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Registered number: 07708022
MVS Autos Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Riverglade Accountancy Ltd
74 Yr Aran
Dunvant
Swansea
SA2 7PX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07708022
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,871 3,819
2,871 3,819
CURRENT ASSETS
Stocks 5 12,500 2,000
Debtors 6 40,000 10,000
Cash at bank and in hand 2,854 2,223
55,354 14,223
Creditors: Amounts Falling Due Within One Year 7 (247,192 ) (118,962 )
NET CURRENT ASSETS (LIABILITIES) (191,838 ) (104,739 )
TOTAL ASSETS LESS CURRENT LIABILITIES (188,967 ) (100,920 )
Creditors: Amounts Falling Due After More Than One Year 8 (13,688 ) (15,137 )
NET LIABILITIES (202,655 ) (116,057 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (202,657 ) (116,059 )
SHAREHOLDERS' FUNDS (202,655) (116,057)
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R J Woods
Director
24/07/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MVS Autos Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07708022 . The registered office is Rear of High Street, Chapel Lane, Warmley, Bristol, BS15 4NF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 3)
4 3
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2023 5,000 300 5,300
As at 31 July 2024 5,000 300 5,300
Depreciation
As at 1 August 2023 1,250 231 1,481
Provided during the period 938 10 948
As at 31 July 2024 2,188 241 2,429
Net Book Value
As at 31 July 2024 2,812 59 2,871
As at 1 August 2023 3,750 69 3,819
5. Stocks
2024 2023
£ £
Stock 12,500 2,000
Page 3
Page 4
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 40,000 10,000
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 7,313
Other taxes and social security 32,363 36,414
Net wages 72 72
Other creditors 214,757 75,163
247,192 118,962
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,688 10,137
Other creditors 5,000 5,000
13,688 15,137
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1.00 each 2 2
Page 4