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REGISTERED NUMBER: 10856780 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 July 2023

for

MSC Roofing Limited

MSC Roofing Limited (Registered number: 10856780)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MSC Roofing Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: M S Cole





REGISTERED OFFICE: 75 Springfield Road
Chelmsford
Essex
CM2 6JB





REGISTERED NUMBER: 10856780 (England and Wales)





ACCOUNTANTS: NSO Associates LLP
75 Springfield Road
Chelmsford
Essex
CM2 6JB

MSC Roofing Limited (Registered number: 10856780)

Balance Sheet
31 July 2023

31.7.22 31.7.23
£    £    Notes £    £   
FIXED ASSETS
10,128 Tangible assets 4 7,999

CURRENT ASSETS
28,201 Debtors 5 28,329
9,763 Cash at bank 7,965
37,964 36,294
CREDITORS
15,980 Amounts falling due within one year 6 25,662
21,984 NET CURRENT ASSETS 10,632
32,112 TOTAL ASSETS LESS CURRENT
LIABILITIES

18,631

CREDITORS
(18,622 ) Amounts falling due after more than one
year

7

(19,288

)

(1,749 ) PROVISIONS FOR LIABILITIES (1,376 )
11,741 NET (LIABILITIES)/ASSETS (2,033 )

CAPITAL AND RESERVES
2 Called up share capital 8 2
11,739 Retained earnings (2,035 )
11,741 SHAREHOLDERS' FUNDS (2,033 )

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

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

The director acknowledges his 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.

MSC Roofing Limited (Registered number: 10856780)

Balance Sheet - continued
31 July 2023


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 director and authorised for issue on 18 January 2024 and were signed by:





M S Cole - Director


MSC Roofing Limited (Registered number: 10856780)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

MSC Roofing 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

MSC Roofing Limited (Registered number: 10856780)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
The financial statements have been prepared on a going concern basis.

At the balance sheet date the company was insolvent. The director has considered the company's position and anticipate that it will be able to meet current and future liabilities as they fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 19,438
Additions 435
At 31 July 2023 19,873
DEPRECIATION
At 1 August 2022 9,310
Charge for year 2,564
At 31 July 2023 11,874
NET BOOK VALUE
At 31 July 2023 7,999
At 31 July 2022 10,128

MSC Roofing Limited (Registered number: 10856780)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 10,000
DEPRECIATION
At 1 August 2022 2,500
Charge for year 1,875
At 31 July 2023 4,375
NET BOOK VALUE
At 31 July 2023 5,625
At 31 July 2022 7,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 18,960 21,010
Other debtors 9,369 7,191
28,329 28,201

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 7,384 4,049
Hire purchase contracts 1,998 1,998
Trade creditors 7,806 305
Taxation and social security 6,885 7,103
Other creditors 1,589 2,525
25,662 15,980

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 13,950 11,286
Hire purchase contracts 5,338 7,336
19,288 18,622

MSC Roofing Limited (Registered number: 10856780)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
2 Ordinary £1 2 2