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REGISTERED NUMBER: 10485128 (England and Wales)












Financial Statements

for the Year Ended 28 November 2023

for

SSV Investments Trading Limited

SSV Investments Trading Limited (Registered number: 10485128)






Contents of the Financial Statements
for the Year Ended 28 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SSV Investments Trading Limited

Company Information
for the Year Ended 28 November 2023







DIRECTOR: A Seth





REGISTERED OFFICE: Oakwood Estate
Chertsey Road
Windlesham
Surrey
GU20 6HY





REGISTERED NUMBER: 10485128 (England and Wales)





AUDITORS: Butler & Co Audit Limited
Chartered Accountants and Registered Auditors
The Old Stables
Sutton Manor Farm
Bishops Sutton
Alresford
Hampshire
SO24 0AA

SSV Investments Trading Limited (Registered number: 10485128)

Balance Sheet
28 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,516 71,811

CURRENT ASSETS
Debtors 5 108,288 576
Cash at bank 18,397 2,427
126,685 3,003
CREDITORS
Amounts falling due within one year 6 12,036,222 11,040,213
NET CURRENT LIABILITIES (11,909,537 ) (11,037,210 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(11,853,021

)

(10,965,399

)

CREDITORS
Amounts falling due after more than one
year

7

40,522

46,840
NET LIABILITIES (11,893,543 ) (11,012,239 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings (11,893,544 ) (11,012,240 )
SHAREHOLDERS' FUNDS (11,893,543 ) (11,012,239 )

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 28 November 2024 and were signed by:





A Seth - Director


SSV Investments Trading Limited (Registered number: 10485128)

Notes to the Financial Statements
for the Year Ended 28 November 2023

1. STATUTORY INFORMATION

SSV Investments Trading 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Financial instruments
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.

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.

Finance costs
Finance costs are charge to the profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

SSV Investments Trading Limited (Registered number: 10485128)

Notes to the Financial Statements - continued
for the Year Ended 28 November 2023

2. ACCOUNTING POLICIES - continued

Going concern
The directors consider the going concern basis to be appropriate having paid due regard to the company's projected results during the twelve months from the date of the financial statements are approved and the anticipated cash flows, availability of support from its immediate parent undertaking SSV Investments Limited (including them not requesting any payments due to it by the company whilst any other creditors of the company remain unpaid, except to the extent that the company is able to discharge all its debts and liabilities as they fall due) and any other mitigating actions that can be taken during the period.

Whilst a letter of support has been received from SSV Investments Limited and the director Mr J Varkey, the company has a material uncertainty in relation to its going concern status as a result of its reliance on the support of SSV Investments Limited and Mr J Varkey.

Transfer pricing
The UK’s transfer pricing legislation details how transactions between connected parties are handled and in common with many other countries is based on the internationally recognised ‘arm’s length principle’.

The UK legislation allows only for a transfer pricing adjustment to increase taxable profits or reduce a tax loss. It is not possible to decrease profits or increase a tax loss.

The ‘arm’s length principle’ applies to transactions between connected parties. For tax purposes such transactions are treated by reference to the profit that would have arisen if the transactions had been carried out under comparable conditions.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 29 November 2022
and 28 November 2023 17,685 6,669 124,391 8,842 157,587
DEPRECIATION
At 29 November 2022 13,403 5,327 59,765 7,281 85,776
Charge for year 1,412 443 12,925 515 15,295
At 28 November 2023 14,815 5,770 72,690 7,796 101,071
NET BOOK VALUE
At 28 November 2023 2,870 899 51,701 1,046 56,516
At 28 November 2022 4,282 1,342 64,626 1,561 71,811

Included within motor vehicles is a vehicle held under hire purchase. at the balance sheet date the net book value was £43,244 (2022 - £54,055), with depreciation charged at £10,811 (2022 - £13,514).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 108,288 576

SSV Investments Trading Limited (Registered number: 10485128)

Notes to the Financial Statements - continued
for the Year Ended 28 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 6,318 6,318
Trade creditors 63,464 77,085
Amounts owed to group undertakings 11,772,817 10,736,135
Social security and other taxes 49,686 99,367
Other creditors 57,976 25,694
Directors' current accounts 5,273 16,847
Accrued expenses 80,688 78,767
12,036,222 11,040,213

Included within the balance owed to group undertaking is an amount of £232,708 (2022 - £285,057) which relates to the calculation of the transfer pricing adjustment.

the hire purchase contract is secured against the asset to which it relates.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 40,522 46,840

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mrs J M Butler FCA (Senior Statutory Auditor)
for and on behalf of Butler & Co Audit Limited

10. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under FRS 102 from disclosing any transactions and balances as they are a wholly owned subsidiary.

11. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is SSV Investments Limited, a company incorporated in the British Virgin Islands. Its registered office is Craigmuir Chambers, P.O. Box 71, Road Town, Tortola, British Virgin Islands.

In the opinion of the director, there is no ultimate controlling party.