Anyvan Business Limited
Financial Statements
For the year ended 31 March 2023
Pages for Filing with Registrar
Company Registration No. 08835480 (England and Wales)
Anyvan Business Limited
Company Information
Directors
A Elphinstone
M Clifton
Company number
08835480
Registered office
5th Floor The Triangle
Hammersmith Grove
London
United Kingdom
W6 0LG
Auditor
Moore Kingston Smith LLP
9 Appold Street
London
EC2A 2AP
Anyvan Business Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
Anyvan Business Limited
Balance Sheet
As at 31 March 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
1,057,698
3,910,231
Cash at bank and in hand
59,413
3,073
1,117,111
3,913,304
Creditors: amounts falling due within one year
5
(2,909,346)
(4,735,740)
Net current liabilities
(1,792,235)
(822,436)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(1,792,335)
(822,536)
Total equity
(1,792,235)
(822,436)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 30 October 2023 and are signed on its behalf by:
A Elphinstone
Director
Company Registration No. 08835480
Anyvan Business Limited
Notes to the Financial Statements
For the year ended 31 March 2023
Page 2
1
Accounting policies
Company information

Anyvan Business Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5th Floor The Triangle, Hammersmith Grove, London, United Kingdom, W6 0LG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 1A “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company made a loss of £true969,799 (2022: £382,778) during the year and had net liabilities of £1,792,235 (2022: £822,436) as at 31 March 2023. The directors have prepared detailed forecasts for the company's future cash requirements and are satisfied that the company has sufficient available cash to allow it to pay all its creditors as they fall due, for a period of at least twelve months from the date of approval of the financial statements.

 

Furthermore, the ultimate parent company has confirmed they will provide financial support, for a period of at least twelve months from the date of approval of these financial statements, as required to its subsidiary undertakings, of which Anyvan Business Limited is one. This includes providing support for intercompany balances to ensure they are recoverable. This support has been confirmed in a signed letter of support.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable at the point of delivery, for transportation and delivery services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Anyvan Business Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
1
Accounting policies
(Continued)
Page 3
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Anyvan Business Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 4
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Recoverability of trade debtors

An allowance for doubtful debts is maintained for estimated losses from the inability of the company's customers to make required payments.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
14
20
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
497,607
2,270,129
Prepayments and accrued income
495,224
1,575,235
992,831
3,845,364
Deferred tax asset
64,867
-
0
1,057,698
3,845,364
Anyvan Business Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
4
Debtors
(Continued)
Page 5
2023
2022
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
64,867
Total debtors
1,057,698
3,910,231
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,810
131,640
Amounts owed to group undertakings
2,847,855
4,448,016
Taxation and social security
53,120
92,030
Other creditors
2,567
1,024
Accruals and deferred income
3,994
63,030
2,909,346
4,735,740
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Jamie Sherman and the auditor was Moore Kingston Smith LLP.
8
Related party transactions

The company had related party transactions with wholly owned subsidiaries and as such has taken advantage of the exemption permitted under section 33.1 A not to provide disclosures of transactions entered into with other wholly owned members of the group.

Anyvan Business Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 6
9
Parent company

The immediate parent company is Anyvan Holdings Limited whose address is 5th Floor The Triangle, 5 - 17 Hammersmith Grove, London, W6 0LG.

The ultimate controlling party is Vitruvian Partners, a private equity fund.

The largest group of undertakings for which group accounts will be drawn up is that headed by Opus TopCo Limited, whose registered address is 5th Floor The Triangle, 5 - 17 Hammersmith Grove, London, W6 0LG, and copies of the accounts are available from Companies House, Crown Way, Cardiff, CF14 3UZ.

The directors do not consider there to be a single controlling party.

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