Registered number
09646575
CVS PROPERTIES LTD
Filleted Accounts
30 June 2023
CVS PROPERTIES LTD
Registered number: 09646575
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 928,269 928,787
Current assets
Cash at bank and in hand 380 2,121
Creditors: amounts falling due within one year 4 (199,520) (233,168)
Net current liabilities (199,140) (231,047)
Total assets less current liabilities 729,129 697,740
Creditors: amounts falling due after more than one year 5 (627,135) (627,135)
Provisions for liabilities (18) (116)
Net assets 101,976 70,489
Capital and reserves
Called up share capital 1 1
Profit and loss account 101,975 70,488
Shareholder's funds 101,976 70,489
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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. C V Smith
Director
Approved by the board on 11 January 2024
CVS PROPERTIES LTD
Notes to the Accounts
for the year ended 30 June 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings Not depreciated
Fixtures, fittings and equipment 25% p.a on a straight line
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Fixtures, Fittings & Equipment Total
£ £ £
Cost
At 1 July 2022 928,175 2,073 930,248
At 30 June 2023 928,175 2,073 930,248
Depreciation
At 1 July 2022 - 1,461 1,461
Charge for the year - 518 518
At 30 June 2023 - 1,979 1,979
Net book value
At 30 June 2023 928,175 94 928,269
At 30 June 2022 928,175 612 928,787
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,550 -
Trade creditors 180,193 219,282
Taxation and social security costs 8,286 8,111
Other creditors 9,491 5,775
199,520 233,168
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 627,135 627,135
6 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 627,135 627,135
Secured bank loans 627,135 627,135
The Mortgage provider has a fixed and floating charge on the properties. The charges are registered with Companies House.
7 Controlling party
The company is controlled by C V Smith by virtue of having ownership of 100% of the issued ordinary share capital in the company.
8 Other information
CVS PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
100 ALVERSTONE AVENUE
BARNET
EN4 8EE
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