Company Registration No. 5400370 (England and Wales)
MSM Construction (Northern) Ltd.
Unaudited accounts
for the year ended 28 February 2023
MSM Construction (Northern) Ltd.
Unaudited accounts
Contents
MSM Construction (Northern) Ltd.
Company Information
for the year ended 28 February 2023
Directors
NA Moon
D Segger
K Segger
Company Number
5400370 (England and Wales)
Registered Office
6 Crownest Road
Barnoldswick
Lancashire
BB18 5DD
Accountants
Pearson & Associates
Suite E, Canal Wharf
Eshton Road
Gargrave, Skipton
North Yorkshire
BD23 3SE
MSM Construction (Northern) Ltd.
Statement of financial position
as at 28 February 2023
Tangible assets
209,122
209,296
Cash at bank and in hand
1,147,744
1,013,910
Creditors: amounts falling due within one year
(436,331)
(433,171)
Net current assets
973,189
694,223
Total assets less current liabilities
1,182,311
903,519
Provisions for liabilities
Deferred tax
(39,733)
(39,766)
Net assets
1,142,578
863,753
Called up share capital
20
20
Profit and loss account
1,142,558
863,733
Shareholders' funds
1,142,578
863,753
For the year ending 28 February 2023 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by
NA Moon
Director
Company Registration No. 5400370
MSM Construction (Northern) Ltd.
Notes to the Accounts
for the year ended 28 February 2023
MSM Construction (Northern) Ltd. is a private company, limited by shares, registered in England and Wales, registration number 5400370. The registered office is 6 Crownest Road, Barnoldswick, Lancashire, BB18 5DD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
MSM Construction (Northern) Ltd.
Notes to the Accounts
for the year ended 28 February 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2022
253,310
146,714
759
25,768
426,551
Additions
55,400
-
-
2,200
57,600
Disposals
(44,500)
(15,500)
-
-
(60,000)
At 28 February 2023
264,210
131,214
759
27,968
424,151
At 1 March 2022
138,629
54,964
702
22,960
217,255
Charge for the year
24,955
21,303
14
1,250
47,522
On disposals
(40,787)
(8,961)
-
-
(49,748)
At 28 February 2023
122,797
67,306
716
24,210
215,029
At 28 February 2023
141,413
63,908
43
3,758
209,122
At 28 February 2022
114,681
91,750
57
2,808
209,296
Amounts falling due within one year
Trade debtors
22,526
113,484
Accrued income and prepayments
239,250
-
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
222,156
270,828
Taxes and social security
181,017
140,871
Loans from directors
27,698
(19,478)
7
Average number of employees
During the year the average number of employees was 7 (2022: 7).