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REGISTERED NUMBER: 13219955 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

MSK Assets Ltd

MSK Assets Ltd (Registered number: 13219955)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MSK Assets Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: S J Kinsella
M M Kinsella





REGISTERED OFFICE: 21 Church Road
Parkstone
Poole
Dorset
BH14 8UF





REGISTERED NUMBER: 13219955 (England and Wales)





ACCOUNTANT: Richard Allen & Associates
21 Church Road
Parkstone
Poole
Dorset
BH14 8UF

MSK Assets Ltd (Registered number: 13219955)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 376,516 376,516

CURRENT ASSETS
Debtors 5 1,451 663
Cash at bank 231 3,038
1,682 3,701
CREDITORS
Amounts falling due within one year 6 90,134 97,692
NET CURRENT LIABILITIES (88,452 ) (93,991 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

288,064

282,525

CREDITORS
Amounts falling due after more than one
year

7

(237,916

)

(237,916

)

PROVISIONS FOR LIABILITIES (12,128 ) (12,128 )
NET ASSETS 38,020 32,481

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 38,018 32,479
SHAREHOLDERS' FUNDS 38,020 32,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

MSK Assets Ltd (Registered number: 13219955)

Balance Sheet - continued
29 February 2024


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 13 September 2024 and were signed on its behalf by:





M M Kinsella - Director


MSK Assets Ltd (Registered number: 13219955)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

MSK Assets Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MSK Assets Ltd (Registered number: 13219955)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 376,516
NET BOOK VALUE
At 29 February 2024 376,516
At 28 February 2023 376,516

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 38,514
Valuation in 2023 10,000
Cost 328,002
376,516

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 328,002 328,002

The investment properties were valued on an open market basis on 29 February 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,451 663

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 414 -
Other creditors 89,720 97,692
90,134 97,692

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 237,916 237,916

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 237,916 237,916