Caseware UK (AP4) 2024.0.164 2024.0.164 2025-02-282025-02-28false2024-03-01falseNo description of principal activity33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06806847 2024-03-01 2025-02-28 06806847 2023-03-01 2024-02-29 06806847 2025-02-28 06806847 2024-02-29 06806847 c:Director1 2024-03-01 2025-02-28 06806847 d:Buildings 2024-03-01 2025-02-28 06806847 d:Buildings 2025-02-28 06806847 d:Buildings 2024-02-29 06806847 d:Buildings d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 06806847 d:FurnitureFittings 2024-03-01 2025-02-28 06806847 d:FurnitureFittings 2025-02-28 06806847 d:FurnitureFittings 2024-02-29 06806847 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 06806847 d:OfficeEquipment 2024-03-01 2025-02-28 06806847 d:OfficeEquipment 2025-02-28 06806847 d:OfficeEquipment 2024-02-29 06806847 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 06806847 d:OwnedOrFreeholdAssets 2024-03-01 2025-02-28 06806847 d:CopyrightsPatentsTrademarksServiceOperatingRights 2025-02-28 06806847 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-02-29 06806847 d:FreeholdInvestmentProperty 2025-02-28 06806847 d:FreeholdInvestmentProperty 2024-02-29 06806847 d:CurrentFinancialInstruments 2025-02-28 06806847 d:CurrentFinancialInstruments 2024-02-29 06806847 d:Non-currentFinancialInstruments 2025-02-28 06806847 d:Non-currentFinancialInstruments 2024-02-29 06806847 d:CurrentFinancialInstruments d:WithinOneYear 2025-02-28 06806847 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 06806847 d:Non-currentFinancialInstruments d:AfterOneYear 2025-02-28 06806847 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 06806847 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2025-02-28 06806847 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 06806847 d:ShareCapital 2025-02-28 06806847 d:ShareCapital 2024-02-29 06806847 d:RetainedEarningsAccumulatedLosses 2025-02-28 06806847 d:RetainedEarningsAccumulatedLosses 2024-02-29 06806847 c:FRS102 2024-03-01 2025-02-28 06806847 c:AuditExempt-NoAccountantsReport 2024-03-01 2025-02-28 06806847 c:FullAccounts 2024-03-01 2025-02-28 06806847 c:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 06806847 2 2024-03-01 2025-02-28 06806847 e:PoundSterling 2024-03-01 2025-02-28 iso4217:GBP xbrli:pure

Registered number: 06806847









ASVINA (UK) LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2025

 
ASVINA (UK) LTD
REGISTERED NUMBER: 06806847

BALANCE SHEET
AS AT 28 FEBRUARY 2025

28 February
29 February
2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 5 
249,695
253,976

Investment property
 6 
855,346
855,346

  
1,105,041
1,109,322

Current assets
  

Stocks
  
374,008
291,915

Debtors: amounts falling due within one year
 7 
929,581
944,122

Cash at bank and in hand
 8 
57,941
13,932

  
1,361,530
1,249,969

Creditors: amounts falling due within one year
 9 
(1,249,258)
(1,084,524)

Net current assets
  
 
 
112,272
 
 
165,445

Total assets less current liabilities
  
1,217,313
1,274,767

Creditors: amounts falling due after more than one year
 10 
(594,912)
(673,463)

  

Net assets
  
622,401
601,304


Capital and reserves
  

Called up share capital 
  
2,000
2,000

Profit and loss account
  
620,401
599,304

  
622,401
601,304


Page 1

 
ASVINA (UK) LTD
REGISTERED NUMBER: 06806847
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P M Kunwardia
Director
Date: 23 July 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
ASVINA (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1.


General information

Asvina (UK) Ltd is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Unit 7 Wilmington Close, Watford, England, WD18 0FQ.
The company's principal activity is that of wholesale grocery distributor of food and beverages.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
ASVINA (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to 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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 4

 
ASVINA (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the 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 asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
ASVINA (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

 
2.13

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, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

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.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2024 - 3).

Page 6

 
ASVINA (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

4.


Intangible assets






Trademarks

£



Cost


At 1 March 2024
115,000



At 28 February 2025

115,000



Amortisation


At 1 March 2024
115,000



At 28 February 2025

115,000



Net book value



At 28 February 2025
-



At 29 February 2024
-



Page 7

 
ASVINA (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

5.


Tangible fixed assets







Freehold property
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2024
265,646
16,042
33,476
315,164


Additions
-
-
4,826
4,826


Disposals
-
-
(390)
(390)



At 28 February 2025

265,646
16,042
37,912
319,600



Depreciation


At 1 March 2024
22,210
12,184
26,793
61,187


Charge for the year on owned assets
5,313
964
2,539
8,816


Disposals
-
-
(98)
(98)



At 28 February 2025

27,523
13,148
29,234
69,905



Net book value



At 28 February 2025
238,123
2,894
8,678
249,695



At 29 February 2024
243,435
3,858
6,683
253,976

Page 8

 
ASVINA (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

6.


Investment property





Freehold investment property

£



Valuation


At 1 March 2024
855,346



At 28 February 2025
855,346


Comprising


Cost
855,346

At 28 February 2025
855,346

The 2025 valuations were made by the directors, on an open market value for existing use basis.





7.


Debtors

28 February
29 February
2025
2024
£
£


Trade debtors
866,305
817,180

Other debtors
54,168
107,654

Prepayments and accrued income
9,108
19,288

929,581
944,122



8.


Cash and cash equivalents

28 February
29 February
2025
2024
£
£

Cash at bank and in hand
57,941
13,932

Less: bank overdrafts
(456,250)
(549,715)

(398,309)
(535,783)


Page 9

 
ASVINA (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

9.


Creditors: Amounts falling due within one year

28 February
29 February
2025
2024
£
£

Bank overdrafts
456,250
549,715

Bank loans
100,784
74,257

Trade creditors
455,608
206,438

Corporation tax
222,404
237,694

Other taxation and social security
1,803
2,927

Other creditors
7,789
8,875

Accruals and deferred income
4,620
4,618

1,249,258
1,084,524



10.


Creditors: Amounts falling due after more than one year

28 February
29 February
2025
2024
£
£

Bank loans
594,912
673,463

594,912
673,463


The following liabilities were secured:
There is a fixed and floating charge over the freehold property in favour of the company's bankers.

Page 10

 
ASVINA (UK) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

11.


Loans


Analysis of the maturity of loans is given below:


28 February
29 February
2025
2024
£
£

Amounts falling due within one year

Bank loans
100,784
74,257


100,784
74,257

Amounts falling due 1-2 years

Bank loans
594,912
673,463


594,912
673,463



695,696
747,720


 
Page 11