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Company Registration No. 05295802 (England and Wales)
MVI Broadcast Systems Limited Unaudited accounts for the year ended 31 December 2024
MVI Broadcast Systems Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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MVI Broadcast Systems Limited Company Information for the year ended 31 December 2024
Director
Maya Gocheva-Ash
Company Number
05295802 (England and Wales)
Registered Office
Brookmans Park Teleport Great North Road Hatfield Hertfordshire AL9 6NE
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MVI Broadcast Systems Limited Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Intangible assets
4
57,113
68,112
Current assets
Debtors
5
40,104
35,724
Cash at bank and in hand
476
3,186
40,580
38,910
Creditors: amounts falling due within one year
6
(21,166)
(23,455)
Net current assets
19,414
15,455
Net assets
76,527
83,567
Capital and reserves
Called up share capital
100
100
Profit and loss account
76,427
83,467
Shareholders' funds
76,527
83,567
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 September 2025 and were signed on its behalf by
Maya Gocheva-Ash Director Company Registration No. 05295802
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MVI Broadcast Systems Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
MVI Broadcast Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 05295802. The registered office is Brookmans Park Teleport, Great North Road, Hatfield, Hertfordshire, AL9 6NE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation is calculated, using the straight-line method, to allocate the depreciable amount of the assets to their residual values over their estimated useful lives. The estimated useful life of computer software is 10 years. Amortisation is included in Administrative Expenses in the profit and loss account. Where factors, such as technological advancement or changes in market price, indicate that residual value or useful life have changed, the residual value, useful life or amortisation rate are amended prospectively to reflect the new circumstances. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Costs associated with maintaining computer software are recognised as an expense as incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the company are recognised as intangible assets when the following criteria are met: - it is technically feasible to complete the software so that it will be available for use; - management intends to complete the software and use or sell it; - there is an ability to use or sell the software; - it can be demonstrated how the software will generate probable future economic benefits; - adequate technical, financial and other resources to complete the development and to use or sell the software are available; and - the expenditure attributable to the software during its development can be reliably measured. Other development expenditures that do not meet these criteria are recognised as an expense as incurred. Development costs previously recognised as an expense are not recognised as an asset in a subsequent period.
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MVI Broadcast Systems Limited Notes to the Accounts for the year ended 31 December 2024
Going concern
The company meets its funding requirements through its intra group funding facility. The current economic conditions continue to create uncertainty over the level of demand for the company's products. The company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate within the level of its current facilities. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
4
Intangible fixed assets
Other
£
Cost
At 1 January 2024
100,790
At 31 December 2024
100,790
Amortisation
At 1 January 2024
32,678
Charge for the year
10,999
At 31 December 2024
43,677
Net book value
At 31 December 2024
57,113
At 31 December 2023
68,112
5
Debtors
2024
2023
£
£
Amounts falling due within one year
Trade debtors
4,800
420
Amounts due from group undertakings etc.
35,304
35,304
40,104
35,724
6
Creditors: amounts falling due within one year
2024
2023
£
£
VAT
1,291
920
Trade creditors
14,249
2,773
Taxes and social security
61
1,254
Loans from directors
96
224
Accruals
5,469
18,284
21,166
23,455
7
Transactions with related parties
During the year the Company provided software licences to Playbox Technology UK Limited, a company under common control. Revenue of £11,363 was recognised in the year for such licences (2023: £34,975). At the year end the Company held loan balances due from entities under common control of £1,900 (2023: £1,900) and loan balances due to entities under common control of £33,404 (2023: £33,404). Such loans are unsecured, interest-free, have no fixed date of repayment and are repayable on demand
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MVI Broadcast Systems Limited Notes to the Accounts for the year ended 31 December 2024
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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