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REGISTERED NUMBER: 11372418 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2023

for

MVE Management Limited

MVE Management Limited (Registered number: 11372418)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


MVE Management Limited (Registered number: 11372418)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,953 3,069
Tangible assets 5 15,931 8,300
Investments 6 18,033 18,033
35,917 29,402

CURRENT ASSETS
Debtors 7 652,559 560,420
Cash at bank 491,241 173,098
1,143,800 733,518
CREDITORS
Amounts falling due within one year 8 227,523 127,363
NET CURRENT ASSETS 916,277 606,155
TOTAL ASSETS LESS CURRENT LIABILITIES 952,194 635,557

PROVISIONS FOR LIABILITIES 4,471 -
NET ASSETS 947,723 635,557

CAPITAL AND RESERVES
Called up share capital 9 100 100
Share premium 770,166 770,166
Retained earnings 177,457 (134,709 )
SHAREHOLDERS' FUNDS 947,723 635,557

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





J G Sugg - Director


MVE Management Limited (Registered number: 11372418)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

MVE Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11372418

Registered office: 2nd Floor
National House
60-66 Wardour Street
London
W1F 0TA

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company prepares its first financial statements that comply with FRS 102(1A) for the year ended 31 December 2023. The date of transition to FRS 102(1A) is 1 January 2022. The impact of the transition is as follows:

As at 31 December 2022, assets have increased by £6,328 to £733,518, net assets have increased by £6,328 to £606,155, retained earnings have increased by £6,328 to -£134,709 and shareholders' funds have increased by £6,328 to £635,557.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, sales returns, rebates and discounts.

Revenue is recognised on the provision of services. Where not all services have been rendered, revenue is recognised based upon the period lapsed compared with total period of the project.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intangibles are being amortised evenly over their estimated useful life of 3-10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 33% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

MVE Management Limited (Registered number: 11372418)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement 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 liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 end 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MVE Management Limited (Registered number: 11372418)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 4,650
AMORTISATION
At 1 January 2023 1,581
Charge for year 1,116
At 31 December 2023 2,697
NET BOOK VALUE
At 31 December 2023 1,953
At 31 December 2022 3,069

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 15,944
Additions 14,738
At 31 December 2023 30,682
DEPRECIATION
At 1 January 2023 7,644
Charge for year 7,107
At 31 December 2023 14,751
NET BOOK VALUE
At 31 December 2023 15,931
At 31 December 2022 8,300

MVE Management Limited (Registered number: 11372418)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 18,033
NET BOOK VALUE
At 31 December 2023 18,033
At 31 December 2022 18,033

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 297,365 285,231
Other debtors 355,194 275,189
652,559 560,420

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 18,934 42,308
Taxation and social security 202,714 79,814
Other creditors 5,875 5,241
227,523 127,363

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
70 A Shares 1 70 70
30 B Shares 1 30 30
100 100