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Reports Dated : 08/07/2024 Registered Number: 13254316
England and Wales

 

 

 

MBV CONSULTANTS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 3,837    5,051 
3,837    5,051 
Current assets      
Debtors 22,826    14,165 
Cash at bank and in hand 46,805    67,363 
69,631    81,528 
Creditors: amount falling due within one year (17,081)   (35,648)
Net current assets 52,550    45,880 
 
Total assets less current liabilities 56,387    50,931 
Accruals and deferred income   (120)
Provisions for liabilities (959)   (960)
Net assets 55,428    49,851 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 55,328    49,751 
Shareholder's funds 55,428    49,851 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 board of directors on 08 July 2024 and were signed on its behalf by:


-------------------------------
M H Blake
Director
1
General Information
MBV Consultants Limited is a private company, limited by shares, registered in England and Wales, registration number 13254316, registration address Flat 41, Harrier House 5 Antoinette Close, KingstonUponThames, Surrey, KT1 2FJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation for the year comprises current 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 equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year and and 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.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures and Fittings  25 %Straight Line
Computer Equipment  33 %Straight Line



At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
2.

Average number of employees


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

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 April 2023 7,189    2,070    9,259 
Additions 1,436      1,436 
Disposals    
At 31 March 2024 8,625    2,070    10,695 
Depreciation
At 01 April 2023 2,832    1,376    4,208 
Charge for year 1,967    683    2,650 
On disposals    
At 31 March 2024 4,799    2,059    6,858 
Net book values
Closing balance as at 31 March 2024 3,826    11    3,837 
Opening balance as at 01 April 2023 4,357    694    5,051 


4.

Debtors: amounts falling within one year

.   2024
£
  2023
£
Trade debtors 3,375 
Accrued income 16,907  14,165 
Corporation tax 344 
Directors 2,200 
22,826  14,165 

5.

Creditors: amount falling due within one year

.   2024
£
  2023
£
Trade Creditors 42 
Corporation Tax 18,981 
PAYE & Social Security 551  575 
Accrued expenses 630  478 
Wages & Salaries Control Account 5,953  5,182 
Directors 929 
VAT 9,947  9,461 
17,081  35,648 

6.

Provisions for liabilities

.   2024
£
  2023
£
Deferred Tax 959  960 
959  960 

2