Registered number
07720301
MSKB Consultants Limited
Filleted Accounts
29 February 2024
MSKB Consultants Limited
Registered number: 07720301
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,094 1,459
Investments 4 950 -
2,044 1,459
Current assets
Debtors 5 94,201 86,296
Cash at bank and in hand 442,732 392,428
536,933 478,724
Creditors: amounts falling due within one year 6 (41,684) (27,002)
Net current assets 495,249 451,722
Total assets less current liabilities 497,293 453,181
Provisions for liabilities (275) (366)
Net assets 497,018 452,815
Capital and reserves
Called up share capital 100 100
Profit and loss account 496,918 452,715
Shareholders' funds 497,018 452,815
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
WMH Rose
Director
Approved by the board on 30 November 2024
MSKB Consultants Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
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
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company
including directors 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 14,450
At 29 February 2024 14,450
Depreciation
At 1 March 2023 12,991
Charge for the year 365
At 29 February 2024 13,356
Net book value
At 29 February 2024 1,094
At 28 February 2023 1,459
4 Investments
Other
investments
£
Cost
Additions 950
At 29 February 2024 950
Historical cost
At 29 February 2024 950
5 Debtors 2024 2023
£ £
Trade debtors - 15,000
Other debtors 94,201 71,296
94,201 86,296
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 30,884 21,602
Other creditors 10,800 5,400
41,684 27,002
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
WMH Rose
Short term interest free loan. 55,880 46,000 (57,940) 43,940
55,880 46,000 (57,940) 43,940
8 Related party transactions
During the period the directors charged home office rent of £5,200 to the company (2023: £5,200).
9 Other information
MSKB Consultants Limited is a private company limited by shares and incorporated in England. Its registered office is:
Kempston
Mill Hill
Edenbridge
Kent
TN8 5DQ
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