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Registered number: 13120669









VIVAAN AVIATION & DEFENCE SERVICES UK LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
VIVAAN AVIATION & DEFENCE SERVICES UK LTD
REGISTERED NUMBER: 13120669

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
34,152
47,791

Cash at bank and in hand
 5 
211,452
52,497

  
245,604
100,288

Creditors: amounts falling due within one year
 6 
(177,842)
(84,885)

Net current assets
  
 
 
67,762
 
 
15,403

Total assets less current liabilities
  
67,762
15,403

  

Net assets
  
67,762
15,403


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
67,662
15,303

  
67,762
15,403


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2024.




Mr V. V. Gupta
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
VIVAAN AVIATION & DEFENCE SERVICES UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Vivian Aviation & Defence Services UK Ltd is a private company limited by share capital, incorporated in England and Wales. The address of the registered office is Stone World Unit 4-8, 681 Coronation Road, London NW10 7PT, United Kingdom.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company has prepared  forecast that show that the Company has sufficient resources in palce to operate for a period of not less than twelve months following the date of approval of these financial statements. 
On the basis of the above, the directors have a reasonable expectation that the Company has adequate resources to continue to operate for the foreseeable future. They therefore consider that it is appropriate for these financial statements to be prepared using the going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

 
VIVAAN AVIATION & DEFENCE SERVICES UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 3

 
VIVAAN AVIATION & DEFENCE SERVICES UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 4

 
VIVAAN AVIATION & DEFENCE SERVICES UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 4).


4.


Debtors

2023
2022
£
£


Trade debtors
27,708
18,160

Other debtors
333
-

Prepayments and accrued income
6,111
29,631

34,152
47,791



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
211,452
52,497

211,452
52,497



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
637
35,117

Amounts owed to group undertakings
6,725
6,725

Corporation tax
11,605
1,436

Other taxation and social security
-
372

Other creditors
-
165

Accruals and deferred income
158,875
41,070

177,842
84,885


Page 5

 
VIVAAN AVIATION & DEFENCE SERVICES UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Related party transactions

Group and company
The company has taken advantage of the exemption available in FRS102, paragraph 33.1A "Related Party disclosures", whereby it has not disclosed transactions with any wholly owned subsidiary undertakings.


8.


Ultimate parent undertaking and Controlling party

The immediate and ultimate parent company is Vivaan Aviation & Defence Services PVT Ltd., a company registered in India.
The address of Vivaan Aviation & Defence Services PVT Ltd. is:
1C, First Floor, Global 1, Near Phoenix Marketcity, 252 L.B.S Marg, Kurla West, Mumbai, 400 070 India.
 

9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 25 September 2024 by Cécile Chabert (Senior Statutory Auditor) on behalf of Thakur-Chabert Limited.

 
Page 6