Registered number
13281535
SPV 08 Limited
Report and Accounts
for the year ended 30 September 2024
SPV 08 Limited
Report and accounts
Contents
Page
Company information 1
Director's report 2
Statement of director's responsibilities 3
Independent auditor's report 4 to 5
Profit and loss account 6
Statement of comprehensive income 7
Balance sheet 8
Statement of changes in equity 9
Notes to the accounts 10 to 15
SPV 08 Limited
Company Information
Director
Pakkirisamy Bhoopalan Natarajan
Auditors
DeanCoopers
Suite 4, Cranbrook House
61 Cranbrook Road
Ilford
Essex
IG1 4PG
Registered office
Cranbrook House
61 Cranbrook Road
Ilford
Essex
IG1 4PG
Registered number
13281535
SPV 08 Limited
Registered number: 13281535
Director's Report
The director presents his report and accounts for the year ended 30 September 2024.
Principal activities
The company's principal activity during the year continued to be that of renting of an investment property.
Directors
The following persons served as directors during the year:
Pakkirisamy Bhoopalan Natarajan
Disclosure of information to auditors
The director confirms that:
so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 23 April 2025 and signed on its behalf.
Pakkirisamy Bhoopalan Natarajan
Director
SPV 08 Limited
Statement of Director's Responsibilities
The director is responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the director to prepare accounts for each financial year. Under that law the director has elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the director is required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the accounts comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
SPV 08 Limited
Independent auditor's report
to the member of SPV 08 Limited
Opinion
We have audited the accounts of SPV 08 Limited (the 'company') for the year ended 30 September 2024 which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and notes to the accounts, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the accounts:
give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out below, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In accordance with the exemption provided by FRC's Ethical Standard - Provisions Available for Audits of Small Entities, we have prepared and submitted the company’s returns to the tax authorities and assisted with the preparation of the accounts.
Conclusions relating to going concern
In auditing the accounts, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the accounts is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the accounts are authorised for issue.
Other information
The other information comprises the information included in the annual report other than the accounts and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the accounts does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the accounts themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the directors’ report for the financial year for which the accounts are prepared is consistent with the accounts; and
the directors’ report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the accounts are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the accounts in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.
In preparing the accounts, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the accounts
Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these accounts.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the entity’s policies and procedures on compliance with laws and regulations, including documentation of any instances of non-compliance. We obtained an understanding of the entity’s policies and procedures on fraud risks, including knowledge of any actual, suspected or alleged fraud by enquiry of the management and the review of the internal procedures.
A further description of our responsibilities for the audit of the accounts is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Hafiz Khaliq ACA
(Senior Statutory Auditor) Suite 4, Cranbrook House
for and on behalf of 61 Cranbrook Road
DeanCoopers Ilford
Statutory Auditor Essex
23 April 2025 IG1 4PG
SPV 08 Limited
Profit and Loss Account
for the year ended 30 September 2024
2024 2023
£ £
Turnover 25,644 25,641
Administrative expenses (4,996) (6,997)
Other operating income - 19
Operating profit 20,648 18,663
Interest payable (18,704) (18,704)
Profit/(loss) before taxation 1,944 (41)
Tax on profit/(loss) (519) (239)
Profit/(loss) for the financial year 1,425 (280)
Continuing operations
None of the company's activities were acquired or discontinued during the current year or previous year.
Total recognised gains and losses
The company has no recognised gains and losses other than the profits for the current year or previous year.
SPV 08 Limited
Statement of comprehensive income
for the year ended 30 September 2024
2024 2023
£ £
Profit/(loss) for the financial year 1,425 (280)
Other comprehensive income
Total comprehensive income for the year 1,425 (280)
SPV 08 Limited
Registered number: 13281535
Balance Sheet
As at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 670,380 670,380
Current assets
Debtors 4 2,294 -
Cash at bank and in hand 21,298 13,285
23,592 13,285
Creditors: amounts falling due within one year 5 (211,719) (202,837)
Net current liabilities (188,127) (189,552)
Total assets less current liabilities 482,253 480,828
Creditors: amounts falling due after more than one year 6 (479,588) (479,588)
Net assets 2,665 1,240
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,565 1,140
Shareholder's funds 2,665 1,240
The accounts were approved and authorised for issue by the Board.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Pakkirisamy Bhoopalan Natarajan
Director
Approved by the board on 23 April 2025
SPV 08 Limited
Statement of Changes in Equity
for the year ended 30 September 2024
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 October 2022 100 - - 1,420 1,520
Loss for the financial year (280) (280)
At 30 September 2023 100 - - 1,140 1,240
At 1 October 2023 100 - - 1,140 1,240
Profit for the financial year 1,425 1,425
At 30 September 2024 100 - - 2,565 2,665
SPV 08 Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from renting the investment property. Turnover is recognised on accrual basis. Advanced monthly rental invoices are issued to the tenants and recognised as revenue.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets (which include property furniture and equipments etc.) are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise; and no depreciation is provided in respect of investment properties applying the fair value model.

Investment property fair value is determined by the director based on his understanding of property market conditions and derived from current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific assets.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
Functional and presentation currency
The financial statements of the company are measured and presented in the currency of the primary economic environment in which the company operates, the functional currency. The financial statements are presented in Pound sterling (£), which is the company’s functional currency.
Going concern
The financial statements have been prepared on the basis that the company will receive continued financial support from bank, the parent company and the director and has adequate resources to continue in operational existence for the foreseeable future.
Employee benefits
Short-term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
PASE Exemption
DeanCoopers provide other accountancy services to SPV 08 Limited as well and have relied on PASE exemption.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investment property
2024
£
Cost
At 1 October 2023 670,380
At 30 September 2024 670,380
The company's investment property was valued by the director based on his understanding of property market conditions and derived from current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific assets.
4 Debtors 2024 2023
£ £
Trade debtors 2,137 -
Other debtors 157 -
2,294 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,564 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 208,636 201,636
Taxation and social security costs 519 1,201
211,719 202,837
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 479,588 479,588
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 479,588 479,588
Secured loans 479,588 479,588
The loans are secured on investment property.
8 Events after the reporting date
There were no significant post balance sheet events.
9 Other financial commitments
There were no operating lease commitments.
10 Related party transactions
SPV 08 Limited is a wholly owned subsidiary of Chosen Care Group Limited (the parent company). The registered office address for the parent is: 61 Cranbrook Road, Ilford, Essex, IG1 4PG.

At the balance sheet date, the company owed £208,636 (30/09/23 - £201,636) to Chosen Care Group Limited, which is an interest free loan, repayable on demand.



11 Ultimate controlling party
The company is wholly owned subsidiary of Chosen Care Group Limited, whose 100% shares are held by Pakkirisamy Bhoopalan Natarajan.
12 Other information
SPV 08 Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cranbrook House
61 Cranbrook Road
Ilford
Essex
IG1 4PG
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