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Registered Number: 11201372
England and Wales

 

 

 

RESET MSM LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of Reset MSM Ltd for the year ended 28 February 2023 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the director of Reset MSM Ltd in accordance with our terms of engagement. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Reset MSM Ltd has kept adequate accounting records
and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Reset MSM Ltd.
You consider that Reset MSM Ltd is exempt from the statutory audit requirement for the period and we have not been instructed to carry out an audit or a review of the financial statements of Reset MSM Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.


Burton Varley Ltd
Suite 3, 2nd Floor, Didsbury House
748 - 754 Wilmslow Road
Manchester
M20 2DW
28 November 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 3,870   
Tangible fixed assets 4 1,173    1,467 
5,043    1,467 
Current assets      
Debtors 1,044    399 
Creditors: amount falling due within one year (375,347)   (354,090)
Net current liabilities (374,303)   (353,691)
 
Total assets less current liabilities (369,260)   (352,224)
Net liabilities (369,260)   (352,224)
 

Capital and reserves
     
Called up share capital 5 1    1 
Profit and loss account (369,261)   (352,225)
Shareholder's funds (369,260)   (352,224)
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 November 2023 and were signed by:


-------------------------------
Joy Yaffe
Director
2
General Information
Reset MSM Ltd is a private company, limited by shares, registered in England and Wales, registration number 11201372, registration address C/O Burton Varley Ltd Suite 3, 2nd Floor, Didsbury House,, 748-754 Wilmslow Road, , Manchester, M20 2DW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Computer software development costs
Development costs of computer software are capitalised once a detailed program design has been established and are amortised on a straight line basis over 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 20% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 March 2022  
Additions 4,300    4,300 
Disposals  
At 28 February 2023 4,300    4,300 
Amortisation
At 01 March 2022  
Charge for year 430    430 
On disposals  
At 28 February 2023 430    430 
Net book values
At 28 February 2023 3,870    3,870 
At 28 February 2022  


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 March 2022 2,730    2,730 
Additions  
Disposals  
At 28 February 2023 2,730    2,730 
Depreciation
At 01 March 2022 1,263    1,263 
Charge for year 294    294 
On disposals  
At 28 February 2023 1,557    1,557 
Net book values
Closing balance as at 28 February 2023 1,173    1,173 
Opening balance as at 01 March 2022 1,467    1,467 


5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
 

3