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Reports Dated : 02/08/2024 Registered Number: 11606122
England and Wales

 

 

 

MVS IT SOLUTIONS AND CONSULTING LTD


Abridged Accounts
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
Accountants report
You consider that the company is exempt from an audit for the year ended 30 June 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
FD Chartered Accountants
30 June 2024



....................................................
FD Chartered Accountants
16 Saberton Close
Redbourn,
St Albans
AL3 7DS
02 August 2024
1
 
 
Notes
 
30/06/2024
£
  30/06/2023
£
Fixed assets      
Tangible fixed assets 3 985    1,202 
985    1,202 
Current assets      
Debtors   478 
Cash at bank and in hand 121,175    120,682 
121,175    121,160 
Creditors: amount falling due within one year (21,745)   (51,647)
Net current assets 99,430    69,513 
 
Total assets less current liabilities 100,415    70,715 
Net assets 100,415    70,715 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account 100,315    70,615 
Shareholders' funds 100,415    70,715 
 


For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 02 August 2024 and were signed by:


-------------------------------
Mustafa Veysi Soyvural
Director
2
General Information
MVS IT Solutions and Consulting Ltd is a private company, limited by shares, registered in England and Wales, registration number 11606122, registration address Office 2, Bennet's House , 21 Leyton Road, Harpenden, AL5 2HU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment %18 Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 July 2023 1,582    1,582 
Additions  
Disposals  
At 30 June 2024 1,582    1,582 
Depreciation
At 01 July 2023 380    380 
Charge for year 217    217 
On disposals  
At 30 June 2024 597    597 
Net book values
Closing balance as at 30 June 2024 985    985 
Opening balance as at 01 July 2023 1,202    1,202 


4.

Share Capital

Authorised
100 Ordinary shares of £1.00 each
Allotted, called up and fully paid
30/06/2024
£
  30/06/2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

3