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REGISTERED NUMBER: 07189071 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

CABVISION CAPITAL LIMITED

CABVISION CAPITAL LIMITED (REGISTERED NUMBER: 07189071)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CABVISION CAPITAL LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTOR: L A J DaCosta





REGISTERED OFFICE: Langley House
Park Road
London
N2 8EY





REGISTERED NUMBER: 07189071 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

CABVISION CAPITAL LIMITED (REGISTERED NUMBER: 07189071)

STATEMENT OF FINANCIAL POSITION
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,337,179 3,396,119

CURRENT ASSETS
Debtors 5 422,395 367,978
Cash at bank and in hand 149,283 284,179
571,678 652,157
CREDITORS
Amounts falling due within one year 6 2,032,565 1,725,159
NET CURRENT LIABILITIES (1,460,887 ) (1,073,002 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,876,292

2,323,117

CREDITORS
Amounts falling due after more than one
year

7

(702,223

)

(1,243,815

)

PROVISIONS FOR LIABILITIES (759,343 ) (560,404 )
NET ASSETS 414,726 518,898

CAPITAL AND RESERVES
Called up share capital 1 1
Capital contribution - 104,562
Retained earnings 414,725 414,335
SHAREHOLDERS' FUNDS 414,726 518,898

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CABVISION CAPITAL LIMITED (REGISTERED NUMBER: 07189071)

STATEMENT OF FINANCIAL POSITION - continued
30 November 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





L A J DaCosta - Director


CABVISION CAPITAL LIMITED (REGISTERED NUMBER: 07189071)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Cabvision Capital Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the going concern basis, the applicability of which is dependent upon the continued support of the company's creditors and financiers. The Statement of Financial Position shows net liabilities, the director is of the opinion that the creditors and financiers will continue to support it, and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes Turnover for the year is wholly derived from hiring out of London taxi cabs and is recognised once the service has been provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 10% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


CABVISION CAPITAL LIMITED (REGISTERED NUMBER: 07189071)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all deferred timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Impairment of assets
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the assets and generates cash inflows that are largely independent of the cash inflows from other assets or group of assets.

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 material 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 or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

CABVISION CAPITAL LIMITED (REGISTERED NUMBER: 07189071)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 3,965,928
Additions 386,918
Disposals (81,000 )
At 30 November 2023 4,271,846
DEPRECIATION
At 1 December 2022 569,809
Charge for year 370,798
Eliminated on disposal (5,940 )
At 30 November 2023 934,667
NET BOOK VALUE
At 30 November 2023 3,337,179
At 30 November 2022 3,396,119

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2022
and 30 November 2023 435,433
DEPRECIATION
At 1 December 2022 259,113
Charge for year 17,632
At 30 November 2023 276,745
NET BOOK VALUE
At 30 November 2023 158,688
At 30 November 2022 176,320

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 36,324 41,520
Amounts owed by group undertakings 70,372 75,106
Other debtors 315,699 251,352
422,395 367,978

Within other debtors are prepayments of £315,699 (2022: £251,352 ).

CABVISION CAPITAL LIMITED (REGISTERED NUMBER: 07189071)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 296,149 296,149
Trade creditors 283,674 257,461
Amounts owed to group undertakings 1,422,859 1,129,037
Taxation and social security 13,639 8,540
Other creditors 16,244 33,972
2,032,565 1,725,159

Within other creditors are accruals of £5,174 (2022: £8,282) and deferred income of £7,399 (2022 : 21,469 )

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 52,223 348,377
Other creditors 650,000 895,438
702,223 1,243,815

8. ULTIMATE CONTROLLING PARTY

The company is a majority owned subsidiary of Onmedia Group Limited, who is under the control of its shareholder, Sterling Intellectual Transportation Systems Ltd which is a company incorporated in Jersey.