Registered number
11203258
Airivo Chislehurst Ltd
Filleted Accounts
31 March 2023
Airivo Chislehurst Ltd
Registered number: 11203258
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 7,150 9,750
Tangible assets 4 2,587,691 2,193,873
Investments 5 100 100
2,594,941 2,203,723
Current assets
Debtors 6 65,815 48,798
Cash at bank and in hand 15,161 48,767
80,976 97,565
Creditors: amounts falling due within one year 7 (1,096,442) (967,660)
Net current liabilities (1,015,466) (870,095)
Total assets less current liabilities 1,579,475 1,333,628
Creditors: amounts falling due after more than one year 8 (1,126,658) (1,300,000)
Provisions for liabilities (84,690) (18,734)
Net assets 368,127 14,894
Capital and reserves
Called up share capital 100 100
Non Distributable Reserve 361,047 79,866
Profit and loss account 6,980 (65,072)
Shareholders' funds 368,127 14,894
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Naveen Bhandari Mr Suresh Aggarwal
Director Director
Approved by the board on 20 October 2023 Approved by the board on 20 October 2023
Airivo Chislehurst Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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).
Turnover
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. 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.
Debtors
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.
Creditors
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.
Going Concern
At 31 March 2023 the company had net current liabilities of £1,015,466 [2022 - £870,095] which mainly comprises of a loan payable to an associated company. The directors of the company are confident that all payments and liabilities will be met as and when they arise. The directors are of the opinion that the financial statements should be drawn up on a going concern basis.
Revaluation
The company has revalued its Land and Buildings in accordance with paragraphs 11.27 and 11.32 of FRS 102.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Loan arrangement fees
Cost
At 1 April 2022 13,000
At 31 March 2023 13,000
Amortisation
At 1 April 2022 3,250
Provided during the year 2,600
At 31 March 2023 5,850
Net book value
At 31 March 2023 7,150
At 31 March 2022 9,750
Loan arrangement fees of £13,000 which arose in the year end 31 March 2022 is being written off over 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 2,113,227 223,845 2,337,072
Additions 39,636 46,442 86,078
Surplus on revaluation 347,137 - 347,137
At 31 March 2023 2,500,000 270,287 2,770,287
Depreciation
At 1 April 2022 - 143,199 143,199
Charge for the year - 39,397 39,397
At 31 March 2023 - 182,596 182,596
Net book value
At 31 March 2023 2,500,000 87,691 2,587,691
At 31 March 2022 2,113,227 80,646 2,193,873
The directors have revalued the freehold property at the Balance Sheet date based on the purchase price, acquisition costs and the enhancement costs to date. An independent professional valuation was not instructed during the year.The property value £2,500,000 at 31 March 2023.
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2022 100
At 31 March 2023 100
6 Debtors 2023 2022
£ £
Trade debtors 36,445 28,663
Other debtors 29,370 20,135
65,815 48,798
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 86,671 -
Trade creditors 151,396 38,254
Taxation and social security costs 21,810 20,384
Other creditors 836,565 909,022
1,096,442 967,660
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 1,126,658 1,300,000
9 Controlling party
The company is controlled by Mr Naveen Bhandari by virtue of 65% shareholding in the issued share capital of the company.
10 Other information
Airivo Chislehurst Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Boundary House
Boston Road
Hanwell
W7 2QE
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