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REGISTERED NUMBER: 09392938 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

MSAS ENTERPRISES LIMITED

MSAS ENTERPRISES LIMITED (REGISTERED NUMBER: 09392938)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MSAS ENTERPRISES LIMITED

COMPANY INFORMATION
for the year ended 31 May 2023







DIRECTORS: M J Beston
Mrs S Beston
A M Beston





SECRETARY: Mrs S Beston





REGISTERED OFFICE: 12 Alma Square
Scarborough
North Yorkshire
YO11 1JU





REGISTERED NUMBER: 09392938 (England and Wales)

MSAS ENTERPRISES LIMITED (REGISTERED NUMBER: 09392938)

STATEMENT OF FINANCIAL POSITION
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 452,751 127,713
Investments 5 200 200
Investment property 6 129,777 129,777
582,728 257,690

CURRENT ASSETS
Debtors 7 1,018 -
Cash at bank and in hand 543,206 653,025
544,224 653,025
CREDITORS
Amounts falling due within one year 8 68,727 67,762
NET CURRENT ASSETS 475,497 585,263
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,058,225

842,953

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 1,057,825 842,553
1,058,225 842,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2024 and were signed on its behalf by:




M J Beston - Director Mrs S Beston - Director




A M Beston - Director


MSAS ENTERPRISES LIMITED (REGISTERED NUMBER: 09392938)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2023


1. STATUTORY INFORMATION

MSAS Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The company has a net asset position and a healthy bank position and the directors are satisfied that there are sufficient resources in place to continue operating for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Preparation of consolidated financial statements
The financial statements contain information about MSAS Enterprises Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Critical judgements in applying the company's policies
No significant judgements have had to be made by management in preparing these financial statements.

Critical accounting estimates and assumptions
The directors do not consider that any other estimates and assumptions used in the preparation of these financial statements have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Revenue
Revenue represents goods and services supplied, excluding value added tax. Revenue is recognised to the extent that the company has obtained the right to consideration through its performance and is measured at the fair value of the right to consideration.

Property, plant and equipment
Items of property, plant and equipment are initially measured at cost. After initial recognition items of property, plant and equipment are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life.

Freehold and leasehold property - 2% and 10% straight line basis

Investment property
Investment properties are initially measured at cost, including transaction costs. After initial recognition investment properties whose fair value can be measured reliably are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

MSAS ENTERPRISES LIMITED (REGISTERED NUMBER: 09392938)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade, other accounts receivable and payable and loans to related parties.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Debt instruments such as loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised costs using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Long
property leasehold Totals
£    £    £   
COST
At 1 June 2022 114,094 29,011 143,105
Additions 331,742 - 331,742
At 31 May 2023 445,836 29,011 474,847
DEPRECIATION
At 1 June 2022 13,654 1,738 15,392
Charge for year 6,124 580 6,704
At 31 May 2023 19,778 2,318 22,096
NET BOOK VALUE
At 31 May 2023 426,058 26,693 452,751
At 31 May 2022 100,440 27,273 127,713

MSAS ENTERPRISES LIMITED (REGISTERED NUMBER: 09392938)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2022
and 31 May 2023 200
NET BOOK VALUE
At 31 May 2023 200
At 31 May 2022 200

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 129,777
NET BOOK VALUE
At 31 May 2023 129,777
At 31 May 2022 129,777

The fair value of the property at each year end has been arrived at on the basis of valuations carried out by the directors of the company who are not professionally qualified valuers.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,018 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 16,573 -
Amounts owed to group undertakings 45,029 46,510
Taxation and social security 5,835 845
Other creditors 1,290 20,407
68,727 67,762

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors operate loan accounts with the company which are repayable on demand. The following advances and credits subsisted during the years ended 2023 and 2022 in respect to one of the directors.

20232022
££
Balance outstanding at start of year- -
Amounts advanced1,018 70,000
Amounts repaid- (70,000)
Amounts written off- -
Amounts waived- -
Balance outstanding at end of year1,018 -

Interest has been charged at the HMRC beneficial loan rate whilst overdrawn.

MSAS ENTERPRISES LIMITED (REGISTERED NUMBER: 09392938)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2023


10. RELATED PARTY DISCLOSURES

The directors have made interest free loans to the company. At the year end the amount owed to them was £nil (2022 - £17,857).