Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activitytrue22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 6026346 2023-01-01 2023-12-31 6026346 2022-01-01 2022-12-31 6026346 2023-12-31 6026346 2022-12-31 6026346 c:Director1 2023-01-01 2023-12-31 6026346 d:FreeholdInvestmentProperty 2023-12-31 6026346 d:FreeholdInvestmentProperty 2022-12-31 6026346 d:CurrentFinancialInstruments 2023-12-31 6026346 d:CurrentFinancialInstruments 2022-12-31 6026346 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 6026346 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 6026346 d:ShareCapital 2023-12-31 6026346 d:ShareCapital 2022-12-31 6026346 d:InvestmentPropertiesRevaluationReserve 2023-01-01 2023-12-31 6026346 d:InvestmentPropertiesRevaluationReserve 2023-12-31 6026346 d:InvestmentPropertiesRevaluationReserve 2022-12-31 6026346 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 6026346 d:RetainedEarningsAccumulatedLosses 2023-12-31 6026346 d:RetainedEarningsAccumulatedLosses 2022-12-31 6026346 c:FRS102 2023-01-01 2023-12-31 6026346 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 6026346 c:FullAccounts 2023-01-01 2023-12-31 6026346 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 6026346 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 6026346









MS & MS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MS & MS LIMITED
REGISTERED NUMBER: 6026346

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
400,000
400,000

Current assets
  

Debtors: amounts falling due within one year
 5 
92,526
88,237

Cash at bank and in hand
  
7,195
10,886

  
99,721
99,123

Creditors: amounts falling due within one year
 6 
(22,091)
(29,616)

Net current assets
  
 
 
77,630
 
 
69,507

Total assets less current liabilities
  
477,630
469,507

Provisions for liabilities
  

Deferred tax
  
(1,524)
(1,524)

Net assets
  
476,106
467,983


Capital and reserves
  

Called up share capital 
  
114,000
114,000

Investment property reserve
 7 
100,882
100,882

Profit and loss account
 7 
261,224
253,101

  
476,106
467,983


Page 1

 
MS & MS LIMITED
REGISTERED NUMBER: 6026346
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 July 2024.



M A Smelt
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MS & MS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private limited company, which is incorporated and registered in England (no. 06026346). The address of the registered office is Units 2 & 3 Manor Farm Buildings, Stokeham, Nottinghamshire DN22 0JZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis.  The directors believe that the company has sufficient resources to be able to trade until at least July 2025.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
MS & MS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
MS & MS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
400,000



At 31 December 2023
400,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
297,594
297,594

Page 5

 
MS & MS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
4,575
1,406

Other debtors
86,085
85,142

Prepayments and accrued income
1,866
1,689

92,526
88,237



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
778
2,976

Other taxation and social security
1,906
9,006

Other creditors
16,432
16,432

Accruals and deferred income
2,975
1,202

22,091
29,616



7.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve is not distributable, it contains unrealised gains on the valuation of the investment property.

Profit and loss account

The profit and loss reserve includes all current and prior retained profits and losses.


8.


Related party transactions

During the previous year the company made a loan to a company under the contol of one of the directors of this company. The loan is interest free and repayable on demand. As at 31 December 2023 the amount outstanding was £85,142 (2022: £85,142) and has been included in other debtors (note 5).

Page 6