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Registered number: 12404929
Msf Group Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Harris Accountancy Services Limited
Cobalt Square
83 Hagley Road
Birmingham
B16 8QG
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12404929
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,808 6,600
3,808 6,600
CURRENT ASSETS
Debtors 5 79,893 40,092
Cash at bank and in hand 17,775 227
97,668 40,319
Creditors: Amounts Falling Due Within One Year 6 (150,629 ) (104,284 )
NET CURRENT ASSETS (LIABILITIES) (52,961 ) (63,965 )
TOTAL ASSETS LESS CURRENT LIABILITIES (49,153 ) (57,365 )
Creditors: Amounts Falling Due After More Than One Year 7 (61,105 ) (80,741 )
NET LIABILITIES (110,258 ) (138,106 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (110,358 ) (138,206 )
SHAREHOLDERS' FUNDS (110,258) (138,106)
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mohsin Fazal
Director
06/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Msf Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12404929 . The registered office is Cobalt Square, 83 Hagley Road, C/O Harris Accountancy Services Ltd, Birmingham, B16 8QG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25%
Fixtures & Fittings 25%
Computer Equipment 33%
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2022: 20)
28 20
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2022 2,408 3,510 3,838 9,756
As at 31 October 2023 2,408 3,510 3,838 9,756
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 November 2022 602 1,170 1,384 3,156
Provided during the period 602 998 1,192 2,792
As at 31 October 2023 1,204 2,168 2,576 5,948
Net Book Value
As at 31 October 2023 1,204 1,342 1,262 3,808
As at 1 November 2022 1,806 2,340 2,454 6,600
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 21,761 39,992
Prepayments and accrued income 58,032 -
Called up share capital not paid 100 100
79,893 40,092
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - (1 )
Bank loans and overdrafts - 18,186
Other taxes and social security 6,521 8,464
Net wages 16,795 8,729
Other creditors - F Molu 70,000 60,000
Other creditors - Pension 1,092 833
Other creditors - DEA 9 16
Other creditors - T Molu 53,081 -
Accruals and deferred income - 1,500
Director's loan account 3,131 6,557
150,629 104,284
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 61,105 80,741
61,105 80,741
Page 4
Page 5
8. Share Capital
2023 2022
£ £
Called Up Share Capital not Paid 100 100
Amount of Allotted, Called Up Share Capital 100 100
Page 5