MSA Developments (Chaddesley) Ltd 13060680 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true 13060680 2023-01-01 2023-12-31 13060680 2023-12-31 13060680 bus:OrdinaryShareClass1 2023-12-31 13060680 core:RetainedEarningsAccumulatedLosses 2023-12-31 13060680 core:ShareCapital 2023-12-31 13060680 core:CurrentFinancialInstruments 2023-12-31 13060680 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 13060680 bus:SmallEntities 2023-01-01 2023-12-31 13060680 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13060680 bus:FilletedAccounts 2023-01-01 2023-12-31 13060680 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 13060680 bus:RegisteredOffice 2023-01-01 2023-12-31 13060680 bus:Director1 2023-01-01 2023-12-31 13060680 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 13060680 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13060680 countries:England 2023-01-01 2023-12-31 13060680 2022-01-01 2022-12-31 13060680 2022-12-31 13060680 bus:OrdinaryShareClass1 2022-12-31 13060680 core:RetainedEarningsAccumulatedLosses 2022-12-31 13060680 core:ShareCapital 2022-12-31 13060680 core:CurrentFinancialInstruments 2022-12-31 13060680 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

MSA Developments (Chaddesley) Ltd

Annual Report and Unaudited Financial Statements
Year Ended 31 December 2023

Registration number: 13060680

 

MSA Developments (Chaddesley) Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

MSA Developments (Chaddesley) Ltd

Balance Sheet

31 December 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

-

2,846,143

Debtors

5

306,951

1,357,173

Cash at bank and in hand

 

10,696

8,269

 

317,647

4,211,585

Creditors: Amounts falling due within one year

6

(832,061)

(4,604,547)

Net liabilities

 

(514,414)

(392,962)

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

(514,514)

(393,062)

Shareholders' deficit

 

(514,414)

(392,962)

For the financial year ending 31 December 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 their 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 16 October 2024
 

.........................................
M S Adams
Director

Company Registration Number: 13060680

 

MSA Developments (Chaddesley) Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
4 Joshuas Vista
202 Sandbanks Road
Poole
BH14 8HA
England

These financial statements were authorised for issue by the director on 16 October 2024.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 sale of properties.

The company recognises revenue on completion of sales.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

MSA Developments (Chaddesley) Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 December 2023

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

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

4

Stocks

2023
£

2022
£

Work in progress

-

2,846,143

 

MSA Developments (Chaddesley) Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 December 2023

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

-

900,000

Amounts owed by related parties

145,777

152,628

Other debtors

 

161,174

304,545

 

306,951

1,357,173

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

50,000

3,956,277

Accruals and deferred income

 

5,857

5,468

Other creditors

 

776,204

642,802

 

832,061

4,604,547

7

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

50,000

3,956,277

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100