SSV Investments Trading Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10485128 (England and Wales)

Financial Statements

for the Period

1 December 2019 to 28 November 2020

for

SSV Investments Trading Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Seth

J S Varkey

REGISTERED OFFICE:

Oakwood Estate

Chertsey Road

Windlesham

Surrey

GU20 6HY

REGISTERED NUMBER:

10485128 (England and Wales)

AUDITORS:

Butler & Co Audit Limited

Chartered Accountants and Registered Auditors

Bennett House

The Dean

Alresford

Hampshire

SO24 9BH

FIXED ASSETS

Tangible assets

4

32,524

62,277

CURRENT ASSETS

Debtors

5

73,245

53,377

Cash at bank

-

45,268

73,245

98,645

CREDITORS

Amounts falling due within one year

6

9,702,563

8,221,206

NET CURRENT LIABILITIES

(9,629,318

)

(8,122,561

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,596,794

)

(8,060,284

)

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

(9,596,795

)

(8,060,285

)

SHAREHOLDERS' FUNDS

(9,596,794

)

(8,060,284

)

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 23 December 2021 and were signed on its behalf by:

J S Varkey - Director

1.	STATUTORY INFORMATION

SSV Investments Trading Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Financial instruments

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.

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.

Finance costs

Finance costs are charge to the 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors consider the going concern basis to be appropriate having paid due regard to the company's projected results during the twelve months from the date of the financial statements are approved and the anticipated cash flows, availability of support from its immediate parent undertaking SSV Investments Limited (including them not requesting any payments due to it by the company whilst any other creditors of the company remain unpaid, except to the extent that the company is able to discharge all its debts and liabilities as they fall due) and any other mitigating actions that can be taken during the period.

Whilst a letter of support has been received from SSV Investments Limited and the director Mr J Varkey, the company has a material uncertainty in relation to its going concern status as a result of its reliance on the support of SSV Investments Limited and Mr J Varkey.

Whilst Covid-19 has impacted the ability of the Company to host events, it is not anticipated to have a material impact on the ability of SSV Investment Trading Limited's to continue as a going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 19 (2019 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 December 2019

13,184

6,669

100,260

8,842

128,955

Additions

4,501

-

-

-

4,501

Disposals

-

-

(43,438

)

-

(43,438

)

At 28 November 2020

17,685

6,669

56,822

8,842

90,018

DEPRECIATION

At 1 December 2019

3,446

2,206

57,375

3,651

66,678

Charge for period

4,700

1,473

4,130

1,713

12,016

Eliminated on disposal

-

-

(21,200

)

-

(21,200

)

At 28 November 2020

8,146

3,679

40,305

5,364

57,494

NET BOOK VALUE

At 28 November 2020

9,539

2,990

16,517

3,478

32,524

At 30 November 2019

9,738

4,463

42,885

5,191

62,277

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

20,040

-

Prepayments

53,205

53,377

73,245

53,377

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

40,688

-

Trade creditors

383,405

193,919

Amounts owed to group undertakings

8,981,395

7,898,127

Social security and other taxes

172,592

23,323

Other creditors

21,771

4,836

Accrued expenses

102,712

101,001

9,702,563

8,221,206

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1

Ordinary

£1

1

1

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mrs J M Butler FCA (Senior Statutory Auditor)

for and on behalf of Butler & Co Audit Limited

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under FRS 102 from disclosing any transactions and balances as they are a wholly owned subsidiary.

10.	ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is SSV Investments Limited, a company incorporated in the British Virgin Islands. Its registered office is Craigmuir Chambers, P.O. Box 71, Road Town, Tortola, British Virgin Islands.

In the opinion of the director, there is no ultimate controlling party.

11.

COVID-19

Whilst Covid-19 impacted the ability of the Company to host events, it did not directly result in any staff being furloughed, or any support being provided from the various grants and schemes available at the time.