V7 Cap1 (Bristol) Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12051562 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

V7 CAP1 (BRISTOL) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Z P Veasey

C J Hunt

M T Leach

W J Killick

REGISTERED OFFICE:

55 Loudoun Road

London

NW8 0DL

REGISTERED NUMBER:

12051562 (England and Wales)

ACCOUNTANTS:

MGR SD Limited

Chartered Accountants

55 Loudoun Road

London

NW8 0DL

FIXED ASSETS

Investment property

4

2,310,000

2,310,000

CURRENT ASSETS

Debtors

5

122,200

93,547

Cash at bank

111,604

101,269

233,804

194,816

CREDITORS

Amounts falling due within one year

6

(941,793

)

(1,671,586

)

NET CURRENT LIABILITIES

(707,989

)

(1,476,770

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,602,011

833,230

CREDITORS

Amounts falling due after more than one year

7

(1,387,202

)

(600,000

)

PROVISIONS FOR LIABILITIES

9

(40,795

)

(44,295

)

NET ASSETS

174,014

188,935

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

295,184

295,184

Retained earnings

(121,270

)

(106,349

)

SHAREHOLDERS' FUNDS

174,014

188,935

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 14 March 2024 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 year 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 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.

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 year was 4 (2022 - 4 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2023

and 31 December 2023

2,310,000

NET BOOK VALUE

At 31 December 2023

2,310,000

At 31 December 2022

2,310,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.23

31.12.22

£

£

Trade debtors

84,772

72,489

Other debtors

37,428

21,058

122,200

93,547

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.23

31.12.22

£

£

Bank loans and overdrafts

30,000

847,202

Trade creditors

12,585

3,932

Amounts owed to group undertakings

549,900

549,900

Taxation and social security

12,734

10,389

Other creditors

336,574

260,163

941,793

1,671,586

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.23

31.12.22

£

£

Bank loans

787,202

-

Other creditors

600,000

600,000

1,387,202

600,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.23

31.12.22

£

£

Bank loans

817,202

847,202

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

9.	PROVISIONS FOR LIABILITIES

31.12.23

31.12.22

£

£

Deferred tax

40,795

44,295

Deferred

tax

£

Balance at 1 January 2023

44,295

Utilised during year

(3,500

)

Balance at 31 December 2023

40,795

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.23

31.12.22

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Fair

value

reserve

£

At 1 January 2023

and 31 December 2023

295,184

12.	RELATED PARTY DISCLOSURES

The company is controlled by V7 Cap1 LLP and therefore that entity is considered to be a related party. At the balance sheet date the company owed V7 Cap1 LLP £549,900 (2022: £549,900). 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. KH V Lending 302 Limited is also considered to be a related party as it is a related entity to KH V Properties 106 Limited.

At the balance sheet date the company owed KH V Lending 302 Limited £540,000 (2022: £540,000) and V7 Investments Limited £60,000 (2022: £60,000). During the year KH V Lending 302 Limited charged the company interest of £54,000 (2022: £54,000). Also during the year V7 Investments Limited charged the company interest of £6,000 (2022: £6,000).

13.	ULTIMATE CONTROLLING PARTY

The controlling party is V7 Cap1 LLP.

The ultimate controlling party is KH V Properties 106 Limited.