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Registered Number: 07410984
England and Wales

 

 

 

MVS PROPERTIES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Report to the directors on the preparation of the unaudited statutory accounts of MVS PROPERTIES LTD for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MVS PROPERTIES LTD for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of MVS PROPERTIES LTD, as a body, in accordance with the terms of our engagement letter dated 24 September 2024 Our work has been undertaken solely to prepare for your approval the accounts of MVS PROPERTIES LTD and state those matters that we have agreed to state to the Board of Directors of MVS PROPERTIES LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MVS PROPERTIES LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MVS PROPERTIES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MVS PROPERTIES LTD. You consider that MVS PROPERTIES LTD is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of MVS PROPERTIES LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 December 2023



....................................................

Business Accounting Services (Essex) Ltd

6 BARNCROFT CLOSE,
HIGHWOODS
Colchester
CO4 9SF
24 September 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 2,008,760    1,747,536 
2,008,760    1,747,536 
Current assets      
Debtors (4,471)   (4,121)
Cash at bank and in hand 61,242    12,474 
56,771    8,353 
Creditors: amount falling due within one year (425,403)   (58,010)
Net current assets (368,632)   (49,657)
 
Total assets less current liabilities 1,640,128    1,697,879 
Creditors: amount falling due after more than one year (1,166,252)   (1,166,252)
Net assets 473,876    531,627 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 473,776    531,527 
Shareholders' funds 473,876    531,627 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 director on 24 September 2024 and were signed by:


-------------------------------
L M Venkatasami
Director
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General Information
MVS PROPERTIES LTD is a private company, limited by shares, registered in England and Wales, registration number 07410984, registration address 19 THE STREET, Weeley, Essex, CO16 9JF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable 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 capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Average number of employees

None
Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 January 2023 1,747,536    1,747,536 
Additions 261,224    261,224 
Disposals  
At 31 December 2023 2,008,760    2,008,760 
Depreciation
At 01 January 2023  
Charge for year  
On disposals  
At 31 December 2023  
Net book values
Closing balance as at 31 December 2023 2,008,760    2,008,760 
Opening balance as at 01 January 2023 1,747,536    1,747,536 


3