Consolidated African Ventures (UK) Limited 04670474 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is is that of property rental. Digita Accounts Production Advanced 6.30.9574.0 true true 04670474 2023-04-01 2024-03-31 04670474 2024-03-31 04670474 core:CurrentFinancialInstruments 2024-03-31 04670474 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04670474 core:FurnitureFittingsToolsEquipment 2024-03-31 04670474 bus:SmallEntities 2023-04-01 2024-03-31 04670474 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04670474 bus:FilletedAccounts 2023-04-01 2024-03-31 04670474 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04670474 bus:RegisteredOffice 2023-04-01 2024-03-31 04670474 bus:Director6 2023-04-01 2024-03-31 04670474 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04670474 core:ComputerEquipment 2023-04-01 2024-03-31 04670474 core:FurnitureFittings 2023-04-01 2024-03-31 04670474 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04670474 countries:EnglandWales 2023-04-01 2024-03-31 04670474 2023-03-31 04670474 core:FurnitureFittingsToolsEquipment 2023-03-31 04670474 2022-04-01 2023-03-31 04670474 2023-03-31 04670474 core:CurrentFinancialInstruments 2023-03-31 04670474 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04670474 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 04670474

Consolidated African Ventures (UK) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Consolidated African Ventures (UK) Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Consolidated African Ventures (UK) Limited

(Registration number: 04670474)
Statement of Financial Position as at 31 March 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

407

47

Investment property

5

520,000

535,000

 

520,407

535,047

Current assets

 

Cash at bank and in hand

 

8,463

18,015

Creditors: Amounts falling due within one year

6

(654,145)

(670,908)

Net current liabilities

 

(645,682)

(652,893)

Total assets less current liabilities

 

(125,275)

(117,846)

Provisions for liabilities

(40,633)

(44,383)

Net liabilities

 

(165,908)

(162,229)

Capital and reserves

 

Called up share capital

1

1

Fair value reserve

121,898

133,148

Retained earnings

(287,807)

(295,378)

Shareholders' deficit

 

(165,908)

(162,229)

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Consolidated African Ventures (UK) Limited

(Registration number: 04670474)
Statement of Financial Position as at 31 March 2024

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 director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 10 January 2025
 

.........................................
Mr RG Moore
Director

 

Consolidated African Ventures (UK) Limited

Notes to the Unaudited 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:
C/o Beever and Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL
England

These financial statements were authorised for issue by the director on 10 January 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises 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.

 

Consolidated African Ventures (UK) Limited

Notes to the Unaudited 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 statement of financial position 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

Fixtures and fittings

25% Straight line

Computer equipment

25% Straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use 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.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Consolidated African Ventures (UK) Limited

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

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 income statement 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 the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

4,012

4,012

Additions

514

514

At 31 March 2024

4,526

4,526

Depreciation

At 1 April 2023

3,965

3,965

Charge for the year

154

154

At 31 March 2024

4,119

4,119

Carrying amount

At 31 March 2024

407

407

At 31 March 2023

47

47

 

Consolidated African Ventures (UK) Limited

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

5

Investment properties

2024
£

At 1 April

535,000

Fair value adjustments

(15,000)

At 31 March

520,000

The investment properties were revalued on 31 March 2024 by the director, RG Moore, who is internal to the company. The basis of this valuation was to record to the current market value of the properties held. These assets have a current value of £520,000 (2023: £535,000) and a carrying amount of historical cost of £357,470 (2023: £357,470). The depreciation on this is historical cost is £nil (2023: £nil).

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

6,955

10,042

Accruals and deferred income

 

4,765

2,340

Other creditors

 

642,425

658,526

 

654,145

670,908

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

6,955

10,042