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REGISTERED NUMBER: SC549375 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

MVP 5 LTD

MVP 5 LTD (REGISTERED NUMBER: SC549375)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

MVP 5 LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2021







DIRECTOR: S Feeley





REGISTERED OFFICE: 71 Oxford Street
Glasgow
G5 9EF





REGISTERED NUMBER: SC549375 (Scotland)





ACCOUNTANTS: J Gilmour Limited
Certified Accountants
24 Clydeview
Bothwell
Glasgow
Lanarkshire
G71 8NW

MVP 5 LTD (REGISTERED NUMBER: SC549375)

BALANCE SHEET
30 NOVEMBER 2021

30.11.21 30.11.20
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,900,000 2,448,120

CURRENT ASSETS
Debtors 5 32,764 -
Cash at bank 16,082 46,518
48,846 46,518
CREDITORS
Amounts falling due within one year 6 93,708 115,423
NET CURRENT LIABILITIES (44,862 ) (68,905 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,855,138

2,379,215

CREDITORS
Amounts falling due after more than one
year

7

2,465,687

2,465,687
NET ASSETS/(LIABILITIES) 1,389,451 (86,472 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 1,451,880 -
Retained earnings 11 (62,529 ) (86,572 )
SHAREHOLDERS' FUNDS 1,389,451 (86,472 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

MVP 5 LTD (REGISTERED NUMBER: SC549375)

BALANCE SHEET - continued
30 NOVEMBER 2021


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 director and authorised for issue on 24 August 2022 and were signed by:





S Feeley - Director


MVP 5 LTD (REGISTERED NUMBER: SC549375)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021


1. STATUTORY INFORMATION

MVP 5 LTD is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

MVP 5 LTD (REGISTERED NUMBER: SC549375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2021


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2020 2,448,120
Revaluations 1,451,880
At 30 November 2021 3,900,000
NET BOOK VALUE
At 30 November 2021 3,900,000
At 30 November 2020 2,448,120

Fair value at 30 November 2021 is represented by:
£   
Valuation in 2021 1,451,880
Cost 2,448,120
3,900,000

If investment property had not been revalued it would have been included at the following historical cost:

30.11.21 30.11.20
£    £   
Cost 2,448,120 -

Investment property was valued on an open market basis on 4 October 2021 by Colliers .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.21 30.11.20
£    £   
Other debtors 32,764 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.21 30.11.20
£    £   
Bank loans and overdrafts (see note 8) 20,914 81,887
Trade creditors 7,141 14,588
VAT 63,314 15,759
Directors' current accounts 1,149 1,149
Accrued expenses 1,190 2,040
93,708 115,423

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.21 30.11.20
£    £   
Bank loans (see note 8) 2,465,687 2,465,687

MVP 5 LTD (REGISTERED NUMBER: SC549375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2021


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.11.21 30.11.20
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,219,687 2,219,687

8. LOANS

An analysis of the maturity of loans is given below:

30.11.21 30.11.20
£    £   
Amounts falling due within one year or on demand:
Bank loans 20,914 81,887

Amounts falling due between one and two years:
Bank loans - 1-2 years 43,000 43,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 203,000 203,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,219,687 2,219,687

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.21 30.11.20
£    £   
Bank loans 2,486,601 2,547,574

Standard security is held over the property at 71 Oxford Street and 80 Norfolk Street Glasgow.

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 30.11.21 30.11.20
value: £    £   
100 Ordinary 1 100 100

MVP 5 LTD (REGISTERED NUMBER: SC549375)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2021


11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 December 2020 (86,572 ) - (86,572 )
Profit for the year 24,043 24,043
revaluation in year - 1,451,880 1,451,880
At 30 November 2021 (62,529 ) 1,451,880 1,389,351

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 November 2021 and the period ended 30 November 2020:

30.11.21 30.11.20
£    £   
S Feeley
Balance outstanding at start of year (1,149 ) (1,149 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,149 ) (1,149 )

MVP 5 LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
MVP 5 LTD


The following reproduces the text of the report prepared for the director 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 Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2021 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






J Gilmour Limited
Certified Accountants
24 Clydeview
Bothwell
Glasgow
Lanarkshire
G71 8NW


24 August 2022