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REGISTERED NUMBER: SC240584 (Scotland)







Unaudited Financial Statements

for the Year Ended 31 December 2023

for

MVPR Limited

MVPR Limited (Registered number: SC240584)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

MVPR Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr E S Gillies
Ms S M Holloway





SECRETARY: Mr E S Gillies





REGISTERED OFFICE: Old Post House
24 High Street
Pittenweem
Fife
KY10 2LA





REGISTERED NUMBER: SC240584 (Scotland)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY

MVPR Limited (Registered number: SC240584)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 339 423
Investment property 5 945,000 1,026,988
945,339 1,027,411

CURRENT ASSETS
Debtors 6 1,167 2,167
Cash at bank 71,743 36,503
72,910 38,670
CREDITORS
Amounts falling due within one year 7 (525,899 ) (528,920 )
NET CURRENT LIABILITIES (452,989 ) (490,250 )
TOTAL ASSETS LESS CURRENT LIABILITIES 492,350 537,161

PROVISIONS FOR LIABILITIES (74,094 ) (71,914 )
NET ASSETS 418,256 465,247

CAPITAL AND RESERVES
Called up share capital 8 14,000 10,000
Fair value reserve 9 222,066 306,242
Retained earnings 9 182,190 149,005
SHAREHOLDERS' FUNDS 418,256 465,247

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.

MVPR Limited (Registered number: SC240584)

Balance Sheet - continued
31 December 2023


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 25 September 2024 and were signed on its behalf by:





Mr E S Gillies - Director


MVPR Limited (Registered number: SC240584)

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

1. STATUTORY INFORMATION

MVPR Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

MVPR Limited (Registered number: SC240584)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 12,551
DEPRECIATION
At 1 January 2023 12,128
Charge for year 84
At 31 December 2023 12,212
NET BOOK VALUE
At 31 December 2023 339
At 31 December 2022 423

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 1,026,988
Revaluations (81,988 )
At 31 December 2023 945,000
NET BOOK VALUE
At 31 December 2023 945,000
At 31 December 2022 1,026,988

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2018 240,738
Valuation in 2020 131,988
Valuation in 2021 5,350
Valuation in 2023 (81,988 )
Cost 648,912
945,000

If investment property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 648,912 648,912

Investment property was valued on an open market basis on 31 December 2023 by the directors .

MVPR Limited (Registered number: SC240584)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,167 2,167

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,896 750
Tax 9,209 9,197
Directors' current accounts 512,802 517,077
Accrued expenses 1,992 1,896
525,899 528,920

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary A £1 5,000 1,000
9,000 Ordinary B £1 9,000 9,000
14,000 10,000

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2023 149,005 306,242 455,247
Deficit for the year (50,991 ) (50,991 )
Assets revalued in period 84,176 (84,176 ) -
At 31 December 2023 182,190 222,066 404,256

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
MVPR Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MVPR Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of MVPR Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MVPR Limited and state those matters that we have agreed to state to the Board of Directors of MVPR Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MVPR Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MVPR Limited 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 MVPR Limited. You consider that MVPR Limited 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 financial statements of MVPR Limited. 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 financial statements.






Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
United Kingdom
BS32 4JY


25 September 2024