Registered number
08914064
MSK Entertainment Ltd
Unaudited Filleted Accounts
31 March 2024
MSK Entertainment Ltd
Registered number: 08914064
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 427
Current assets
Debtors 4 4,800 9,863
Cash at bank and in hand 5,561 9,491
10,361 19,354
Creditors: amounts falling due within one year 5 (10,166) (17,414)
Net current assets 195 1,940
Net assets 195 2,367
Capital and reserves
Called up share capital 100 100
Profit and loss account 95 2,267
Shareholders' funds 195 2,367
The director is 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 director acknowledges his 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.
Michael Kamara
Director
Approved by the board on 17 November 2024
MSK Entertainment Ltd
Notes to the Accounts
for the year ended 31 March 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 over 2 years
Fixtures, fittings, tools and equipment over 4 years
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 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 23,015
At 31 March 2024 23,015
Depreciation
At 1 April 2023 22,588
Charge for the year 427
At 31 March 2024 23,015
Net book value
At 31 March 2024 -
At 31 March 2023 427
4 Debtors 2024 2023
£ £
Trade debtors 4,800 9,863
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 5,580 13,930
Taxation and social security costs 528 1,738
Other creditors 4,058 1,746
10,166 17,414
6 Related party transactions
During the year the company paid dividends to the director totalling £2,000 (2023: £2,000) and to the director's spouse totalling £2,000 (2023: £2,000). The director made loans to the company totalling £3,931 (2023: £1,619)
7 Controlling party
There is no ultimate controlling party. The director and his spouse each has a 50% shareholding in the company.
8 Other information
MSK Entertainment Ltd is a private company limited by shares and incorporated in England. Its registered office is:
36 Cross Lane East
Gravesend
Kent
DA12 5HH
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