Registered number
11555375
MSB Housing Limited
Unaudited Filleted Accounts
31 August 2023
MSB Housing Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of MSB Housing Limited for the year ended 31 August 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MSB Housing Limited for the year ended 31 August 2023 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Pitts & Seeus
Chartered Accountants
Studio 6
6 Hornsey Street
London
N7 8GR
20 February 2025
MSB Housing Limited
Registered number: 11555375
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,147 4,779
Current assets
Debtors 4 40,885 25,250
Cash at bank and in hand 8,858 19,169
49,743 44,419
Creditors: amounts falling due within one year 5 (67,287) (11,875)
Net current (liabilities)/assets (17,544) 32,544
Total assets less current liabilities (11,397) 37,323
Creditors: amounts falling due after more than one year 6 (34,827) (37,056)
Net (liabilities)/assets (46,224) 267
Capital and reserves
Called up share capital 100 100
Profit and loss account (46,324) 167
Shareholders' funds (46,224) 267
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.
M A Bostan
Director
Approved by the board on 20 February 2025
MSB Housing Limited
Statement of Changes in Equity
for the year ended 31 August 2023
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 September 2021 100 - - (5,023) (4,923)
Profit for the financial year 22,190 22,190
Dividends (17,000) (17,000)
At 31 August 2022 100 - - 167 267
At 1 September 2022 100 - - 167 267
Loss for the financial year (46,491) (46,491)
At 31 August 2023 100 - - (46,324) (46,224)
MSB Housing Limited
Notes to the Accounts
for the year ended 31 August 2023
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 5 years
Fixtures, fittings, tools and equipment over 5 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 2023 2022
Number Number
Average number of persons employed by the company 5 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022 6,780
Additions 2,905
At 31 August 2023 9,685
Depreciation
At 1 September 2022 2,001
Charge for the year 1,537
At 31 August 2023 3,538
Net book value
At 31 August 2023 6,147
At 31 August 2022 4,779
4 Debtors 2023 2022
£ £
Amounts owed by connected company 30,793 25,000
Other debtors 10,092 250
40,885 25,250
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,000 6,000
Taxation and social security costs 11,727 3,175
Other creditors 49,560 2,700
67,287 11,875
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 34,827 37,056
7 Other information
MSB Housing Limited is a private company limited by shares and incorporated in England. Its registered office is:
166 Highfield Raod
Hall Green
Birmingham
B28 0HT
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