CVA Estates Limited 05781353 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is property rental Digita Accounts Production Advanced 6.30.9574.0 true 05781353 2023-04-01 2024-03-31 05781353 2024-03-31 05781353 bus:OrdinaryShareClass1 2024-03-31 05781353 core:CurrentFinancialInstruments 2024-03-31 05781353 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05781353 core:Non-currentFinancialInstruments 2024-03-31 05781353 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 05781353 core:OfficeEquipment 2024-03-31 05781353 core:OtherPropertyPlantEquipment 2024-03-31 05781353 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-03-31 05781353 bus:SmallEntities 2023-04-01 2024-03-31 05781353 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05781353 bus:FilletedAccounts 2023-04-01 2024-03-31 05781353 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05781353 bus:RegisteredOffice 2023-04-01 2024-03-31 05781353 bus:Director2 2023-04-01 2024-03-31 05781353 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 05781353 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05781353 core:ComputerEquipment 2023-04-01 2024-03-31 05781353 core:OfficeEquipment 2023-04-01 2024-03-31 05781353 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 05781353 countries:EnglandWales 2023-04-01 2024-03-31 05781353 2023-03-31 05781353 core:OfficeEquipment 2023-03-31 05781353 core:OtherPropertyPlantEquipment 2023-03-31 05781353 2022-04-01 2023-03-31 05781353 2023-03-31 05781353 bus:OrdinaryShareClass1 2023-03-31 05781353 core:CurrentFinancialInstruments 2023-03-31 05781353 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05781353 core:Non-currentFinancialInstruments 2023-03-31 05781353 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 05781353 core:OfficeEquipment 2023-03-31 05781353 core:OtherPropertyPlantEquipment 2023-03-31 05781353 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05781353

CVA Estates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

CVA Estates Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

CVA Estates Limited

(Registration number: 05781353)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

191

 

286

Investment property

5

 

665,000

 

635,000

   

665,191

 

635,286

Current assets

   

 

Cash at bank and in hand

 

4,353

 

2,318

 

Creditors: Amounts falling due within one year

6

(289,137)

 

(234,810)

 

Net current liabilities

   

(284,784)

 

(232,492)

Total assets less current liabilities

   

380,407

 

402,794

Creditors: Amounts falling due after more than one year

6

 

-

 

(66,567)

Provisions for liabilities

 

(52,500)

 

(45,000)

Net assets

   

327,907

 

291,227

Capital and reserves

   

 

Called up share capital

8

100

 

100

 

Non-distributable reserve

265,480

 

244,980

 

Profit and loss account

62,327

 

46,147

 

Shareholders' funds

   

327,907

 

291,227

 

CVA Estates Limited

(Registration number: 05781353)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

.........................................
Mr V Cilenti
Director

 

CVA Estates Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
York House
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PE

The principal place of business is:
11 Bark Lane
Addingham
Ilkley
LS29 0RA

These financial statements were authorised for issue by the Board on 19 November 2024.

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

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.

The company's functional and presentation currency is pound sterling.

Revenue recognition

Turnover represents amounts chargeable in respect of rents.

The company recognises revenue when the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current and deferred 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 corporation 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.

 

CVA Estates Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

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.

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

Plant and machinery

20% straight line basis

Computer equipment

25% straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. Valuations are based on observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

CVA Estates Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

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

 

CVA Estates Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Plant and machinery
 £

Computer equipment
 £

Total
£

Cost or valuation

At 1 April 2023

721

381

1,102

At 31 March 2024

721

381

1,102

Depreciation

At 1 April 2023

721

95

816

Charge for the year

-

95

95

At 31 March 2024

721

190

911

Carrying amount

At 31 March 2024

-

191

191

At 31 March 2023

-

286

286

5

Investment properties

2024
£

At 1 April

635,000

Fair value adjustments

30,000

At 31 March

665,000

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

132,088

69,372

Taxation and social security

 

3,850

3,100

Accruals and deferred income

 

1,500

3,840

Other creditors

 

151,699

158,498

 

289,137

234,810

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

-

66,567

Creditors due in over one year include bank loans which are secured by fixed and floating charges over the property and other assets of the business of £Nil (2023 - £66,567).

 

CVA Estates Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

66,569

-

Other borrowings

65,519

69,372

132,088

69,372

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

66,567

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Related party transactions

Expenditure with and payables to related parties

2024

Key management
£

Amounts payable to related party

65,519

2023

Key management
£

Amounts payable to related party

69,372