6 false false false false false false false false false false true false false false false false false No description of principal activity 2024-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05677316 2024-03-01 2025-02-28 05677316 2025-02-28 05677316 2024-02-29 05677316 2023-02-01 2024-02-29 05677316 2024-02-29 05677316 2023-01-31 05677316 core:MotorVehicles 2024-03-01 2025-02-28 05677316 bus:Director1 2024-03-01 2025-02-28 05677316 bus:Director2 2024-03-01 2025-02-28 05677316 core:MotorVehicles 2024-02-29 05677316 core:MotorVehicles 2025-02-28 05677316 core:WithinOneYear 2025-02-28 05677316 core:WithinOneYear 2024-02-29 05677316 core:ShareCapital 2025-02-28 05677316 core:ShareCapital 2024-02-29 05677316 core:RetainedEarningsAccumulatedLosses 2025-02-28 05677316 core:RetainedEarningsAccumulatedLosses 2024-02-29 05677316 core:BetweenOneFiveYears 2025-02-28 05677316 core:BetweenOneFiveYears 2024-02-29 05677316 core:MotorVehicles 2024-02-29 05677316 bus:SmallEntities 2024-03-01 2025-02-28 05677316 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 05677316 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 05677316 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 05677316 bus:FullAccounts 2024-03-01 2025-02-28 05677316 core:OfficeEquipment 2024-03-01 2025-02-28 05677316 core:OfficeEquipment 2024-02-29 05677316 core:OfficeEquipment 2025-02-28
COMPANY REGISTRATION NUMBER: 05677316
Marvit Limited
Unaudited financial statements
28 February 2025
Marvit Limited
Statement of financial position
28 February 2025
2025
2024
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,792
4,619
Current assets
Debtors
6
448,175
141,643
Cash at bank and in hand
87,938
1,489,682
---------
-----------
536,113
1,631,325
Creditors: Amounts falling due within one year
7
( 228,468)
( 1,451,877)
---------
-----------
Net current assets
307,645
179,448
---------
---------
Total assets less current liabilities
309,437
184,067
Provisions
Taxation including deferred tax
( 448)
( 2,300)
---------
---------
Net assets
308,989
181,767
---------
---------
Capital and reserves
Called up share capital
20
20
Profit and loss account
308,969
181,747
---------
---------
Shareholders funds
308,989
181,767
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2025 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 12 June 2025 , and are signed on behalf of the board by:
W Sikorski
M Leosz
Director
Director
Company registration number: 05677316
Marvit Limited
Notes to the financial statements
Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Thorburn Way, London, SW19 2UL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% straight line
Office equipment
-
33% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 6 (2024: 5 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 March 2024
42,842
12,433
55,275
Additions
1,630
1,630
-------
-------
-------
At 28 February 2025
42,842
14,063
56,905
-------
-------
-------
Depreciation
At 1 March 2024
39,136
11,520
50,656
Charge for the year
3,705
752
4,457
-------
-------
-------
At 28 February 2025
42,841
12,272
55,113
-------
-------
-------
Carrying amount
At 28 February 2025
1
1,791
1,792
-------
-------
-------
At 29 February 2024
3,706
913
4,619
-------
-------
-------
6. Debtors
2025
2024
£
£
Trade debtors
76,650
Amounts owed by group undertakings and undertakings in which the company has a participating interest
339,324
Other debtors
32,201
141,643
---------
---------
448,175
141,643
---------
---------
7. Creditors: Amounts falling due within one year
2025
2024
£
£
Trade creditors
19,688
19,465
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,370,153
Social security and other taxes
50,125
44,736
Other creditors
158,655
17,523
---------
-----------
228,468
1,451,877
---------
-----------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2025
2024
£
£
Not later than 1 year
19,864
23,017
Later than 1 year and not later than 5 years
27,217
11,476
-------
-------
47,081
34,493
-------
-------
9. Transactions with directors
During the year the company operated loans with the directors at an interest rate of 2.25%. At the year end the company owed the directors £144,150 (2024: The directors owed the company £15,486). The maximum amount overdrawn during the year was £28,075.
10. Parent company
The parent company of Marvit Limited is Heromax Limited and its registered office is 7 Thorburn Way, London, United Kingdom, SW19 2UL.