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Company Registration No. SC604149 (Scotland)
M-VERTH LIMITED Unaudited accounts for the year ended 31 August 2023
M-VERTH LIMITED Unaudited accounts Contents
Page
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M-VERTH LIMITED Company Information for the year ended 31 August 2023
Directors
Michael Chipeuzo Asawalam Professor Abel Usoro
Company Number
SC604149 (Scotland)
Registered Office
Lower Ground Floor Mirren Court Three 123 Renfrew Road Paisley PA3 4EA UNITED KINGDOM
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M-VERTH LIMITED Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
28,809 
21,369 
Current assets
Cash at bank and in hand
2,084 
8,394 
Creditors: amounts falling due within one year
4,783 
(4,374)
Net current assets
6,867 
4,020 
Total assets less current liabilities
35,676 
25,389 
Creditors: amounts falling due after more than one year
(32,600)
(34,104)
Net assets/(liabilities)
3,076 
(8,715)
Capital and reserves
Called up share capital
(1)
(1)
Profit and loss account
3,077 
(8,714)
Shareholders' funds
3,076 
(8,715)
For the year ending 31 August 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 10 April 2024 and were signed on its behalf by
Michael Chipeuzo Asawalam Director Company Registration No. SC604149
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M-VERTH LIMITED Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
M-VERTH LIMITED is a private company, limited by shares, registered in Scotland, registration number SC604149. The registered office is Lower Ground Floor, Mirren Court Three, 123 Renfrew Road, Paisley, PA3 4EA, 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.
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:
Motor vehicles
6%
Computer equipment
18%
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2022
8,650 
17,719 
26,369 
Additions
6,500 
5,000 
11,500 
At 31 August 2023
15,150 
22,719 
37,869 
Depreciation
At 1 September 2022
3,638 
1,362 
5,000 
Charge for the year
366 
3,694 
4,060 
At 31 August 2023
4,004 
5,056 
9,060 
Net book value
At 31 August 2023
11,146 
17,663 
28,809 
At 31 August 2022
5,012 
16,357 
21,369 
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M-VERTH LIMITED Notes to the Accounts for the year ended 31 August 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
1,191 
2,084 
Other creditors
- 
981 
Loans from directors
(6,364)
- 
Accruals
390 
1,309 
(4,783)
4,374 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
32,600 
32,600 
Obligations under finance leases and hire purchase contracts
- 
1,504 
32,600 
34,104 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Michael Chipeuzo Asawalam
Loan repaid
- 
6,364 
6,364 
- 
- 
6,364 
6,364 
- 
8
Average number of employees
During the year the average number of employees was 25 (2022: 6).
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