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REGISTERED NUMBER: 10696276 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

MSI MEDIA LIMITED

MSI MEDIA LIMITED (REGISTERED NUMBER: 10696276)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MSI MEDIA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: S Ibelgaupt
M Ibelgaupt





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 10696276 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

MSI MEDIA LIMITED (REGISTERED NUMBER: 10696276)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 30 30
Tangible assets 5 16,122 20,151
16,152 20,181

CURRENT ASSETS
Stocks 81,370 70,776
Debtors 6 54,050 43,603
Cash at bank 1,779 -
137,199 114,379
CREDITORS
Amounts falling due within one year 7 182,313 156,704
NET CURRENT LIABILITIES (45,114 ) (42,325 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(28,962

)

(22,144

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 (29,062 ) (22,244 )
SHAREHOLDERS' FUNDS (28,962 ) (22,144 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 11 March 2024 and were signed on its behalf by:



S Ibelgaupt - Director


MSI MEDIA LIMITED (REGISTERED NUMBER: 10696276)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

MSI Media 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance
Office equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MSI MEDIA LIMITED (REGISTERED NUMBER: 10696276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 30
NET BOOK VALUE
At 31 August 2023 30
At 31 August 2022 30

5. TANGIBLE FIXED ASSETS
Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 13,500 20,560 34,060
DEPRECIATION
At 1 September 2022 6,588 7,321 13,909
Charge for year 1,382 2,647 4,029
At 31 August 2023 7,970 9,968 17,938
NET BOOK VALUE
At 31 August 2023 5,530 10,592 16,122
At 31 August 2022 6,912 13,239 20,151

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 50,703 40,256
Other debtors 3,347 3,347
54,050 43,603

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 46,500 58,294
Trade creditors 17,162 12,074
Social security and other taxes 6,594 8,483
VAT 19,685 20,670
Other creditors 26,438 23,274
Directors' current accounts 63,434 31,409
Accrued expenses 2,500 2,500
182,313 156,704

MSI MEDIA LIMITED (REGISTERED NUMBER: 10696276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

8. RESERVES
Retained
earnings
£   

At 1 September 2022 (22,244 )
Deficit for the year (6,818 )
At 31 August 2023 (29,062 )

9. GOING CONCERN

At the balance sheet date the company had net deficiency of assets of £28,962 and was therefore dependant upon the continued support from its principle creditors, including the directors.

The directors have confirmed that they will continue to support the company for the foreseeable future.

The financial statements have therefore been prepared on the going concern basis.