V7 Cap1 (Bristol) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12051562 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

14 JUNE 2019 TO 31 DECEMBER 2019

FOR

V7 CAP1 (BRISTOL) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Z P Veasey

C Hunt

M T Leach

W J Killick

REGISTERED OFFICE:

4 Prince Albert Road

London

NW1 7SN

REGISTERED NUMBER:

12051562 (England and Wales)

ACCOUNTANTS:

Scodie Deyong LLP

Chartered Accountants

4 Prince Albert Road

London

NW1 7SN

FIXED ASSETS

Investment property

4

1,970,522

CURRENT ASSETS

Debtors

5

67,437

Cash at bank

117,940

185,377

CREDITORS

Amounts falling due within one year

6

1,309,405

NET CURRENT LIABILITIES

(1,124,028

)

TOTAL ASSETS LESS CURRENT LIABILITIES

846,494

CREDITORS

Amounts falling due after more than one year

7

878,250

NET LIABILITIES

(31,756

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(31,856

)

SHAREHOLDERS' FUNDS

(31,756

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors and authorised for issue on 15 April 2020 and were signed on its behalf by:

Z P Veasey - Director

1.	STATUTORY INFORMATION

V7 Cap1 (Bristol) Ltd 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

1,970,522

At 31 December 2019

1,970,522

NET BOOK VALUE

At 31 December 2019

1,970,522

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

53,737

Other debtors

13,700

67,437

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

30,000

Trade creditors

1,378

Other creditors

1,278,027

1,309,405

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

878,250

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

908,250

Bank indebtedness is secured by a legal mortgage over the company's investment property.

9.	RELATED PARTY DISCLOSURES

The company is controlled by V7 Cap1 LLP and therefore that entity is considered to be a related party. During

the period under review V7 Cap1 LLP loaned the company £600,000. Interest has not been charged on this loan.

V7 Cap1 LLP is controlled by KH V Properties 106 Limited and V7 Investments Limited and therefore those

companies are also considered to be related parties. During the period KH V Properties 106 Limited loaned the

company £540,000, and charged interest of £14,203. Also during the period V7 Investments Limited loaned the

company £60,000 and charged interest of £1,578.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is V7 Cap1 LLP.

The ultimate controlling party is KH V Properties 106 Limited.