MV Sales UK Ltd 11668382 false 2022-12-01 2023-11-29 2023-11-29 The principal activity of the company is Car Sales Digita Accounts Production Advanced 6.30.9574.0 true true 11668382 2022-12-01 2023-11-29 11668382 2023-11-29 11668382 bus:OrdinaryShareClass1 2023-11-29 11668382 bus:OrdinaryShareClass2 2023-11-29 11668382 core:CurrentFinancialInstruments 2023-11-29 11668382 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-29 11668382 core:Non-currentFinancialInstruments 2023-11-29 11668382 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-29 11668382 core:PlantMachinery 2023-11-29 11668382 bus:SmallEntities 2022-12-01 2023-11-29 11668382 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-29 11668382 bus:FilletedAccounts 2022-12-01 2023-11-29 11668382 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-29 11668382 bus:RegisteredOffice 2022-12-01 2023-11-29 11668382 bus:Director1 2022-12-01 2023-11-29 11668382 bus:Director2 2022-12-01 2023-11-29 11668382 bus:OrdinaryShareClass1 2022-12-01 2023-11-29 11668382 bus:OrdinaryShareClass2 2022-12-01 2023-11-29 11668382 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-29 11668382 core:PlantMachinery 2022-12-01 2023-11-29 11668382 countries:UnitedKingdom 2022-12-01 2023-11-29 11668382 2022-11-30 11668382 core:PlantMachinery 2022-11-30 11668382 2021-12-01 2022-11-30 11668382 2022-11-30 11668382 bus:OrdinaryShareClass1 2022-11-30 11668382 bus:OrdinaryShareClass2 2022-11-30 11668382 core:CurrentFinancialInstruments 2022-11-30 11668382 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 11668382 core:Non-currentFinancialInstruments 2022-11-30 11668382 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 11668382 core:PlantMachinery 2022-11-30 11668382 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 11668382 bus:OrdinaryShareClass2 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11668382

MV Sales UK Ltd

Unaudited Filleted Financial Statements

for the Period from 1 December 2022 to 29 November 2023

 

MV Sales UK Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

MV Sales UK Ltd

Company Information

Directors

Natasha Dos Santos

Mr Jack Richard James

Registered office

Unit M6
Frome Business Park
Manor Road
Frome
Somerset
BA11 4FN

Accountants

Delphi Accounting Ltd
Chartered Tax Advisers
Unit M6
Frome Business Park
Manor Road
Frome
Somerset
BA11 4FN

 

MV Sales UK Ltd

(Registration number: 11668382)
Balance Sheet as at 29 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,266

3,360

Current assets

 

Stocks

5

553,170

648,771

Debtors

6

348,061

43,735

Cash at bank and in hand

 

37,293

-

 

938,524

692,506

Creditors: Amounts falling due within one year

7

(626,243)

(386,746)

Net current assets

 

312,281

305,760

Total assets less current liabilities

 

314,547

309,120

Creditors: Amounts falling due after more than one year

7

(14,340)

(24,200)

Net assets

 

300,207

284,920

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

300,205

284,918

Shareholders' funds

 

300,207

284,920

For the financial period ending 29 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 November 2024 and signed on its behalf by:
 

.........................................
Natasha Dos Santos
Director

   
     
 

MV Sales UK Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 29 November 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit M6
Frome Business Park
Manor Road
Frome
Somerset
BA11 4FN

These financial statements were authorised for issue by the Board on 27 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

MV Sales UK Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 29 November 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

MV Sales UK Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 29 November 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2022 - 3).

 

MV Sales UK Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 29 November 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2022

5,470

5,470

At 29 November 2023

5,470

5,470

Depreciation

At 1 December 2022

2,110

2,110

Charge for the period

1,094

1,094

At 29 November 2023

3,204

3,204

Carrying amount

At 29 November 2023

2,266

2,266

At 30 November 2022

3,360

3,360

5

Stocks

2023
£

2022
£

Other inventories

553,170

648,771

6

Debtors

Current

2023
£

2022
£

Trade debtors

68,583

43,735

Other debtors

279,478

-

 

348,061

43,735

 

MV Sales UK Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 29 November 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

107,660

13,383

Trade creditors

 

200,340

88,796

Taxation and social security

 

6,179

16,139

Accruals and deferred income

 

1,800

51,800

Other creditors

 

310,264

216,628

 

626,243

386,746

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

14,340

24,200

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

A Ordinary of £1 each

1

1

1

1

B Ordinary of £1 each

1

1

1

1

2

2

2

2

 

MV Sales UK Ltd

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 29 November 2023

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

14,340

24,200

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,660

10,800

Bank overdrafts

-

2,583

Other borrowings

97,000

-

107,660

13,383

10

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £Nil per each A Ordinary

-

-

Interim dividend of £Nil per each B Ordinary

-

-

-

-