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Company Registration No. 09934324 (England and Wales)
MSV Narrowboats Ltd Unaudited accounts for the year ended 28 February 2023
MSV Narrowboats Ltd Unaudited accounts Contents
Page
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MSV Narrowboats Ltd Company Information for the year ended 28 February 2023
Directors
N Kirk M Varney
Company Number
09934324 (England and Wales)
Registered Office
Aynho Wharf Station Road Aynho Oxfordshire OX17 3BP United Kingdom
Accountants
Link Accounting Limited Bloxham Mill Business Centre Barford Road Bloxham Oxfordshire OX15 4FF
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MSV Narrowboats Ltd Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
26,937 
22,710 
Current assets
Inventories
23,631 
15,416 
Debtors
15,928 
13,797 
Cash at bank and in hand
104,609 
96,443 
144,168 
125,656 
Creditors: amounts falling due within one year
(72,487)
(55,715)
Net current assets
71,681 
69,941 
Total assets less current liabilities
98,618 
92,651 
Provisions for liabilities
Deferred tax
(1,890)
(263)
Net assets
96,728 
92,388 
Capital and reserves
Called up share capital
450 
450 
Profit and loss account
96,278 
91,938 
Shareholders' funds
96,728 
92,388 
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by
N Kirk Director Company Registration No. 09934324
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MSV Narrowboats Ltd Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
MSV Narrowboats Ltd is a private company, limited by shares, registered in England and Wales, registration number 09934324. The registered office is Aynho Wharf, Station Road, Aynho, Oxfordshire, OX17 3BP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
7 years
Plant & machinery
4 years and 25 years
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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MSV Narrowboats Ltd Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2022
70,000 
29,633 
99,633 
Additions
- 
9,291 
9,291 
At 28 February 2023
70,000 
38,924 
108,924 
Depreciation
At 1 March 2022
48,675 
28,248 
76,923 
Charge for the year
4,337 
727 
5,064 
At 28 February 2023
53,012 
28,975 
81,987 
Net book value
At 28 February 2023
16,988 
9,949 
26,937 
At 28 February 2022
21,325 
1,385 
22,710 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,579 
1,094 
Accrued income and prepayments
12,349 
12,703 
15,928 
13,797 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
946 
1,219 
VAT
1,231 
4,361 
Trade creditors
20,391 
17,929 
Taxes and social security
9,055 
12,064 
Other creditors
- 
246 
Loans from directors
31,237 
19,896 
Accruals
814 
- 
Deferred income
8,813 
- 
72,487 
55,715 
7
Average number of employees
During the year the average number of employees was 6 (2022: 5).
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