Context. Angular momentum transport in accretion discs is often believed to be due to magnetohydrodynamic turbulence mediated by the magnetorotational instability (MRI). Despite an abundant literature on the MRI, the parameters governing the saturation amplitude of the turbulence are poorly understood and the existence of an asymptotic behaviour in the Ohmic diffusion regime has not been clearly established. Aims. We investigate the properties of the turbulent state in the small magnetic Prandtl number limit. Since this is extremely computationally expensive, we also study the relevance and range of applicability of the most common subgrid scale models for this problem. Methods. Unstratified shearing box simulations are per...