MSB Services Limited 10024939 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is that of building and construction services. Digita Accounts Production Advanced 6.30.9574.0 true 10024939 2022-09-01 2023-08-31 10024939 2023-08-31 10024939 core:CurrentFinancialInstruments 2023-08-31 10024939 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 10024939 core:MotorVehicles 2023-08-31 10024939 core:OfficeEquipment 2023-08-31 10024939 core:PlantMachinery 2023-08-31 10024939 bus:SmallEntities 2022-09-01 2023-08-31 10024939 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 10024939 bus:FullAccounts 2022-09-01 2023-08-31 10024939 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 10024939 bus:RegisteredOffice 2022-09-01 2023-08-31 10024939 bus:Director1 2022-09-01 2023-08-31 10024939 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10024939 core:MotorVehicles 2022-09-01 2023-08-31 10024939 core:OfficeEquipment 2022-09-01 2023-08-31 10024939 core:PlantMachinery 2022-09-01 2023-08-31 10024939 countries:EnglandWales 2022-09-01 2023-08-31 10024939 2022-08-31 10024939 core:MotorVehicles 2022-08-31 10024939 core:OfficeEquipment 2022-08-31 10024939 core:PlantMachinery 2022-08-31 10024939 2021-09-01 2022-08-31 10024939 2022-08-31 10024939 core:CurrentFinancialInstruments 2022-08-31 10024939 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 10024939 core:MotorVehicles 2022-08-31 10024939 core:OfficeEquipment 2022-08-31 10024939 core:PlantMachinery 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 10024939

MSB Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

MSB Services Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

MSB Services Limited

(Registration number: 10024939)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,734

9,801

Current assets

 

Stocks

5

40,000

219,000

Debtors

6

496

3,334

Cash at bank and in hand

 

2,279

34,598

 

42,775

256,932

Creditors: Amounts falling due within one year

7

(25,351)

(261,038)

Net current assets/(liabilities)

 

17,424

(4,106)

Net assets

 

25,158

5,695

Capital and reserves

 

Called up share capital

1

1

Retained earnings

25,157

5,694

Shareholders' funds

 

25,158

5,695

 

MSB Services Limited

(Registration number: 10024939)
Balance Sheet as at 31 August 2023

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 February 2024
 

.........................................
M Smith
Director

 

MSB Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite I Windrush Court
Abingdon Business Park
Abingdon
Oxfordshire
OX14 1SY
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of building and construction services to customers. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

MSB Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance basis

Office equipment

20% reducing balance basis

Plant and machinery

20% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

MSB Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2022

4,930

1,841

10,200

16,971

At 31 August 2023

4,930

1,841

10,200

16,971

Depreciation

At 1 September 2022

3,651

907

2,612

7,170

Charge for the year

270

225

1,572

2,067

At 31 August 2023

3,921

1,132

4,184

9,237

Carrying amount

At 31 August 2023

1,009

709

6,016

7,734

At 31 August 2022

1,279

934

7,588

9,801

5

Stocks

2023
£

2022
£

Other inventories

40,000

219,000

6

Debtors

Current

2023
£

2022
£

Other debtors

496

3,334

 

MSB Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

10,226

103,795

Taxation and social security

6,292

15,039

Other creditors

8,833

142,204

25,351

261,038

8

Related party transactions

Transactions with the director

During the year M Smith, director, made a interest free loan to the company. At the balance sheet date the amount due to M Smith was £10,607 (2022: £141,979).