Registration number: 13560317

MSVC LTD

Contents

Abridged Balance Sheet	1
Notes to the Unaudited Abridged Financial Statements	2 to 4

MSVC LTD

(Registration number: 13560317)
Abridged Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	494,487	555,170
Tangible assets	5	71,570	86,366
		566,057	641,536
Current assets
Debtors		1,041,239	943,504
Cash at bank and in hand		100,427	-
		1,141,666	943,504
Creditors: Amounts falling due within one year		(798,419)	(708,626)
Net current assets		343,247	234,878
Net assets		909,304	876,414
Capital and reserves
Called up share capital		700,000	700,000
Profit and loss account		209,304	176,414
Total equity		909,304	876,414

For the financial period 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 of its accounts for the period in question in accordance with section 476; and
	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

A I R Moore

Director

MSVC LTD

Notes to the Unaudited Abridged Financial Statements for the Period from 1 July 2023 to 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the Board on 29 September 2025.

2	Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

MSVC LTD

Notes to the Unaudited Abridged Financial Statements for the Period from 1 July 2023 to 31 December 2024

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery etc.	20% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	5% on cost

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2023 - 2).

MSVC LTD

Notes to the Unaudited Abridged Financial Statements for the Period from 1 July 2023 to 31 December 2024

4	Intangible assets

	Total £
Cost or valuation
At 1 July 2023	555,170
Disposals	(20,589)
At 31 December 2024	534,581
Amortisation
Amortisation charge	40,094
At 31 December 2024	40,094
Carrying amount
At 31 December 2024	494,487
At 30 June 2023	555,170

5	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 July 2023	117,395	117,395
Additions	25,426	25,426
At 31 December 2024	142,821	142,821
Depreciation
At 1 July 2023	31,029	31,029
Charge for the period	40,222	40,222
At 31 December 2024	71,251	71,251
Carrying amount
At 31 December 2024	71,570	71,570
At 30 June 2023	86,366	86,366