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Registered Number: 12404175
England and Wales

 

 

 

MVS TAXIS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Director Mialche Vanchov SENOV
Registered Number 12404175
Registered Office 12 KIMMERIDGE ROAD
CUMNOR OXFORD
OX2 9RF
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 January 2024
Principal activities
The companys principal activity during the year was the sale of Taxi operation.
Director
The director who served the company throughout the year was as follows:
Mialche Vanchov SENOV
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Mialche Vanchov SENOV
Director

Date approved: 22 October 2024
2
 
 
Notes
 
2024
£
  2023
£
Turnover 29,470    41,954 
Cost of sales (12,426)   (4,800)
Gross profit 17,044    37,154 
Administrative expenses (15,307)   (33,842)
Operating profit 1,737    3,312 
Profit/(Loss) on ordinary activities before taxation 1,737    3,312 
Tax on profit on ordinary activities (330)   (629)
Profit/(Loss) for the financial year 1,407    2,683 
 
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 11,600    11,600 
11,600    11,600 
Current assets      
Cash at bank and in hand 430    101 
Creditors: amount falling due within one year 4 (2,133)   (623)
Net current assets (1,703)   (522)
 
Total assets less current liabilities 9,897    11,078 
Creditors: amount falling due after more than one year 5 (4,814)   (7,402)
Net assets 5,083    3,676 
 

Capital and reserves
     
Called up share capital 6 100    100 
Profit and loss account 4,983    3,576 
Shareholders' funds 5,083    3,676 
 


For the year ended 31 January 2024 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 financial statements were approved by the director on 22 October 2024 and were signed by:


-------------------------------
Mialche Vanchov SENOV
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 February 2022 100  3,164  3,264 
Profit for the year 2,683  2,683 
Total comprehensive income for the year 2,683  2,683 
Dividends (2,271) (2,271)
Total investments by and distributions to owners (2,271) (2,271)
At 31 January 2023 100  3,576  3,676 
At 01 February 2023 100  3,576  3,676 
Profit for the year 1,407  1,407 
Total comprehensive income for the year 1,407  1,407 
Total investments by and distributions to owners
At 31 January 2024 100  4,983  5,083 
5
General Information
MVS TAXIS LTD is a private company, limited by shares, registered in England and Wales, registration number 12404175, registration address 12 KIMMERIDGE ROAD, CUMNOR OXFORD, OX2 9RF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
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
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
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

Average number of employees during the year was 0 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Total
  £   £
At 01 February 2023 11,600    11,600 
Additions  
Disposals  
At 31 January 2024 11,600    11,600 
Depreciation
At 01 February 2023  
Charge for year  
On disposals  
At 31 January 2024  
Net book values
Closing balance as at 31 January 2024 11,600    11,600 
Opening balance as at 01 February 2023 11,600    11,600 

The net book value of Motor Vehicles includes £ 11,600 (2023 £11,600) in respect of assets leased under finance leases or hire purchase contracts.

4.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 323    623 
Directors' Current Accounts 1,810   
2,133    623 

5.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 4,814    7,402 
4,814    7,402 

6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £100.00 each 10,000    10,000 
10,000    10,000 

6