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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
Page
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MSM Construction (Northern) Ltd. Company Information for the year ended 28 February 2023
Directors
NA Moon D Segger K Segger
Secretary
NA Moon
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
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MSM Construction (Northern) Ltd. Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
209,122 
209,296 
Current assets
Debtors
261,776 
113,484 
Cash at bank and in hand
1,147,744 
1,013,910 
1,409,520 
1,127,394 
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 
Capital and reserves
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
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MSM Construction (Northern) Ltd. Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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 taxation
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.
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MSM Construction (Northern) Ltd. Notes to the Accounts for the year ended 28 February 2023
Leased assets
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 
Depreciation
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 
Net book value
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 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
22,526 
113,484 
Accrued income and prepayments
239,250 
- 
261,776 
113,484 
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)
Accruals
5,460 
40,950 
436,331 
433,171 
7
Average number of employees
During the year the average number of employees was 7 (2022: 7).
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