REGISTERED NUMBER:
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CVS FINANCE LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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REGISTERED NUMBER:
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CVS FINANCE LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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CVS FINANCE LIMITED (REGISTERED NUMBER: 05188930) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Certified Accountants' Report | 4 |
CVS FINANCE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Tax Advisers and |
Chartered Certified Accountants |
Broad House |
1 The Broadway |
Old Hatfield |
Herts |
AL9 5BG |
CVS FINANCE LIMITED (REGISTERED NUMBER: 05188930) |
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ABRIDGED BALANCE SHEET |
30TH SEPTEMBER 2019 |
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2019 | 2018 |
£ | £ |
CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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( |
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SHAREHOLDERS' FUNDS |
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( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
behalf by: |
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CVS FINANCE LIMITED (REGISTERED NUMBER: 05188930) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2019 |
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1. | STATUTORY INFORMATION |
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CVS Finance Limited is a
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number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Preparation of consolidated financial statements |
The financial statements contain information about CVS Finance Limited as an individual company and do not contain |
consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the |
Companies Act 2006 from the requirements to prepare consolidated financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added |
tax and other sales taxes. |
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All of the turnover relates to two classes of business- procurement of commercial property finance and insurance |
intermediary. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. |
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. |
Exchange differences are taken into account in arriving at the operating result. |
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Taxation |
The charge or credit for taxation is based on the results for the year as adjusted for disallowable items. Tax deferred or |
accelerated is accounted for on all material timing differences. |
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Current asset investments |
The current asset investments are stated at lower of cost and net realisable value and any gains or losses on disposals are |
recognised in the profit and loss account. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | RELATED PARTY DISCLOSURES |
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CVS Asset Management Ltd |
Parent company of the reporting entity |
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During the year the company paid a dividend of £475,000 (2018 - £111,771) to the parent company. |
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Mayfair Development Finance |
L Pinkney has a controlling interest in related party and is a director in both companies. |
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Included within fee income are amounts invoiced of £900,000 to the related party. |
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5. | ULTIMATE CONTROLLING PARTY |
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Parent & Ultimate Parent Company |
At the balance sheet date 30 September 2019, CVS Asset Management Ltd was regarded by the directors as being the |
immediate and ultimate parent company. Post balance sheet date, on 1 January 2020, Quattro Investments Ltd is regarded by |
the directors as being the immediate and ultimate parent company. |
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Ultimate Controlling Party |
There is no single individual controlling the parent undertaking and therefore the parent company is under the joint control |
of all the directors. |
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
CVS FINANCE LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited |
financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. |
Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the |
Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
statements of CVS Finance Limited for the year ended 30th September 2019 which comprise the Abridged Statement of Income and |
Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of CVS Finance Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CVS Finance Limited and state those matters that we have agreed to state to the Board of Directors of CVS Finance Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that CVS Finance Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of CVS Finance Limited. You consider that CVS Finance Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of CVS Finance Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Tax Advisers and |
Chartered Certified Accountants |
Broad House |
1 The Broadway |
Old Hatfield |
Herts |
AL9 5BG |
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