Company Registration No. 10552477 (England and Wales)
MBV Holdings Limited
Unaudited accounts
for the year ended 31 March 2024
MBV Holdings Limited
Unaudited accounts
Contents
MBV Holdings Limited
Company Information
for the year ended 31 March 2024
Company Number
10552477 (England and Wales)
Registered Office
128 City Road,
London
United Kingdom
EC1V 2NX
Accountants
Charterwells
Suite 8, 2nd Floor
43-45 High Road
Bushey Heath
WD23 1EE
MBV Holdings Limited
Statement of financial position
as at 31 March 2024
Tangible assets
57,716
47,283
Cash at bank and in hand
6,173
18,797
Creditors: amounts falling due within one year
(66,828)
(25,278)
Net current (liabilities)/assets
(34,425)
22,538
Total assets less current liabilities
23,291
69,821
Creditors: amounts falling due after more than one year
(23,211)
(61,793)
Called up share capital
5,000
5,000
Profit and loss account
(4,920)
3,028
Shareholders' funds
80
8,028
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 October 2024 and were signed on its behalf by
Marco BOTTICELLI
Director
Company Registration No. 10552477
MBV Holdings Limited
Notes to the Accounts
for the year ended 31 March 2024
MBV Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 10552477. The registered office is 128 City Road, , London, United Kingdom, EC1V 2NX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & fittings
20% SLB
Computer equipment
20% SLB
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
MBV Holdings Limited
Notes to the Accounts
for the year ended 31 March 2024
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be
available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
4,869
60,695
821
39,459
105,844
Additions
-
222
-
2,442
2,664
At 31 March 2024
4,869
60,917
821
41,901
108,508
At 1 April 2023
1,518
40,927
260
15,856
58,561
Charge for the year
974
12,184
164
7,654
20,976
On disposals
-
(28,745)
-
-
(28,745)
At 31 March 2024
2,492
24,366
424
23,510
50,792
At 31 March 2024
2,377
36,551
397
18,391
57,716
At 31 March 2023
3,351
19,768
561
23,603
47,283
Amounts falling due within one year
Other debtors
26,230
21,930
MBV Holdings Limited
Notes to the Accounts
for the year ended 31 March 2024
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Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
47,142
-
Trade creditors
21,486
5,695
Taxes and social security
23,039
18,495
Loans from directors
(10,969)
1,088
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Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
61,793
Allotted, called up and fully paid:
5,000 Ordinary shares of £1 each
5,000
5,000
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Average number of employees
During the year the average number of employees was 2 (2023: 2).