Registered number
13461907
MVN Investments Ltd
Filleted Accounts
31 March 2023
MVN Investments Ltd
Registered number: 13461907
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 154,309 79,959
Investments 4 2 2
154,311 79,961
Current assets
Debtors 5 11,292 1,475
Cash at bank and in hand 146 702
11,438 2,177
Creditors: amounts falling due within one year 6 (8,454) (8,054)
Net current assets/(liabilities) 2,984 (5,877)
Net assets 157,295 74,084
Capital and reserves
Called up share capital 2 2
Profit and loss account 157,293 74,082
Shareholders' funds 157,295 74,084
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr V De Almeida
Director
Approved by the board on 21 December 2023
MVN Investments Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Intangible fixed assets
Intangible fixed assets comprise crypto assets and ETH validators. These are initially recognised at cost at the time of acquisition and then carried at fair value derived from their relevant market rate where an active market exists. If no active market exists, they are stated at cost with impairment charges made where necessary. Increases in the fair value of crypto assets are recognised in a revaluation reserve except where they reverse a revaluation decrease of the same asset previosuly recognised in the profit and loss account. Revaluation losses are also recognised in a revaluation reserve to the extent of any previously recognised revaluation gains in respect of that asset, but any excess is recognised in the profit and loss account.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Crypto assets
Cost or valuation
At 1 April 2022 79,959
Additions 235,124
Disposals (108,155)
Revaluation (52,619)
At 31 March 2023 154,309
Net book value
At 31 March 2023 154,309
At 31 March 2022 79,959
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2022 2
At 31 March 2023 2
The company's investment is 100% holding of Decentralised Engineering Limited, a company registered in England and Wales.
5 Debtors 2023 2022
£ £
Deferred tax asset 11,292 1,294
Other debtors - 181
11,292 1,475
6 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 8,054 8,054
Other creditors 400 -
8,454 8,054
7 Other information
MVN Investments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
c/o Cryptax
Thursby House, 1 Thursby Road
Croft Business Park, Bromborough
Wirral
CH62 3PW
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