| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st August 2024 |
| for |
| RVSB Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st August 2024 |
| for |
| RVSB Ltd |
| RVSB Ltd (Registered number: 10343410) |
| Contents of the Financial Statements |
| for the Year Ended 31st August 2024 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2 |
| RVSB Ltd (Registered number: 10343410) |
| Balance Sheet |
| 31st August 2024 |
| 31.8.24 | 31.8.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 | 100 | 100 |
| Non distributable reserve | 9 | 31,944 | 33,844 |
| Retained earnings | 9 | 47,602 | 56,868 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| RVSB Ltd (Registered number: 10343410) |
| Notes to the Financial Statements |
| for the Year Ended 31st August 2024 |
| 1. | COMPANY INFORMATION |
| RVSB Ltd is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue from the provision of professional services is recognised on delivery of the service. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| Going concern |
| At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the company directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| RVSB Ltd (Registered number: 10343410) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st August 2024 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st September 2023 |
| Revaluations | (10,000 | ) |
| At 31st August 2024 |
| NET BOOK VALUE |
| At 31st August 2024 |
| At 31st August 2023 |
| Investment property comprises of one residential property. In accordance with FRS102 1A, the costs of obtaining an external valuation were considered to be undue for the company. As such, fair value has been estimated by the directors on the basis of average rental yield. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Deferred tax asset |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Mortgage falling due within |
| one year |
| Tax |
| Directors' current accounts | 102,958 | 102,958 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Mortgage falling due after |
| more than one year |
| The investment property with an initial cost of £342,039 has been pledged in favour of Charter Court Financial Services Limited to secure borrowings of the company. The company is not allowed to pledge this asset as security for other borrowings or to sell it to another entity until this charge is settled. The company has a mortgage deed from the 13 March 2017 in regard to the property. |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.24 | 31.8.23 |
| value: | £ | £ |
| Ordinary | 1 | 100 | 100 |
| RVSB Ltd (Registered number: 10343410) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st August 2024 |
| 9. | RESERVES |
| Non |
| Retained | distributable |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1st September 2023 | 88,812 |
| Deficit for the year | ( |
) | ( |
) |
| At 31st August 2024 | 79,546 |
| A deferred tax movement of £1,900 relating to the fair value adjustment of investment property is included within non distributable reserves. |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31st August 2024 and 31st August 2023: |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) | ( |
) |
| The loans are repayable on demand and no interest was charged during the year. |
| 11. | CONTROL |
| The ultimate controlling parties are Dr V Bhatia and Ms R Seth by virtue of their 50:50 holding of the voting share capital. |