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REGISTERED NUMBER: 09508610 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

MSB PROPERTY DEVELOPMENT LIMITED

MSB PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 09508610)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MSB PROPERTY DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: G S Benning
J K Benning





REGISTERED OFFICE: 3rd Floor,
207 Regent Street
London
W1B 3HH





REGISTERED NUMBER: 09508610 (England and Wales)





ACCOUNTANTS: Ark Aurora Ltd
Chartered Accountants & Chartered Tax Advisers
The Maltings
2 Anderson Rd
Bearwood
Birmingham
West Midlands
B66 4AR

MSB PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 09508610)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,809 -

CURRENT ASSETS
Stocks 1,075,000 1,000,000
Debtors 5 709,711 849,126
Cash at bank 61,099 347,381
1,845,810 2,196,507
CREDITORS
Amounts falling due within one year 6 1,067,843 1,471,736
NET CURRENT ASSETS 777,967 724,771
TOTAL ASSETS LESS CURRENT
LIABILITIES

787,776

724,771

CREDITORS
Amounts falling due after more than one
year

7

39,293

46,389
NET ASSETS 748,483 678,382

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 748,481 678,380
SHAREHOLDERS' FUNDS 748,483 678,382

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

MSB PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 09508610)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:




G S Benning - Director



J K Benning - Director


MSB PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 09508610)

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


1. STATUTORY INFORMATION

MSB Property Development 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.

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.

MSB PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 09508610)

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


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Short
leasehold
£   
COST
Additions 9,809
At 31 March 2023 9,809
NET BOOK VALUE
At 31 March 2023 9,809

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 199,939 72,970
Other debtors 467,222 704,044
VAT - 25,767
Prepayments and accrued income 42,550 46,345
709,711 849,126

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 109,345 77,114
Tax 127,377 98,239
Social security and other taxes 71,781 24,330
VAT 18,386 -
Other creditors 382,112 1,008,958
Directors' current accounts 355,342 260,195
Accrued expenses 3,500 2,900
1,067,843 1,471,736

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 2-5 years 39,293 46,389