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Company Registration No. 09934324 (England and Wales)
MSV Narrowboats Ltd Unaudited accounts for the year ended 29 February 2024
MSV Narrowboats Ltd Unaudited accounts Contents
Page
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MSV Narrowboats Ltd Company Information for the year ended 29 February 2024
Directors
N Kirk M Varney
Company Number
09934324 (England and Wales)
Registered Office
Aynho Wharf Station Road Aynho Oxfordshire OX17 3BP United Kingdom
Accountants
Link Accounting Limited Bloxham Mill Business Centre Barford Road Bloxham Oxfordshire OX15 4FF
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MSV Narrowboats Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
44,061 
26,937 
Current assets
Inventories
26,899 
23,631 
Debtors
48,772 
15,928 
Cash at bank and in hand
89,244 
104,609 
164,915 
144,168 
Creditors: amounts falling due within one year
(82,979)
(72,487)
Net current assets
81,936 
71,681 
Total assets less current liabilities
125,997 
98,618 
Creditors: amounts falling due after more than one year
(15,907)
- 
Provisions for liabilities
Deferred tax
(7,853)
(1,890)
Net assets
102,237 
96,728 
Capital and reserves
Called up share capital
450 
450 
Profit and loss account
101,787 
96,278 
Shareholders' funds
102,237 
96,728 
For the year ending 29 February 2024 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 5 September 2024 and were signed on its behalf by
N Kirk Director Company Registration No. 09934324
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MSV Narrowboats Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
MSV Narrowboats Ltd is a private company, limited by shares, registered in England and Wales, registration number 09934324. The registered office is Aynho Wharf, Station Road, Aynho, Oxfordshire, OX17 3BP, 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
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:
Land & buildings
7 years
Plant & machinery
4 years and 25 years
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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MSV Narrowboats Ltd Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
70,000 
38,924 
- 
108,924 
Additions
- 
1,969 
25,650 
27,619 
At 29 February 2024
70,000 
40,893 
25,650 
136,543 
Depreciation
At 1 March 2023
53,012 
28,975 
- 
81,987 
Charge for the year
4,337 
1,028 
5,130 
10,495 
At 29 February 2024
57,349 
30,003 
5,130 
92,482 
Net book value
At 29 February 2024
12,651 
10,890 
20,520 
44,061 
At 28 February 2023
16,988 
9,949 
- 
26,937 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
36,731 
3,579 
Accrued income and prepayments
12,041 
12,349 
48,772 
15,928 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
1,934 
946 
VAT
4,013 
1,231 
Obligations under finance leases and hire purchase contracts
4,027 
- 
Trade creditors
20,347 
20,391 
Taxes and social security
9,586 
9,055 
Loans from directors
30,219 
31,237 
Accruals
- 
814 
Deferred income
12,853 
8,813 
82,979 
72,487 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
15,907 
- 
8
Average number of employees
During the year the average number of employees was 7 (2023: 6).
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