Murvi Motorcaravans Limited
Registered number: 03029894
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 11,118 10,061
Current assets
Stocks 327,365 411,017
Debtors 5 31,380 46,801
Cash at bank and in hand 203,520 213,567
562,265 671,385
Creditors: amounts falling due within one year 6 (317,254) (377,338)
Net current assets 245,011 294,047
Total assets less current liabilities 256,129 304,108
Creditors: amounts falling due after more than one year 7 (4,166) (14,222)
Net assets 251,963 289,886
Capital and reserves
Called up share capital 165 165
Share premium 64,925 64,925
Profit and loss account 186,873 224,796
Shareholders' funds 251,963 289,886
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.
R W Kneebone
Director
Approved by the board on 23 April 2025
Murvi Motorcaravans Limited
Notes to the Accounts
for the year ended 31 December 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.
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Costs which are separately identifiable and relate to product development are capitalised because they will derive future benefits for the company. These costs are amortised over the period shown in note 1(c) above. Other research and development expenses are charged to profit and loss account in the year in which they are incurred.

Development costs 33% on cost (commencing in year following cost)
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:
Leasehold improvements 10% on cost
Plant and equipment 25% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 21
3 Intangible fixed assets £
Development costs:
Cost
At 1 January 2024 185,228
At 31 December 2024 185,228
Amortisation
At 1 January 2024 185,228
At 31 December 2024 185,228
Net book value
At 31 December 2024 -
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 54,051 98,128 152,179
Additions 1,941 3,150 5,091
At 31 December 2024 55,992 101,278 157,270
Depreciation
At 1 January 2024 52,094 90,024 142,118
Charge for the year 1,203 2,831 4,034
At 31 December 2024 53,297 92,855 146,152
Net book value
At 31 December 2024 2,695 8,423 11,118
At 31 December 2023 1,957 8,104 10,061
5 Debtors 2024 2023
£ £
Trade debtors 337 7,743
Corporation tax - 8,769
Prepayments and other debtors 31,043 30,289
31,380 46,801
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 200,761 331,602
Other taxes and social security costs 46,793 23,393
Other creditors 59,700 12,343
317,254 377,338
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,166 14,222
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 44,422 31,057
9 Other information
Murvi Motorcaravans Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Mill
Kingsteignton Road
Newton Abbot
Devon
TQ12 2QA
Murvi Motorcaravans Limited 03029894 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts July 2024 R W Kneebone No description of principal activity 03029894 2023-01-01 2023-12-31 03029894 core:WithinOneYear 2023-12-31 03029894 core:AfterOneYear 2023-12-31 03029894 core:ShareCapital 2023-12-31 03029894 core:SharePremium 2023-12-31 03029894 core:RetainedEarningsAccumulatedLosses 2023-12-31 03029894 core:AllPeriods 2023-12-31 03029894 2024-01-01 2024-12-31 03029894 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03029894 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 03029894 bus:Director40 2024-01-01 2024-12-31 03029894 1 2024-01-01 2024-12-31 03029894 2 2024-01-01 2024-12-31 03029894 core:LandBuildings 2024-01-01 2024-12-31 03029894 core:PlantMachinery 2024-01-01 2024-12-31 03029894 countries:England 2024-01-01 2024-12-31 03029894 bus:FRS102 2024-01-01 2024-12-31 03029894 bus:FilletedAccounts 2024-01-01 2024-12-31 03029894 2024-12-31 03029894 core:WithinOneYear 2024-12-31 03029894 core:AfterOneYear 2024-12-31 03029894 core:ShareCapital 2024-12-31 03029894 core:SharePremium 2024-12-31 03029894 core:RetainedEarningsAccumulatedLosses 2024-12-31 03029894 core:Goodwill 2024-12-31 03029894 core:LandBuildings 2024-12-31 03029894 core:PlantMachinery 2024-12-31 03029894 core:AllPeriods 2024-12-31 03029894 2023-12-31 03029894 core:Goodwill 2023-12-31 03029894 core:LandBuildings 2023-12-31 03029894 core:PlantMachinery 2023-12-31 iso4217:GBP xbrli:pure