Registered number
11540213
Mvest Limited
Filleted Accounts
31 August 2024
Mvest Limited
Registered number: 11540213
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 983 1,620
Investment property 4 270,000 270,000
270,983 271,620
Current assets
Debtors 5 2,868 2,868
Cash at bank and in hand 51,273 44,618
54,141 47,486
Creditors: amounts falling due within one year 6 (88,065) (88,113)
Net current liabilities (33,924) (40,627)
Total assets less current liabilities 237,059 230,993
Creditors: amounts falling due after more than one year 7 (189,230) (187,296)
Provisions for liabilities (186) (307)
Net assets 47,643 43,390
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 4,950 4,950
Profit and loss account 42,593 38,340
Shareholder's funds 47,643 43,390
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 member has 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.
Mr S W Munday
Director
Approved by the board on 12 November 2024
Mvest Limited
Notes to the Accounts
for the year ended 31 August 2024
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 rental of property.
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 over 5 years
Investments
Investment property is measured at fair value. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023 3,197
At 31 August 2024 3,197
Depreciation
At 1 September 2023 1,577
Charge for the year 637
At 31 August 2024 2,214
Net book value
At 31 August 2024 983
At 31 August 2023 1,620
4 Investment property
Other
investments
£
Cost
At 1 September 2023 270,000
At 31 August 2024 270,000
5 Debtors 2024 2023
£ £
Trade debtors 2,868 2,868
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,830 5,458
Taxation and social security costs 3,210 3,115
Other creditors 82,025 79,540
88,065 88,113
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 189,230 187,296
8 Revaluation reserve 2024 2023
£ £
At 1 September 2023 4,950 -
Gain on revaluation of land and buildings - 4,950
At 31 August 2024 4,950 4,950
9 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr S W Munday
Directors' Current Account 10,795 - 1,000 11,795
Mrs E F Munday
Directors' Current Account 65,000 - - 65,000
75,795 - 1,000 76,795
# Other information
Mvest Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Lancer House
Hussar Court
Waterlooville
England
PO7 7SE
Mvest Limited 11540213 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2024 Mr S W Munday No description of principal activity 11540213 2022-09-01 2023-08-31 11540213 core:RevaluationReserve core:LandBuildings 2022-09-01 2023-08-31 11540213 core:WithinOneYear 2023-08-31 11540213 core:AfterOneYear 2023-08-31 11540213 core:ShareCapital 2023-08-31 11540213 core:OtherReservesSubtotal 2023-08-31 11540213 core:RetainedEarningsAccumulatedLosses 2023-08-31 11540213 core:RevaluationReserve 2022-08-31 11540213 2023-09-01 2024-08-31 11540213 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 11540213 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 11540213 bus:Director40 2023-09-01 2024-08-31 11540213 1 2023-09-01 2024-08-31 11540213 2 2023-09-01 2024-08-31 11540213 core:PlantMachinery 2023-09-01 2024-08-31 11540213 core:RevaluationReserve core:LandBuildings 2023-09-01 2024-08-31 11540213 bus:Director1 2023-09-01 2024-08-31 11540213 bus:Director1 1 2023-09-01 2024-08-31 11540213 bus:Director2 2023-09-01 2024-08-31 11540213 bus:Director2 1 2023-09-01 2024-08-31 11540213 countries:England 2023-09-01 2024-08-31 11540213 bus:FRS102 2023-09-01 2024-08-31 11540213 bus:FilletedAccounts 2023-09-01 2024-08-31 11540213 2024-08-31 11540213 core:WithinOneYear 2024-08-31 11540213 core:AfterOneYear 2024-08-31 11540213 core:ShareCapital 2024-08-31 11540213 core:OtherReservesSubtotal 2024-08-31 11540213 core:RetainedEarningsAccumulatedLosses 2024-08-31 11540213 core:PlantMachinery 2024-08-31 11540213 core:RevaluationReserve 2024-08-31 11540213 bus:Director1 1 2024-08-31 11540213 bus:Director2 1 2024-08-31 11540213 2023-08-31 11540213 core:PlantMachinery 2023-08-31 11540213 core:RevaluationReserve 2023-08-31 11540213 bus:Director1 1 2023-08-31 11540213 bus:Director2 1 2023-08-31 iso4217:GBP xbrli:pure