JV Success Limited 10572885 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true false 10572885 2023-02-01 2024-01-31 10572885 2024-01-31 10572885 bus:Director1 1 2024-01-31 10572885 bus:Director2 1 2024-01-31 10572885 core:CurrentFinancialInstruments 2024-01-31 10572885 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 10572885 core:Non-currentFinancialInstruments 2024-01-31 10572885 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 10572885 core:AdditionsToInvestments 2024-01-31 10572885 core:FurnitureFittingsToolsEquipment 2024-01-31 10572885 bus:SmallEntities 2023-02-01 2024-01-31 10572885 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 10572885 bus:FilletedAccounts 2023-02-01 2024-01-31 10572885 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 10572885 bus:RegisteredOffice 2023-02-01 2024-01-31 10572885 bus:Director1 2023-02-01 2024-01-31 10572885 bus:Director1 1 2023-02-01 2024-01-31 10572885 bus:Director2 2023-02-01 2024-01-31 10572885 bus:Director2 1 2023-02-01 2024-01-31 10572885 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 10572885 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 10572885 core:AllSubsidiaries 2023-02-01 2024-01-31 10572885 countries:AllCountries 2023-02-01 2024-01-31 10572885 2023-01-31 10572885 bus:Director1 1 2023-01-31 10572885 bus:Director2 1 2023-01-31 10572885 core:FurnitureFittingsToolsEquipment 2023-01-31 10572885 2022-02-01 2023-01-31 10572885 2023-01-31 10572885 bus:Director1 1 2023-01-31 10572885 core:CurrentFinancialInstruments 2023-01-31 10572885 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 10572885 core:Non-currentFinancialInstruments 2023-01-31 10572885 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 10572885 core:FurnitureFittingsToolsEquipment 2023-01-31 10572885 bus:Director1 1 2022-02-01 2023-01-31 10572885 bus:Director1 1 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 10572885

JV Success Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

JV Success Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

JV Success Limited

Company Information

Directors

S Janarthanan

V Bharakhda

Registered office

Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

JV Success Limited

(Registration number: 10572885)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

6,509

8,678

Investment property

5

1,485,655

1,485,655

Investments

6

1

1

 

1,492,165

1,494,334

Current assets

 

Debtors

7

10,693

-

Cash at bank and in hand

 

3,389

11,218

 

14,082

11,218

Creditors: Amounts falling due within one year

8

(393,795)

(438,664)

Net current liabilities

 

(379,713)

(427,446)

Total assets less current liabilities

 

1,112,452

1,066,888

Creditors: Amounts falling due after more than one year

8

(977,952)

(956,691)

Provisions for liabilities

(37,138)

(37,138)

Net assets

 

97,362

73,059

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

97,360

73,057

Shareholders' funds

 

97,362

73,059

 

JV Success Limited

(Registration number: 10572885)
Balance Sheet as at 31 January 2024

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 29 October 2024 and signed on its behalf by:
 

.........................................
S Janarthanan
Director

.........................................
V Bharakhda
Director

 

JV Success Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

JV Success Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25% Reducing Balance Method

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

JV Success Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

17,506

17,506

At 31 January 2024

17,506

17,506

Depreciation

At 1 February 2023

8,828

8,828

Charge for the year

2,169

2,169

At 31 January 2024

10,997

10,997

Carrying amount

At 31 January 2024

6,509

6,509

At 31 January 2023

8,678

8,678

5

Investment properties

2024
£

At 1 February

1,485,655

At 31 January

1,485,655

 

JV Success Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

Additions

1

Provision

Carrying amount

At 31 January 2024

1

At 31 January 2023

1

7

Debtors

Current

2024
£

2023
£

Trade debtors

8,374

-

Other debtors

2,319

-

 

10,693

-

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

2,596

-

Taxation and social security

 

6,845

6,488

Accruals and deferred income

 

2,280

1,680

Other creditors

 

382,074

430,496

 

393,795

438,664

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

977,952

956,691

 

JV Success Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each of £1 each

2

2

2

2

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

413,245

413,245

Other borrowings

564,707

543,446

977,952

956,691

Current loans and borrowings

2024
£

2023
£

Bank borrowings

2,596

-

11

Related party transactions

Transactions with directors

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

V Bharakhda

Transactions with director

-

350

(5,550)

(5,200)

S Janarthanan

Transactions with director

(83,473)

19,200

(5,000)

(69,273)

2023

At 1 February 2022
£

Advances to director
£

Repayments by director
£

At 31 January 2023
£

S Janarthanan

Transactions with director

(139,368)

56,680

(785)

(83,473)

 

JV Success Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Summary of transactions with all subsidiaries

Maata Properties Limited
At the balance sheet date the amount due to Maata Properties Limited was £131,413.47 (2023 - £131,413.47). V Bharakhda is the
director of this company.

Rosla Property Services Ltd
At the balance sheet date the amount due to Rosla Property Services Ltd was £18,328.40 (2023 - £18,551.40). V Bharakhda and S Janarthanan are the directors of this company.

Silver Heights Properties Ltd
At the balance sheet date the amount due to Silver Heights Properties Ltd was £116,858.81 (2023 - £116,858.81). S Janarthanan is the director of this company.