2023-04-012024-03-312024-03-31false07125134MS LIVE PRODUCTIONS LTD2024-08-16iso4217:GBPxbrli:pure071251342023-04-01071251342024-03-31071251342023-04-012024-03-31071251342022-04-01071251342023-03-31071251342022-04-012023-03-3107125134bus:SmallEntities2023-04-012024-03-3107125134bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3107125134bus:FullAccounts2023-04-012024-03-3107125134bus:PrivateLimitedCompanyLtd2023-04-012024-03-3107125134core:WithinOneYear2024-03-3107125134core:AfterOneYear2024-03-3107125134core:WithinOneYear2023-03-3107125134core:AfterOneYear2023-03-3107125134core:ShareCapital2024-03-3107125134core:SharePremium2024-03-3107125134core:RevaluationReserve2024-03-3107125134core:OtherReservesSubtotal2024-03-3107125134core:RetainedEarningsAccumulatedLosses2024-03-3107125134core:ShareCapital2023-03-3107125134core:SharePremium2023-03-3107125134core:RevaluationReserve2023-03-3107125134core:OtherReservesSubtotal2023-03-3107125134core:RetainedEarningsAccumulatedLosses2023-03-3107125134core:LandBuildings2024-03-3107125134core:PlantMachinery2024-03-3107125134core:Vehicles2024-03-3107125134core:FurnitureFittings2024-03-3107125134core:OfficeEquipment2024-03-3107125134core:NetGoodwill2024-03-3107125134core:IntangibleAssetsOtherThanGoodwill2024-03-3107125134core:ListedExchangeTraded2024-03-3107125134core:UnlistedNon-exchangeTraded2024-03-3107125134core:LandBuildings2023-03-3107125134core:PlantMachinery2023-03-3107125134core:Vehicles2023-03-3107125134core:FurnitureFittings2023-03-3107125134core:OfficeEquipment2023-03-3107125134core:NetGoodwill2023-03-3107125134core:IntangibleAssetsOtherThanGoodwill2023-03-3107125134core:ListedExchangeTraded2023-03-3107125134core:UnlistedNon-exchangeTraded2023-03-3107125134core:LandBuildings2023-04-012024-03-3107125134core:PlantMachinery2023-04-012024-03-3107125134core:Vehicles2023-04-012024-03-3107125134core:FurnitureFittings2023-04-012024-03-3107125134core:OfficeEquipment2023-04-012024-03-3107125134core:NetGoodwill2023-04-012024-03-3107125134core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3107125134core:ListedExchangeTraded2023-04-012024-03-3107125134core:UnlistedNon-exchangeTraded2023-04-012024-03-3107125134core:MoreThanFiveYears2023-04-012024-03-3107125134core:Non-currentFinancialInstruments2024-03-3107125134core:Non-currentFinancialInstruments2023-03-3107125134dpl:CostSales2023-04-012024-03-3107125134dpl:DistributionCosts2023-04-012024-03-3107125134core:LandBuildings2023-04-012024-03-3107125134core:PlantMachinery2023-04-012024-03-3107125134core:Vehicles2023-04-012024-03-3107125134core:FurnitureFittings2023-04-012024-03-3107125134core:OfficeEquipment2023-04-012024-03-3107125134dpl:AdministrativeExpenses2023-04-012024-03-3107125134core:NetGoodwill2023-04-012024-03-3107125134core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3107125134dpl:GroupUndertakings2023-04-012024-03-3107125134dpl:ParticipatingInterests2023-04-012024-03-3107125134dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3107125134core:ListedExchangeTraded2023-04-012024-03-3107125134dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3107125134core:UnlistedNon-exchangeTraded2023-04-012024-03-3107125134dpl:CostSales2022-04-012023-03-3107125134dpl:DistributionCosts2022-04-012023-03-3107125134core:LandBuildings2022-04-012023-03-3107125134core:PlantMachinery2022-04-012023-03-3107125134core:Vehicles2022-04-012023-03-3107125134core:FurnitureFittings2022-04-012023-03-3107125134core:OfficeEquipment2022-04-012023-03-3107125134dpl:AdministrativeExpenses2022-04-012023-03-3107125134core:NetGoodwill2022-04-012023-03-3107125134core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3107125134dpl:GroupUndertakings2022-04-012023-03-3107125134dpl:ParticipatingInterests2022-04-012023-03-3107125134dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3107125134core:ListedExchangeTraded2022-04-012023-03-3107125134dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3107125134core:UnlistedNon-exchangeTraded2022-04-012023-03-3107125134core:NetGoodwill2024-03-3107125134core:IntangibleAssetsOtherThanGoodwill2024-03-3107125134core:LandBuildings2024-03-3107125134core:PlantMachinery2024-03-3107125134core:Vehicles2024-03-3107125134core:FurnitureFittings2024-03-3107125134core:OfficeEquipment2024-03-3107125134core:AfterOneYear2024-03-3107125134core:WithinOneYear2024-03-3107125134core:ListedExchangeTraded2024-03-3107125134core:UnlistedNon-exchangeTraded2024-03-3107125134core:ShareCapital2024-03-3107125134core:SharePremium2024-03-3107125134core:RevaluationReserve2024-03-3107125134core:OtherReservesSubtotal2024-03-3107125134core:RetainedEarningsAccumulatedLosses2024-03-3107125134core:NetGoodwill2023-03-3107125134core:IntangibleAssetsOtherThanGoodwill2023-03-3107125134core:LandBuildings2023-03-3107125134core:PlantMachinery2023-03-3107125134core:Vehicles2023-03-3107125134core:FurnitureFittings2023-03-3107125134core:OfficeEquipment2023-03-3107125134core:AfterOneYear2023-03-3107125134core:WithinOneYear2023-03-3107125134core:ListedExchange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MS LIVE PRODUCTIONS LTD

Registered Number
07125134
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

MS LIVE PRODUCTIONS LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

A J WOODS
NEWEY MCCARTNEY HOLDINGS LTD

Registered Address

28 Broad Street
Wokingham
RG40 1AB

Registered Number

07125134 (England and Wales)
MS LIVE PRODUCTIONS LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets32,3572,756
Tangible assets4145,35973,952
147,71676,708
Current assets
Debtors6,7720,434710,348
Cash at bank and on hand1,176,7331,156,289
1,897,1671,866,637
Creditors amounts falling due within one year8(1,173,715)(1,494,893)
Net current assets (liabilities)723,452371,744
Total assets less current liabilities871,168448,452
Creditors amounts falling due after one year9(131,904)(128,405)
Provisions for liabilities11(14,786)(14,050)
Net assets724,478305,997
Capital and reserves
Called up share capital110110
Profit and loss account724,368305,887
Shareholders' funds724,478305,997
The financial statements were approved and authorised for issue by the Board of Directors on 16 August 2024, and are signed on its behalf by:
A J WOODS
Director
Registered Company No. 07125134
MS LIVE PRODUCTIONS LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation
Amortisation Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Asset class Amortisation method and rate Patents and trademarks 10% straight line
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings25
Vehicles25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year33
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 April 23-3,9993,999
Additions1-1
At 31 March 2413,9994,000
Amortisation and impairment
At 01 April 23-1,2431,243
Charge for year-400400
At 31 March 24-1,6431,643
Net book value
At 31 March 2412,3562,357
At 31 March 23-2,7562,756
4.Tangible fixed assets

Vehicles

Fixtures & fittings

Total

£££
Cost or valuation
At 01 April 23-393,810393,810
Additions114,9504,916119,866
At 31 March 24114,950398,726513,676
Depreciation and impairment
At 01 April 23-319,858319,858
Charge for year28,73819,72148,459
At 31 March 2428,738339,579368,317
Net book value
At 31 March 2486,21259,147145,359
At 31 March 23-73,95273,952
5.Stocks
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables9,93014,917
Other debtors5,5474,992
Prepayments and accrued income14,519-
Total29,99619,909
7.Debtors: amounts due after one year

2024

2023

££
Other debtors690,437690,438
Total690,437690,438
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables89,08523,288
Bank borrowings and overdrafts50,00058,550
Taxation and social security306,779380,120
Finance lease and HP contracts12,043-
Other creditors175400,152
Accrued liabilities and deferred income715,633632,783
Total1,173,7151,494,893
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts54,167127,612
Other creditors77,737793
Total131,904128,405
10.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts77,738793
11.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)14,78614,050
Total14,78614,050
12.Related party transactions
Included in other debtors are the amounts £690,437 (2023: £690,438) and £618 (2023: £618) which are due from related companies where these is a common director: Newey McCartney Holdings Ltd and DBS Leisure Ltd respectively. The debts are interest free and are repayable on demand. During the year the company paid for business services at market value of £55,800 (2023: £30,000) to Newey McCartney Holdings Ltd.