Registered number
04314597
MVM Group Limited
Filleted Accounts
31 December 2023
MVM Group Limited
Registered number: 04314597
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 685,639 653,723
Investments 4 48,078 48,078
733,717 701,801
Current assets
Debtors 5 58,025 23,098
Cash at bank and in hand 212,110 240,848
270,135 263,946
Creditors: amounts falling due within one year 6 (64,590) (70,430)
Net current assets 205,545 193,516
Total assets less current liabilities 939,262 895,317
Provisions for liabilities (233) (233)
Net assets 939,029 895,084
Capital and reserves
Called up share capital 15,601 15,601
Profit and loss account 10 923,428 879,483
Shareholders' funds 939,029 895,084
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C E F Hunt
Director
Approved by the board on 30 November 2024
MVM Group Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery at variable rate on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 806,788 304,769 1,111,557
Additions - 45,000 45,000
At 31 December 2023 806,788 349,769 1,156,557
Depreciation
At 1 January 2023 162,000 295,834 457,834
Charge for the year 9,000 4,084 13,084
At 31 December 2023 171,000 299,918 470,918
Net book value
At 31 December 2023 635,788 49,851 685,639
At 31 December 2022 644,788 8,935 653,723
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 48,078
At 31 December 2023 48,078
5 Debtors 2023 2022
£ £
Directors' loan accounts 10,000 235
Amounts owed by group undertakings and undertakings in which the company has a participating interest 44,980 22,863
Other debtors 3,045 -
58,025 23,098
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 63,990 69,855
Other creditors 600 575
64,590 70,430
7 Related party disclosures
The company has taken advantage of exemption, under FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.
8 Controlling party
The controlling party is C E F Hunt.
9 Other information
MVM Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
Units 7-9
Dawkins Road Industrial Estate
Poole
Dorset
BH15 4JP
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