Company Registration No. 11125745 (England and Wales)
Cavenia Investments Limited
Annual report and unaudited financial statements
For the year ended 31 December 2023
Pages for filing with registrar
CAVENIA INVESTMENTS LIMITED
Cavenia Investments Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CAVENIA INVESTMENTS LIMITED
Cavenia Investments Limited
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
as restated
Notes
Fixed assets
Tangible assets
4
40,503
33,541
Investment property
5
16,441,671
13,228,109
Investments
6
118
118
16,482,292
13,261,768
Current assets
Debtors
7
1,789,337
1,827,254
Cash at bank and in hand
1,230,997
429,872
3,020,334
2,257,126
Creditors: amounts falling due within one year
8
(12,186,251)
(8,387,094)
Net current liabilities
(9,165,917)
(6,129,968)
Total assets less current liabilities
7,316,375
7,131,800
Creditors: amounts falling due after more than one year
9
(5,240,149)
(5,482,064)
Provisions for liabilities
(415,655)
(328,878)
Net assets
1,660,571
1,320,858
Capital and reserves
Called up share capital
11
2
2
Profit and loss reserves
1,660,569
1,320,856
Total equity
1,660,571
1,320,858

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

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

CAVENIA INVESTMENTS LIMITED
Cavenia Investments Limited
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 September 2024 and are signed on its behalf by:
S N Jackson
Director
Company registration number 11125745 (England and Wales)
CAVENIA INVESTMENTS LIMITED
Cavenia Investments Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Cavenia Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

 

The financial statements for the previous accounting period were prepared in sterling rounded to the nearest £ but have been translated at the relevant rate in the current set of accounts.

 

The reason for this change is the switch of the majority of transactions occurring in euros. The directors consider that the functional currency of the company is now euros since the majority of transactions are conducted in euros and most of the company's assets are held in the eurozone.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the rent and recharged costs received or receivable, and is shown net of VAT.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line
Computers
25% straight line
Transformer
25 years straight line
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit or loss account.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

CAVENIA INVESTMENTS LIMITED
Cavenia Investments Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.7
Foreign exchange

Transactions in currencies other than euros 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.

2
Employees

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

2023
2022
Number
Number
Total
2
2
3
Taxation
2023
2022
Current tax
Adjustments in respect of prior periods
1,796
-
0
Foreign current tax on profits for the current period
103,652
-
0
Adjustments in foreign tax in respect of prior periods
24,655
-
0
Total current tax
130,103
-
0
Deferred tax
Origination and reversal of timing differences
86,776
222,684
Total tax charge
216,879
222,684
CAVENIA INVESTMENTS LIMITED
Cavenia Investments Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
4
Tangible fixed assets
Plant and machinery etc
Cost
At 1 January 2023
40,742
Additions
9,600
At 31 December 2023
50,342
Depreciation and impairment
At 1 January 2023
7,201
Depreciation charged in the year
2,638
At 31 December 2023
9,839
Carrying amount
At 31 December 2023
40,503
At 31 December 2022
33,541
5
Investment property
2023
Fair value
At 1 January 2023
13,228,109
Additions
3,192,932
Revaluations
20,630
At 31 December 2023
16,441,671

The valuation of the investment property was made as at 31 December 2023 by the directors of the company on an open market basis. No depreciation is provided in respect of the property.

6
Fixed asset investments
2023
2022
Shares in group undertakings and participating interests
118
118

The fixed asset investment of £100 has been translated into the new functional currency, using the exchange rate on the date the asset was acquired.

CAVENIA INVESTMENTS LIMITED
Cavenia Investments Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
7
Debtors
2023
2022
Amounts falling due within one year:
Trade debtors
-
0
68,748
Corporation tax recoverable
-
0
54,139
Amounts owed by group undertakings
1,712,900
1,623,483
Other debtors
76,437
80,884
1,789,337
1,827,254
8
Creditors: amounts falling due within one year
2023
2022
Corporation tax
103,652
-
0
Other taxation and social security
-
0
5,234
Other creditors
12,082,599
8,381,860
12,186,251
8,387,094
9
Creditors: amounts falling due after more than one year
2023
2022
Bank loans and overdrafts
5,240,149
5,482,064
The bank loans are secured by fixed and floating charges on the company's assets.

 

10
Prior period adjustment

In these accounts, the comparative figures for the previous year have been amended to increase deferred tax by €292,714 in relation to timing differences. This has resulted in the brought forward reserves decreasing from €1,613,572 to €1,320,858.

11
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
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