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MSA Holdings Ltd

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2024

Registration number: 11286558

 

MSA Holdings Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

MSA Holdings Ltd

Balance Sheet

31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

3

3

Current assets

 

Debtors

5

1,258,411

1,200,266

Cash at bank and in hand

 

282

21

 

1,258,693

1,200,287

Creditors: Amounts falling due within one year

6

(381,805)

(472,352)

Net current assets

 

876,888

727,935

Total assets less current liabilities

 

876,891

727,938

Creditors: Amounts falling due after more than one year

6

(27,920)

(33,946)

Net assets

 

848,971

693,992

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

848,871

693,892

Shareholders' funds

 

848,971

693,992

 

MSA Holdings Ltd

Balance Sheet

31 March 2024

For the financial year ending 31 March 2024 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 his 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 22 November 2024
 

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

Company Registration Number: 11286558

 

MSA Holdings Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Towngate House
2-8 Parkstone Road
Poole
Dorset
BH15 2PW

These financial statements were authorised for issue by the director on 22 November 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 goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Investments

Investments in joint ventures are stated at cost.

 

MSA Holdings Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2024

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 (2023 - 1).

 

MSA Holdings Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2024

4

Investments

2024
£

2023
£

Investments in joint ventures

3

3

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Joint ventures

AJ Property Group Limited

202 Sandbanks Road, Poole, BH14 8HA

Ordinary

50%

50%

 

     

Joint ventures

AJ Property Group Limited

The principal activity of AJ Property Group Limited is Investment property.

5

Debtors

2024
£

2023
£

Amounts due from group undertakings

551,360

237,360

Other debtors

707,051

962,906

1,258,411

1,200,266

 

MSA Holdings Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

6,026

5,877

Amounts due to group undertakings

8

246,901

246,901

Taxation and social security

 

93,145

216,844

Accruals and deferred income

 

4,146

2,730

Other creditors

 

31,587

-

 

381,805

472,352

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

27,920

33,946

7

Loans and borrowings

2024
£

2023
£

Loans and borrowings due after one year

Bank borrowings

27,920

33,946

2024
£

2023
£

Current loans and borrowings

Bank borrowings

6,026

5,877

The bank borrowings relate to a bounce back loan which is repayable over 10 years.

 

MSA Holdings Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2024

8

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr M S Adams

Director loan

439,119

-

(439,119)

-

         
       

 

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr M S Adams

Director loan

333,077

165,542

(59,500)

439,119