Caseware UK (AP4) 2023.0.135 2023.0.135 2The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2false2023-01-01No description of principal activitytruetruefalse 04392765 2023-01-01 2023-12-31 04392765 2022-01-01 2022-12-31 04392765 2023-12-31 04392765 2022-12-31 04392765 c:Director1 2023-01-01 2023-12-31 04392765 d:OfficeEquipment 2023-01-01 2023-12-31 04392765 d:OfficeEquipment 2023-12-31 04392765 d:OfficeEquipment 2022-12-31 04392765 d:CurrentFinancialInstruments 2023-12-31 04392765 d:CurrentFinancialInstruments 2022-12-31 04392765 c:FRS102 2023-01-01 2023-12-31 04392765 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04392765 c:FullAccounts 2023-01-01 2023-12-31 04392765 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04392765 6 2023-01-01 2023-12-31 04392765 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 04392765









MVI LONDON LTD.







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 December 2023

 
MVI LONDON LTD.
 
 
  
CHARTERED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MVI LONDON LTD.
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of MVI London Ltd. for the year ended 31 December 2023 which comprise  the balance sheet and the related notes from the Company's accounting records and from information and explanations you have given me.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW)I am subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the board of directors of MVI London Ltd., as a body, in accordance with the terms of my engagement letter dated 06/03/2019My work has been undertaken solely to prepare for your approval the financial statements of MVI London Ltd. and state those matters that I have agreed to state to the board of directors of MVI London Ltd., as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than MVI London Ltd. and its board of directors, as a body, for my work or for this report. 

It is your duty to ensure that MVI London Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of MVI London Ltd.. You consider that MVI London Ltd. is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or review of the financial statements of MVI London Ltd.. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

  



Drennan & Co.
 
Chartered Accountants
  
64 Belsize Park
London
NW3 4EH
20 March 2024
Page 1

 
MVI LONDON LTD.
Registered number: 04392765

BALANCE SHEET
As at 31 December 2023

2023
2022
£
£


Current assets
2,104,236
2,096,650

Creditors: amounts falling due within one year
(101,951)
(86,245)

Net current assets
 
 
2,002,285
 
 
2,010,405

Total assets less current liabilities
2,002,285
2,010,405


Net assets
2,002,285
2,010,405



Capital and reserves
2,002,285
2,010,405


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 March 2024.


Bo Lind
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MVI LONDON LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

1.


General information

The entity is a limited company registered in England & Wales.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MVI LONDON LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
MVI LONDON LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2023
19,538



At 31 December 2023

19,538



Depreciation


At 1 January 2023
19,538



At 31 December 2023

19,538



Net book value



At 31 December 2023
-



At 31 December 2022
-


5.


Debtors

2023
2022
£
£


Trade debtors
26,969
2,428

Other debtors
-
3,771

26,969
6,199



6.


Current asset investments

2023
2022
£
£

Listed investments
1,337,095
1,364,948

Unlisted investments
155,407
33,849

1,492,502
1,398,797


The market value of the listed investments at 31 December 2023 was £1,476,358 (2022: £1,588,931).

Page 5

 
MVI LONDON LTD.
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
584,766
691,654

584,766
691,654



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
95,049
84,852

Accruals and deferred income
6,902
1,393

101,951
86,245


 
Page 6