Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr S Cairns 15/12/2016 Mr T O'Rourke 15/12/2016 25 March 2024 The principal activity of the company continued to be that of a finance broker. SC552652 2023-12-31 SC552652 bus:Director1 2023-12-31 SC552652 bus:Director2 2023-12-31 SC552652 core:CurrentFinancialInstruments 2023-12-31 SC552652 core:CurrentFinancialInstruments 2022-12-31 SC552652 2022-12-31 SC552652 core:ShareCapital 2023-12-31 SC552652 core:ShareCapital 2022-12-31 SC552652 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC552652 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC552652 bus:OrdinaryShareClass1 2023-12-31 SC552652 2023-01-01 2023-12-31 SC552652 bus:FilletedAccounts 2023-01-01 2023-12-31 SC552652 bus:SmallEntities 2023-01-01 2023-12-31 SC552652 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC552652 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC552652 bus:Director1 2023-01-01 2023-12-31 SC552652 bus:Director2 2023-01-01 2023-12-31 SC552652 2022-01-01 2022-12-31 SC552652 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC552652 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC552652 (Scotland)

MV FINANCE LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

MV FINANCE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

MV FINANCE LTD

BALANCE SHEET

AS AT 31 DECEMBER 2023
MV FINANCE LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Current assets
Debtors 3 1,192 4,539
Cash at bank and in hand 4 97,097 50,418
98,289 54,957
Creditors: amounts falling due within one year 5 ( 15,025) ( 11,350)
Net current assets 83,264 43,607
Total assets less current liabilities 83,264 43,607
Net assets 83,264 43,607
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account 83,262 43,605
Total shareholders' funds 83,264 43,607

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of MV Finance Ltd (registered number: SC552652) were approved and authorised for issue by the Board of Directors on 25 March 2024. They were signed on its behalf by:

Mr S Cairns
Director
MV FINANCE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
MV FINANCE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

MV Finance Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Ninian Road, Brownsburn Industrial Estate, Airdrie, ML6 9SE, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Turnover is recognised when the company has entitlement to the income in exchange for the provision of services.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2023 2022
£ £
Trade debtors 1,190 4,465
Other debtors 2 74
1,192 4,539

4. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 97,097 50,418

5. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 11,727 8,050
Other creditors 3,298 3,300
15,025 11,350

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and not yet paid
2 Ordinary shares of £ 1.00 each 2 2