current assets
Debtors10104,500
Cash at bank and on hand420
104,920
Creditors amounts falling due within one year11(105,840)
Net current assets (liabilities)(920)
Total assets less current liabilities(920)
Net assets(920)
Capital and reserves
Called up share capital100
Profit and loss account(1,020)
Shareholders' funds(920)
The financial statements were approved and authorised for issue by the Director on 12 October 2023, and are signed on its behalf by:
Pakkirisamy Bhoopalan Natarajan
Director
Registered Company No. 13866348
SPV 17 LIMITED
Notes to the Financial Statements
for the period ended 30 September 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 that of renting of an investment property.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.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.
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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The financial statements have been prepared on the basis that the company will receive continued financial support from bank, the parent company and the director and has adequate resources to continue in operational existence for the foreseeable future.
6.Employee information

2022
Average number of employees during the year1
7.Description of financial commitments other than capital commitments
There were no operating lease commitments.
8.Description of nature of transactions and balances with related parties
Related party transactions "The company is a wholly owned subsidiary of Chosen Care Group Limited (the parent company). The registered office address for the parent is: 61 Cranbrook Road, Ilford, Essex, IG1 4PG. At the balance sheet date, the company is owed £104,500 by Chosen Care Group Limited (the parent), which is an interest free loan, receivable on demand. SPV 17 Ltd owes £105,000 to SPV 10 Ltd (a sister company) which is an interest free loan, repayable on demand.
9.Further information regarding the company's financial position
Ultimate controlling party: Chosen Care Group Limited is the ultimate controlling party. Other information: SPV 17 Limited is a private company limited by shares and incorporated in England. Its registered office is: Cranbrook House 61 Cranbrook Road Ilford Essex IG1 4PG
10.Debtors

2022

£
Trade debtors / trade receivables104,500
Total104,500
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.
11.Creditors within one year

2022

£
Trade creditors / trade payables105,000
Accrued liabilities and deferred income840
Total105,840
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.