2023-03-012024-02-292024-02-29false08387219MSPC 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MSPC LIMITED

Registered Number
08387219
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

MSPC LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

MUREFU, Primrose

Registered Address

18 Corby Business Centre
Eismann Way
Corby
NN18 8QN

Registered Number

08387219 (England and Wales)
MSPC LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets326,4844,939
26,4844,939
Current assets
Debtors233,357117,556
Cash at bank and on hand85,934119,208
319,291236,764
Creditors amounts falling due within one year4(246,559)(169,279)
Net current assets (liabilities)72,73267,485
Total assets less current liabilities99,21672,424
Net assets99,21672,424
Capital and reserves
Called up share capital11
Profit and loss account99,21572,423
Shareholders' funds99,21672,424
The financial statements were approved and authorised for issue by the Director on 30 November 2024, and are signed on its behalf by:
MUREFU, Primrose
Director
Registered Company No. 08387219
MSPC LIMITED
Notes to the Financial Statements
for the year ended 29 February 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.
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.
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.
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.
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:
2.Average number of employees

20242023
Average number of employees during the year3125
3.Tangible fixed assets

Vehicles

Total

££
Cost or valuation
At 01 March 235,2925,292
Additions25,60025,600
At 29 February 2430,89230,892
Depreciation and impairment
At 01 March 23353353
Charge for year4,0554,055
At 29 February 244,4084,408
Net book value
At 29 February 2426,48426,484
At 28 February 234,9394,939
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables10,5373,212
Bank borrowings and overdrafts226,549150,371
Taxation and social security9,47315,696
Total246,559169,279