Anyvan Limited
Annual Report and Financial Statements
For the year ended 31 March 2020
Company Registration No. 06837274 (England and Wales)
Anyvan Limited
Company Information
Directors
A Elphinstone
Pathiq Trivedi
(Appointed 7 October 2020)
Company number
06837274
Registered office
5th Floor The Triangle
5-17 Hammersmith Grove
London
United Kingdom
W6 0LG
Auditor
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Business address
5th Floor The Triangle
5-17 Hammersmith Grove
London
United Kingdom
W6 0LG
Anyvan Limited
Contents
Page
Directors' report
1 - 2
Independent auditor's report
3 - 5
Statement of income and retained earnings
6
Balance sheet
7
Notes to the financial statements
8 - 18
Anyvan Limited
Directors' Report
For the year ended 31 March 2020
Page 1
The directors present their annual report and financial statements for the year ended 31 March 2020.
Principal activities
The principal activity of the company continued to be that of delivery transportation and removal services.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
A Elphinstone
Pathiq Trivedi
(Appointed 7 October 2020)
Results and dividends
The results for the year are set out on page 6.
Auditor
Moore Kingston Smith LLP were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Anyvan Limited
Directors' Report (Continued)
For the year ended 31 March 2020
Page 2
On behalf of the board
A Elphinstone
Director
30 March 2021
Anyvan Limited
Independent Auditor's Report
To the Members of Anyvan Limited
Page 3
Opinion
We have audited the financial statements of Anyvan Limited
(the 'company')
for the year ended 31 March 2020 which comprise the Statement of Income and Retained Earnings, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102
The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the company's affairs as at 31 March 2020 and of its profit for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard
, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
-
the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
-
the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue
.
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the
financial statements
does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Anyvan Limited
Independent Auditor's Report (Continued)
To the Members of Anyvan Limited
Page 4
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit
:
-
the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Directors' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie
d
material misstatements in the Directors' Report
.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of directors' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
the company is not entitled to claim exemption in preparing a strategic report due to it being a member of an ineligible group.
Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Anyvan Limited
Independent Auditor's Report (Continued)
To the Members of Anyvan Limited
Page 5
As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company’s internal control.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
-
Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken
for no purpose other than to draw to the attention of
the company’s members those matters we are required to
include
in an auditor's report
addressed to them.
To the fullest extent permitted by law, we do not accept or assume responsibility to
any party
other than the company and the company’s members as a body, for our work, for this report, or for the opinions we have formed.
Ian Graham (Senior Statutory Auditor)
for and on behalf of Moore Kingston Smith LLP
30 March 2021
Chartered Accountants
Statutory Auditor
Charlotte Building
17 Gresse Street
London
W1T 1QL
Anyvan Limited
Statement of Income and Retained Earnings
For the year ended 31 March 2020
Page 6
2020
2019
Notes
£
£
Turnover
3
14,127,055
12,185,424
Cost of sales
(2,068,767)
(1,807,485)
Gross profit
12,058,288
10,377,939
Administrative expenses
(10,660,524)
(11,845,348)
Other operating income
508,174
526,813
Operating profit/(loss)
4
1,905,938
(940,596)
Interest receivable and similar income
6
791
-
Profit/(loss) before taxation
1,906,729
(940,596)
Taxation
7
588,644
436,694
Profit/(loss) for the financial year
2,495,373
(503,902)
Retained earnings brought forward
(5,218,338)
(4,714,436)
Retained earnings carried forward
(2,722,965)
(5,218,338)
The Profit And Loss Account has been prepared on the basis that all operations are continuing operations.
Anyvan Limited
Balance Sheet
As at 31 March 2020
Page 7
2020
2019
Notes
£
£
£
£
Fixed assets
Intangible assets
8
995,171
-
Tangible assets
9
77,623
139,551
1,072,794
139,551
Current assets
Debtors
11
2,732,785
2,107,730
Cash at bank and in hand
794,022
265,688
3,526,807
2,373,418
Creditors: amounts falling due within one year
12
(7,322,466)
(4,395,937)
Net current liabilities
(3,795,659)
(2,022,519)
Total assets less current liabilities
(2,722,865)
(1,882,968)
Creditors: amounts falling due after more than one year
13
-
(3,335,270)
Net liabilities
(2,722,865)
(5,218,238)
Capital and reserves
Called up share capital
16
100
100
Profit and loss reserves
(2,722,965)
(5,218,338)
Total equity
(2,722,865)
(5,218,238)
The financial statements were approved by the board of directors and authorised for issue on 30 March 2021 and are signed on its behalf by:
A Elphinstone
Director
Company Registration No. 06837274
Anyvan Limited
Notes to the Financial Statements
For the year ended 31 March 2020
Page 8
1
Accounting policies
Company information
Anyvan Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
5th Floor The Triangle, 5-17 Hammersmith Grove, London, United Kingdom, W6 0LG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
FRS 102 allows for a qualifying entity certain disclosure exemptions, subject to certain conditions, which have been complied with, including notification of, and no objection to, the use of exemptions by the Company's shareholders.
The company has taken advantage of the following exemptions:
-
The requirements of Section 7 Statement of Cash Flows and Section 3 Financial Statement Presentation paragraph 3.17(d).
-
The requirement of Section 33 Related Party Disclosures paragraph to disclose key management personnel compensation
-
The exemption available under Section 33 Related Party Disclosures paragraph 33.1A not to disclose transactions with other wholly owned members of the group.
Anyvan Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2020
1
Accounting policies
(Continued)
Page 9
1.2
Going concern
The
true
company
made a
profit of £2,495,373 (2019: £503,902 loss)
during the year and had net liabilities of £
2,722,865 (2019: £5,218,238)
as at 31
March 2020
. The director
s
ha
ve prepared detailed forecasts for the company's future cash requirements and is satisfied that the company has sufficient available cash to allow it to pay all its creditors as they fall due, for a period of at least twelve months from the date of approval of the financial statements. If required the directors believes the company can make cost savings to reduce the cash outflows of the business in order to ensure the company remains a going concern.
Furthermore, the ultimate controlling party has confirmed they will provide sufficient financial support to Anyvan Holdings Limited and its subsidiary undertakings, of which Anyvan Limited is one, by not seeking repayment of any of the amounts owed to it for a period of at least twelve months from the date of approval of these financial statements. This support has been confirmed in a signed letter of support.
Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
As a result of this, a
t the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue
in business and meet its liabilities as they fall due
for the foreseeable future.
The directors have considered the potential impact of the COVID-19, and the various measures taken to contain it, on the operations of the business in the near future. Despite some initial impact after the period end, the company has continued to trade profitably. The directors will continue to monitor the government announcements, and in the event income is impacted significantly the will consider cost cutting measures in order to ensure the long term viability of the business.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for
delivery transportation and removal
services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.4
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated
.
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date if the fair value can be measured reliably.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development costs
4 years straight line
Anyvan Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2020
1
Accounting policies
(Continued)
Page 10
1.6
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.7
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.8
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9
Financial instruments
Basic financial instruments are held at cost. The company has no other financial instruments or basic financial instruments measured at fair value.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Anyvan Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2020
1
Accounting policies
(Continued)
Page 11
1.11
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.12
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.13
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.14
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
1.15
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
Anyvan Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2020
Page 12
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are
as follows.
Amortisation
The annual amortisation charge for development costs is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, and economic utilisation. See note 8 for the carrying amount of the development costs.
Recoverability of intercompany debtors
The recoverability of £1,858,130 of the intercompany debtors shown in Note 11 is a key area of estimation. Whilst the directors don't expect receipt of these balances in the short term, they do expect the group companies to become profitable in the future. Therefore the directors do not believe a provision of the intercompany balance is currently required.
3
Turnover and other revenue
2020
2019
£
£
Turnover analysed by class of business
Services
14,127,055
12,185,424
2020
2019
£
£
Other significant revenue
Management fees receivable
508,174
526,813
2020
2019
£
£
Turnover analysed by geographical market
United Kingdom
14,127,055
12,185,424
Anyvan Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2020
Page 13
4
Operating profit/(loss)
2020
2019
Operating profit/(loss) for the year is stated after charging:
£
£
Exchange losses
28,835
1,677
Fees payable to the company's auditor for the audit of the company's financial statements
10,000
-
Depreciation of owned tangible fixed assets
22,227
37,400
Loss on disposal of tangible fixed assets
58,535
73,671
Operating lease charges
383,632
368,933
5
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
135
141
Their aggregate remuneration comprised:
2020
2019
£
£
Wages and salaries
3,325,031
3,962,096
Social security costs
314,855
387,434
Pension costs
74,229
65,670
3,714,115
4,415,200
6
Interest receivable and similar income
2020
2019
£
£
Interest income
Interest on bank deposits
791
-
7
Taxation
2020
2019
£
£
Current tax
UK corporation tax on profits for the current period
-
(230,795)
Adjustments in respect of prior periods
(88,509)
(205,899)
Total current tax
(88,509)
(436,694)
Anyvan Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2020
7
Taxation
(Continued)
Page 14
Deferred tax
Origination and reversal of timing differences
(500,135)
-
Total tax credit
(588,644)
(436,694)
The actual credit for the year can be reconciled to the expected charge/(credit) for the year based on the profit or loss and the standard rate of tax as follows:
2020
2019
£
£
Profit/(loss) before taxation
1,906,729
(940,596)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 19.00% (2019: 19.00%)
362,279
(178,713)
Tax effect of expenses that are not deductible in determining taxable profit
22,751
21,718
Unutilised tax losses carried forward
-
163,681
Change in unrecognised deferred tax assets
(500,135)
-
Permanent capital allowances in excess of depreciation
(3,958)
(6,686)
Research and development tax credit
(434,889)
(230,795)
Other permanent differences
53,817
-
Research and development tax credit in respect of prior year
(88,509)
(205,899)
Taxation credit for the year
(588,644)
(436,694)
8
Intangible fixed assets
Development costs
£
Cost
At 1 April 2019
-
Additions - separately acquired
995,171
At 31 March 2020
995,171
Amortisation and impairment
At 1 April 2019 and 31 March 2020
-
Carrying amount
At 31 March 2020
995,171
At 31 March 2019
-
Anyvan Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2020
Page 15
9
Tangible fixed assets
Plant and machinery etc
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2019
12,627
11,358
194,881
218,866
Additions
1,276
1,900
15,658
18,834
Disposals
-
-
(114,402)
(114,402)
At 31 March 2020
13,903
13,258
96,137
123,298
Depreciation and impairment
At 1 April 2019
1,894
1,704
75,717
79,315
Depreciation charged in the year
1,942
1,751
18,534
22,227
Eliminated in respect of disposals
-
-
(55,867)
(55,867)
At 31 March 2020
3,836
3,455
38,384
45,675
Carrying amount
At 31 March 2020
10,067
9,803
57,753
77,623
At 31 March 2019
10,733
9,654
119,164
139,551
10
Subsidiaries
Details of the company's subsidiaries at 31 March 2020 are as follows:
Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Anyvan GmbH
Dunckerstraße 19, 10437 Berlin, Germany
Delivery transportation and removal services
Ordinary
100.00
0
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
£
£
Anyvan GmbH
(42,147)
(601,809)
Anyvan Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2020
Page 16
11
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
-
206,270
Corporation tax recoverable
88,881
230,795
Amounts due from group undertakings
1,858,130
1,289,833
Other debtors
212,097
220,381
Prepayments and accrued income
73,542
160,451
2,232,650
2,107,730
Deferred tax asset (note 14)
500,135
-
2,732,785
2,107,730
12
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
786,748
1,461,137
Amounts due to group undertakings
4,977,906
1,936,506
Other taxation and social security
903,289
703,041
Other creditors
416,180
122,149
Accruals and deferred income
238,343
173,104
7,322,466
4,395,937
13
Creditors: amounts falling due after more than one year
2020
2019
£
£
Amounts due to group undertakings
-
3,335,270
Anyvan Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2020
Page 17
14
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Assets
Assets
2020
2019
Balances:
£
£
Tax losses
500,135
-
2020
Movements in the year:
£
Liability at 1 April 2019
-
Credit to profit or loss
(500,135)
Liability/(Asset) at 31 March 2020
(500,135)
The deferred tax asset set out above is expected to reverse within 12 months and relates to the utilisation of tax losses against future expected profits of the same period.
15
Retirement benefit schemes
2020
2019
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
74,229
65,670
The company operates a defined contribution pension scheme for all qualifying employees.
The assets of the scheme are held separately from those of the company in an independently administered fund. The liability outstanding at the year end was £18,298 (2019: £15,743).
16
Share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of 10p each
100
100
100
100
Anyvan Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2020
Page 18
17
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2020
2019
£
£
Within one year
308,180
308,180
Between two and five years
651,138
166,568
959,318
474,748
18
Related party transactions
The company had related party transactions with wholly owned subsidiaries and the parent undertaking, and as such has taken advantage of the exemption permitted under section 33.1 A not to provide disclosures of transactions entered into with other wholly owned members of the group.
During the year, the company reclassified historic related-party loan balances and re-allocated £134,408 to the director's loan account as the director had previously advanced these funds to the company. At the year end an amount of £127,655 (2019: £56,865) was owed to the director, Angus Elphinston, included within other creditors.
19
Controlling party
The immediate parent company is Anyvan Holdings Limited whose address is 5th Floor The Triangle, 5 - 17 Hammersmith Grove, London, W6 0LG.
The ultimate controlling party is Celeres Investments Limited, a company registered in the British Virgin Islands. Celeres Investments Limited is jointly owned by Mrs Janjri Trivedi and Mr Jaymin Trivedi.
The smallest and largest group of undertakings for which group accounts will be drawn up is that headed by Anyvan Holdings Limited, whose registered address is 5th Floor The Triangle, 5 - 17 Hammersmith Grove, London, W6 0LG, and copies of the accounts are available from Companies House, Crown Way, Cardiff,
CF14 3UZ
.
The directors do not consider there to be a single controlling party.
2020-03-31
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