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Registration number: 05912517

MVG Devon Ltd
Unaudited Filleted Financial Statements
for the Year Ended 30 June 2025

MVG Devon Ltd

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 10

MVG Devon Ltd

Company Information

Director | Mr A Rubens

Company secretary | Mrs DJ Hill

Registered office | Unit 4 Old Gales Sawmills Court Street Moretonhampstead Devon TQ138LG

Accountants | M J Smith & Co Limited Chartered Accountants11 Yeo Business Park Axehayes Farm Clyst St. Mary Exeter Devon EX5 1DP

MVG Devon Ltd

(Registration number: 05912517)
Balance Sheet as at 30 June 2025

| Note | 2025 £ | 2024 £
fixed assets |  |  |
Intangible assets | 6 | 1,551 | 5,428
tangible assets | 7 | 281,875 | 283,941
|  | 283,426 | 289,369
Current assets |  |  |
stocks | 8 | 101,408 | 96,727
Debtors | 9 | 231,608 | 141,937
Cash at bank and in hand |  | 19,763 | 6,963
|  | 352,779 | 245,627
Creditors: Amounts falling due within one year | 10 | (279,624) | (227,978)
Net current assets |  | 73,155 | 17,649
Total assets less current liabilities |  | 356,581 | 307,018
Creditors: Amounts falling due after more than one year | 10 | (164,472) | (172,807)
Net assets |  | 192,109 | 134,211
capital and reserves |  |  |
Called up share capital |  | 100 | 100
Profit and loss account |  | 192,009 | 134,111
Total equity |  | 192,109 | 134,211

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 January 2026

MVG Devon Ltd

(Registration number: 05912517)
Balance Sheet as at 30 June 2025

......................................... Mr A Rubens Director

MVG Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

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:
Unit 4
Old Gales Sawmills
Court Street
Moretonhampstead
Devon
TQ138LG

These financial statements were authorised for issue by the director on 5 January 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

Going concern

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 that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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 income 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.

MVG Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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
Motor vehicles | 25% reducing balance basis
Plant and machinery | 25% reducing balance basis
Land and buildings | 5% per annum of 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 | 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

MVG Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

MVG Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 31 (2024 - 28).

4 | Profit before tax

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 27,195 | 25,607
Amortisation expense | 3,878 | 3,877

5 | Taxation on profits on ordinary activities

| Note | 2025 £ | 30 June 2024 £
Tax reconciliation |  |  |
UK corporation tax |  | 47,000 | 32,040
UK corporation tax adjustment to prior periods |  | (86) | -
|  | 46,914 | 32,040

MVG Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

6 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 July 2024 | 84,600 | 84,600
At 30 June 2025 | 84,600 | 84,600
Amortisation
At 1 July 2024 | 79,172 | 79,172
Amortisation charge | 3,877 | 3,877
At 30 June 2025 | 83,049 | 83,049
Carrying amount
At 30 June 2025 | 1,551 | 1,551
At 30 June 2024 | 5,428 | 5,428

7 | Tangible assets

| Land and buildings £ | Motor vehicles £ | Other property, plant and equipment £ | Total £
Cost or valuation
At 1 July 2024 | 326,589 | 76,276 | 127,961 | 530,826
Additions | 10,295 | 8,000 | 6,834 | 25,129
At 30 June 2025 | 336,884 | 84,276 | 134,795 | 555,955
Depreciation
At 1 July 2024 | 93,299 | 56,628 | 96,958 | 246,885
Charge for the year | 11,875 | 6,912 | 8,408 | 27,195
At 30 June 2025 | 105,174 | 63,540 | 105,366 | 274,080
Carrying amount
At 30 June 2025 | 231,710 | 20,736 | 29,429 | 281,875
At 30 June 2024 | 233,290 | 19,648 | 31,003 | 283,941

Included within the net book value of land and buildings above is £231,709 (2024 - £233,289) in respect of freehold land and buildings and £Nil (2024 - £Nil) in respect of long leasehold land and buildings.

MVG Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

8 | Stocks

| 2025 £ | 2024 £
Other inventories | 101,408 | 96,727

9 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | 113,996 | 129,773
Prepayments | 12,515 | 10,445
Other debtors | 105,097 | 1,719
| 231,608 | 141,937

10 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Bank loans and overdrafts | 12 | 8,556 | 21,287
trade creditors |  | 89,209 | 74,631
Taxation and social security |  | 119,731 | 84,670
Accruals and deferred income |  | 14,328 | 13,875
Other creditors |  | 47,097 | 32,071
Director's current account |  | 703 | 1,444
|  | 279,624 | 227,978

MVG Devon Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 12 | 164,472 | 172,807

11 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100

12 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 164,472 | 172,807

| 2025 £ | 2024 £
Current loans and borrowings
Bank borrowings | 8,556 | 8,776
Bank overdrafts | - | 12,511
| 8,556 | 21,287

13 | Dividends

Interim dividends paid

|  | 2025 £ |  | 2024 £
Interim dividend of 710.00 (2024 - 1,044.00) per each Ordinary dividends |  | 71,000 |  | 104,400

14 | Parent and ultimate parent undertaking

The ultimate controlling party is Mr A M Rubens by virtue of his 100% shareholding .