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REGISTERED NUMBER: 03887024 (England and Wales)














M.V. Technical Solutions Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






M.V. Technical Solutions Limited (Registered number: 03887024)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 5


M.V. Technical Solutions Limited

Company Information
for the Year Ended 31 March 2024







Directors: I Masters
Mrs K Masters





Registered office: Monica House
St Augustines Road
Wisbech
Cambs
PE13 3AD





Business address: Dairy House Barn
7a Main Street
Woodnewton
Northamptonshire
PE8 5EB





Registered number: 03887024 (England and Wales)





Accountants: Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambridgeshire
PE13 3AD

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
M.V. Technical Solutions 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 Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report 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 M.V. Technical Solutions Limited for the year ended 31 March 2024 which comprise the Income statement, Statement of financial position 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 M.V. Technical Solutions Limited, as a body, in accordance with the terms of our engagement letter dated 17 August 2018. Our work has been undertaken solely to prepare for your approval the financial statements of M.V. Technical Solutions Limited and state those matters that we have agreed to state to the Board of Directors of M.V. Technical Solutions 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 M.V. Technical Solutions Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that M.V. Technical Solutions 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 profit of M.V. Technical Solutions Limited. You consider that M.V. Technical Solutions 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 M.V. Technical Solutions 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.






Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambridgeshire
PE13 3AD


Date: .............................................

M.V. Technical Solutions Limited (Registered number: 03887024)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 28,731 37,753

Current assets
Debtors 6 54,416 48,421
Cash at bank 62,518 34,106
116,934 82,527
Creditors
Amounts falling due within one year 7 50,709 40,869
Net current assets 66,225 41,658
Total assets less current liabilities 94,956 79,411

Creditors
Amounts falling due after more than one
year

8

(5,010

)

(12,510

)

Provisions for liabilities (6,087 ) (8,273 )
Net assets 83,859 58,628

Capital and reserves
Called up share capital 36 36
Capital redemption reserve 32 32
Retained earnings 83,791 58,560
83,859 58,628

M.V. Technical Solutions Limited (Registered number: 03887024)

Statement of Financial Position - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 30 October 2024 and were signed on its behalf by:





I Masters - Director


M.V. Technical Solutions Limited (Registered number: 03887024)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

M.V. Technical Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

M.V. Technical Solutions Limited (Registered number: 03887024)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. Employees and directors

The average number of employees during the year was 3 (2023 - 4 ) .

5. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 April 2023
and 31 March 2024 17,711 61,801 2,924 82,436
Depreciation
At 1 April 2023 13,549 29,028 2,106 44,683
Charge for year 624 8,194 204 9,022
At 31 March 2024 14,173 37,222 2,310 53,705
Net book value
At 31 March 2024 3,538 24,579 614 28,731
At 31 March 2023 4,162 32,773 818 37,753

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 27,719 26,196
Other debtors 10,115 6,783
Directors' loan accounts 16,002 14,795
Prepayments 580 647
54,416 48,421

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts (see note 9) 7,500 9,445
Trade creditors 330 378
Tax 29,616 18,870
Social security and other taxes 1,914 1,469
VAT 7,501 6,323
Other creditors 272 1,030
Accrued expenses 3,576 3,354
50,709 40,869

M.V. Technical Solutions Limited (Registered number: 03887024)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts (see note 9) 5,010 12,510

9. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 7,500 9,445
Between one and five years 5,010 12,510
12,510 21,955

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 2,463

10. Directors' advances, credits and guarantees

During the year the company made an unsecured, interest free loan to one of the directors. Amounts loaned to the director in the year were £21,518 (2023: £19,077). Amounts repaid by the director in the year were £20,312 (2023: £2,642). The amount outstanding at the balance sheet date was £16,002 (2023: £14,796).