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Registration number: 06443153

CVA Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

CVA Investments Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

CVA Investments Limited

(Registration number: 06443153)
Balance Sheet as at 31 March 2023

Note

2023

2022

   

£

£

£

£

Fixed assets

   

 

Investment property

5

 

745,000

 

640,000

Current assets

   

 

Debtors

6

158,498

 

159,048

 

Cash at bank and in hand

 

1,888

 

657

 

 

160,386

 

159,705

 

Creditors: Amounts falling due within one year

7

(74,436)

 

(85,860)

 

Net current assets

   

85,950

 

73,845

Total assets less current liabilities

   

830,950

 

713,845

Creditors: Amounts falling due after more than one year

7

 

(541,114)

 

(541,124)

Provisions for liabilities

 

(23,000)

 

-

Net assets

   

266,836

 

172,721

Capital and reserves

   

 

Called up share capital

8

100

 

100

 

Non-distributable reserve

 

157,000

 

75,000

 

Profit and loss account

109,736

 

97,621

 

Total equity

   

266,836

 

172,721

 

CVA Investments Limited

(Registration number: 06443153)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 August 2023 and signed on its behalf by:
 

.........................................

Mr V Cilenti

Director

 

CVA Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
York House
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PE

The principal place of business is:
11 Bark Lane
Addingham
Ilkley
LS29 0RA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Revenue recognition

Turnover represents amounts chargeable in respect of rent.

The company recognises revenue when the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

CVA Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. Valuations are based on observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments


Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

CVA Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2022 - 2).

4

Government grants

During the year the company has received grant income of £800 (2022: £Nil) in respect of the Energy Bills Support Scheme.

5

Investment properties

2023
£

At 1 April 2022

640,000

Fair value adjustments

105,000

At 31 March 2023

745,000

6

Debtors

2023
£

2022
£

Other debtors

158,498

159,048

7

Creditors

2023
£

2022
£

Due within one year

Loans and borrowings

66,432

80,117

Taxation and social security

2,900

4,000

Accruals and deferred income

5,104

1,743

74,436

85,860

2023
£

2022
£

Due after one year

Loans and borrowings

541,114

541,124

2023
£

2022
£

Due after more than five years

After more than five years not by instalments

94,900

541,124

-

-

Creditors falling due in more than one year include bank loans which are secured by a fixed and floating charge over the assets of the company of £541,114 (2022 - £541,124).

 

CVA Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Related party transactions

Expenditure with and payables to related parties

2023

Key management
£

Amounts payable to related party

66,432

2022

Key management
£

Amounts payable to related party

80,117