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MVP ENGINEERING LIMITED - Company Information

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Draft

MVP Engineering Limited

Registered Number:05957017

For the year ended 31 December 2016

England and Wales

Unaudited Financial Statements

Draft

For the year ended 31 December 2016

MVP Engineering Limited

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

Draft

As at 31 December 2016

MVP Engineering Limited

Statement of Financial Position

Registered Number :

05957017

2015

2016

Notes

Fixed assets

Property, plant and equipment

77,026

100,649

77,026

100,649

Current assets

Inventories

9,781

11,140

Trade and other receivables

80,772

83,306

507,587

Cash and cash equivalents

624,595

719,041

598,140

Trade and other payables: amounts falling due within one

year

(131,090)

(156,325)

467,050

562,716

Net current assets

Total assets less current liabilities

639,742

567,699

(13,413)

(17,700)

Provisions for liabilities

626,329

Net assets

549,999

Capital and reserves

Called up share capital

1,000

Retained earnings

625,329

548,999

626,329

549,999

Shareholders' funds

For the year ended 31 December 2016 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 financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006

The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of

each financial year and of its profit or loss for each financial year in accordance with the requirements of Section

394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial

statements, so far as applicable to the company.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

Mr.M.V.Pinner Director

These financial statements were approved and authorised for issue by the Board on 20 April 2017 and were signed by:

The notes form part of these financial statements

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Draft

For the year ended 31 December 2016

MVP Engineering Limited

Notes to the Financial Statements

Statutory Information

MVP Engineering Limited is a private limited company, limited by shares, domiciled in England and Wales, registration

number 05957017.

Registered address:

Ferry Quay

Woodbridge

Suffolk

IP12 1BW

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial

Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the

Companies Act 2006. The financial statements have been prepared under the historical costs convention as

modified by the revaluation of certain assets.

Revenue recognition

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Property, plant and equipment

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Land and buildings

25% Per annum on cost

Plant and machinery

25% Reducing balance

33% per annum on cost

Computer equipment

25% Reducing balance

Motor vehicles

Inventories

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Hire purchase and leasing commitments

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

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For the year ended 31 December 2016

MVP Engineering Limited

Notes to the Financial Statements Continued

2. Property, plant and equipment

Total

Computer

equipment

Motor vehicles

Plant and

machinery

Land and

buildings

Cost or

valuation

At 01 January 2016

255,098

750

15,000

232,000

7,348

2,858

Additions

(750)

Disposals

(750)

At 31 December 2016

232,000

15,000

2,858

257,206

7,348

Provision for depreciation and impairment

At 01 January 2016

154,449

248

3,750

143,104

7,347

Charge for year

25,979

943

2,812

22,224

(248)

On disposal

At 31 December 2016

180,180

943

6,562

165,328

7,347

At 31 December 2016

Net book value

66,672

8,438

1,915

77,026

At 31 December 2015

88,896

11,250

502

100,649

3. Trade and other receivables

2015

2016

Trade debtors

72,106

73,956

Other debtors

11,200

6,816

80,772

83,306

4. Trade and other payables: amounts falling due within one year

2015

2016

Trade creditors

22,877

24,851

Taxation and social security

95,516

64,037

Other creditors

37,932

42,202

156,325

131,090

5. Related party transactions

The director, Mr.M.V.Pinner, owns a majority of the share capital of the company, and therefore is the controlling

party. He had loaned the company £34,229 interest-free, at the balance sheet date.

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For the year ended 31 December 2016

MVP Engineering Limited

Notes to the Financial Statements Continued

6. Guarantees and other financial commitments

The company operates a non-contributory pension scheme for the benefit of its director and one other employee.

It is a defined contribution scheme and contributions are charged in the profit and loss account as they are incurred.

The charge for the year under review was £2,400 (2015 - £2,400), comprising £1,200 (2015 - £1,200) in respect of

the director, and £1,200 (2015 - £1,200) in respect of an employee.

Pension commitments

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