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
MSV Narrowboats Ltd
Company Information
for the year ended 29 February 2024
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
MSV Narrowboats Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
44,061
26,937
Cash at bank and in hand
89,244
104,609
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)
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
MSV Narrowboats Ltd
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Plant & machinery
4 years and 25 years
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 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 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.
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
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
At 29 February 2024
12,651
10,890
20,520
44,061
At 28 February 2023
16,988
9,949
-
26,937
Amounts falling due within one year
Trade debtors
36,731
3,579
Accrued income and prepayments
12,041
12,349
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
1,934
946
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
Deferred income
12,853
8,813
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).