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Unaudited Financial Statements |
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for the Period 1 May 2017 to 31 March 2018 |
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for |
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MHV Products Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 1 May 2017 to 31 March 2018 |
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for |
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MHV Products Limited |
MHV Products Limited (Registered number: 01207264) |
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Contents of the Financial Statements |
for the Period 1 May 2017 to 31 March 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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MHV Products Limited |
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Company Information |
for the Period 1 May 2017 to 31 March 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
55 Staines Road West |
Sunbury-on-Thames |
Middlesex |
TW16 7AH |
MHV Products Limited (Registered number: 01207264) |
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Balance Sheet |
31 March 2018 |
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31.3.18 | 30.4.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps 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 Sections 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. |
MHV Products Limited (Registered number: 01207264) |
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Balance Sheet - continued |
31 March 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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MHV Products Limited (Registered number: 01207264) |
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Notes to the Financial Statements |
for the Period 1 May 2017 to 31 March 2018 |
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1. | STATUTORY INFORMATION |
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MHV Products Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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MHV Products Limited (Registered number: 01207264) |
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Notes to the Financial Statements - continued |
for the Period 1 May 2017 to 31 March 2018 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 May 2017 |
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Additions |
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At 31 March 2018 |
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DEPRECIATION |
At 1 May 2017 |
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Charge for period |
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At 31 March 2018 |
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NET BOOK VALUE |
At 31 March 2018 |
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At 30 April 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 30.4.17 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.18 | 30.4.17 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.18 | 30.4.17 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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MHV Products Limited (Registered number: 01207264) |
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Notes to the Financial Statements - continued |
for the Period 1 May 2017 to 31 March 2018 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.18 | 30.4.17 |
£ | £ |
Amount due to factor | - | 143,024 |
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The company has provided to its factor (RBS Invoice Finance Ltd), a fixed charge on the company's book debts |
and a floating charge on its total assets. |
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The amount due to the factor, is included within other creditors. |
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9. | RELATED PARTY DISCLOSURES |
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The company's directors have provided a personal guarantee in the sum of £40,000 on a joint and several basis to |
the company's factor, RBS Invoice Finance Ltd. |
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The company paid for consultancy services amounting to £28,400 on normal commercial terms from |
Woodthorpe Engineering Ltd, whose directors were formerly directors of the company. |