1 January 2022 v2023.19.2 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP130848412022-01-012022-12-31130848412022-12-31130848412021-12-3113084841core:WithinOneYear2022-12-3113084841core:WithinOneYear2021-12-3113084841core:ShareCapital2022-12-3113084841core:ShareCapital2021-12-3113084841core:RetainedEarningsAccumulatedLosses2022-12-3113084841core:RetainedEarningsAccumulatedLosses2021-12-3113084841bus:Director12022-01-012022-12-3113084841bus:Director22022-01-012022-12-3113084841bus:Director32022-01-012022-12-3113084841bus:RegisteredOffice2022-01-012022-12-3113084841core:LandBuildings2022-01-012022-12-31130848412020-12-162021-12-3113084841core:LandBuildings2022-12-311308484112022-01-012022-12-3113084841countries:EnglandWales2022-01-012022-12-3113084841bus:AuditExemptWithAccountantsReport2022-01-012022-12-3113084841bus:PrivateLimitedCompanyLtd2022-01-012022-12-3113084841bus:SmallEntities2022-01-012022-12-3113084841bus:FullAccounts2022-01-012022-12-31
Company registration number:
13084841
MSM Developments Ltd
Unaudited Filleted Financial Statements for the year ended
31 December 2022
MSM Developments Ltd
Statement of Financial Position
31 December 2022
20222021
Note££
Fixed assets    
Tangible assets 5
200,911
  -  
Current assets    
Cash at bank and in hand
18,147
 
150,099
 
Creditors: amounts falling due within one year 6
(218,111
)
(150,300
)
Net current liabilities
(199,964
)
(201
)
Total assets less current liabilities 947   (201 )
Capital and reserves    
Called up share capital
99
 
99
 
Profit and loss account
848
 
(300
)
Shareholders funds/(deficit)
947
 
(201
)
For the year ending
31 December 2022
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
26 September 2023
, and are signed on behalf of the board by:
N Haydari
M Jan
Z Omari
DirectorDirectorDirector
Company registration number:
13084841
MSM Developments Ltd
Notes to the Financial Statements
Year ended
31 December 2022

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
80 Royal Parade Ground Floor
,
Plymouth
,
Devon
,
P11 1EW
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 50 years

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

4 Average number of employees

The average number of persons employed by the company during the year was
3
(2021:
3
).

5 Tangible assets

Land and buildings
£
Cost  
At
1 January 2022
-  
Additions
202,233
 
At
31 December 2022
202,233
 
Depreciation  
At
1 January 2022
-  
Charge
1,322
 
At
31 December 2022
1,322
 
Carrying amount  
At
31 December 2022
200,911
 
At 31 December 2021 -  

Investment property

Included in land and buildings are the following amounts in relation to investment properties:
2022
£
Carrying amount at
1 January 2022
-  
Additions
202,233
 
Carrying amount at
31 December 2022
202,233
 

6 Creditors: amounts falling due within one year

20222021
££
Taxation and social security
579
  -  
Other creditors
217,532
 
150,300
 
218,111
 
150,300