Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-3198212102928200003000050864676940406456512024-01-01false112024-12-31135850620.250.2352false 13585062 2024-01-01 2024-12-31 13585062 2 2024-01-01 2024-12-31 13585062 7 2024-01-01 2024-12-31 13585062 2023-01-01 2023-12-31 13585062 2 2023-01-01 2023-12-31 13585062 7 2023-01-01 2023-12-31 13585062 2024-12-31 13585062 2023-12-31 13585062 2023-01-01 13585062 d:Director1 2024-01-01 2024-12-31 13585062 d:Director2 2024-01-01 2024-12-31 13585062 d:RegisteredOffice 2024-01-01 2024-12-31 13585062 e:ComputerEquipment 2024-01-01 2024-12-31 13585062 e:ComputerEquipment 2023-01-01 2023-12-31 13585062 e:ComputerEquipment 2024-12-31 13585062 e:ComputerEquipment 2023-12-31 13585062 e:ComputerEquipment 2023-01-01 13585062 e:CurrentFinancialInstruments 2024-12-31 13585062 e:CurrentFinancialInstruments 2023-12-31 13585062 f:RestEuropeOutsideUK 2024-01-01 2024-12-31 13585062 f:RestEuropeOutsideUK 2023-01-01 2023-12-31 13585062 e:ShareCapital 2024-01-01 2024-12-31 13585062 e:ShareCapital 2024-12-31 13585062 e:ShareCapital 2023-01-01 2023-12-31 13585062 e:ShareCapital 2023-12-31 13585062 e:ShareCapital 2023-01-01 13585062 e:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 13585062 e:RetainedEarningsAccumulatedLosses 2024-12-31 13585062 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13585062 e:RetainedEarningsAccumulatedLosses 2023-12-31 13585062 d:OrdinaryShareClass1 2024-01-01 2024-12-31 13585062 d:OrdinaryShareClass1 2024-12-31 13585062 d:OrdinaryShareClass1 2023-12-31 13585062 d:FullIFRS 2024-01-01 2024-12-31 13585062 d:Audited 2024-01-01 2024-12-31 13585062 d:FullAccounts 2024-01-01 2024-12-31 13585062 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13585062 e:ContinuingOperations 2024-01-01 2024-12-31 13585062 e:ContinuingOperations 2023-01-01 2023-12-31 13585062 e:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties 2024-01-01 2024-12-31 13585062 e:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties 2023-01-01 2023-12-31 13585062 e:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties 2024-12-31 13585062 e:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties 2023-12-31 13585062 g:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares
Registered number: 13585062









MISA SERVICES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 
MISA SERVICES LIMITED
 

 
 
COMPANY INFORMATION

 
Directors
N Boyce  
Mocoh Investments SA  




Registered number
13585062



Registered office
7 Savoy Court

London

WC2R 0EX




Independent auditors
Sopher + Co LLP
Chartered Accountants & Statutory Auditors

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
MISA SERVICES LIMITED
 

 
CONTENTS


Page
Directors' Report
 
1 - 2
Independent Auditors' Report
 
3 - 6
Statement of Profit or Loss and Other Comprehensive Income
 
7
Statement of Financial Position
 
8 - 9
Statement of Changes in Equity
 
10
Statement of Cash Flows
 
11
Notes to the Financial Statements
 
12 - 22
Detailed Profit and Loss Account and Summaries
 
22
 

 
MISA SERVICES LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024

The Directors present their report and the financial statements for the year ended 31 December 2024.

Principal activity

The principal activity of the Company during the year was that of accountancy services.

Directors

The Directors who served during the year were:

N Boyce 
Mocoh Investments SA 

Results and dividends

The profit for the year, after taxation, amounted to £49,106 (2023 -£51,464).

The directors have not declared any dividend for the year (2023 - £ Nil)

Directors' responsibilities statement

The Directors are responsible for preparing the Directors' Report and the financial statements, in accordance with applicable law.

Company law requires the Directors to prepare financial statements for each financial year. Under that law they have elected to prepare the financial statements in accordance with International Financial Reporting Standards (IFRS) as adopted by the UK.

Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing the financial statements, the Directors are required to:

select suitable accounting policies and then apply them consistently;

make judgments and estimates that are reasonable and prudent;

state whether they have been prepared in accordance with IFRS as adopted by the UK, subject to any material departures disclosed and explained in the financial statements;

assess the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and

use the going concern basis of accounting unless they either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Company and to prevent and detect fraud and other irregularities.

Page 1

 
MISA SERVICES LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Disclosure of information to auditors

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

Under section 487(2) of the Companies Act 2006Sopher + Co LLP will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

Small companies' exemption note

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 



N Boyce
Director

Date: 19 March 2025
Page 2

 
MISA SERVICES LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MISA SERVICES LIMITED
 

Opinion


We have audited the financial statements of MISA Services Limited (the 'Company') for the year ended 31 December 2024,which comprise the Statement of Profit or Loss and Other Comprehensive Incomethe Statement of Financial Positionthe Statement of Cash Flowsthe Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and International Financial Reporting Standards (IFRSs) as adopted by the United Kingdom.

In our opinion the financial statements:

give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended;

have been properly prepared in accordance with IFRSs as adopted by the United Kingdom; and

have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.  responsibilities under those standards are further described in the auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern


In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.  
However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the company's ability to continue as a going concern.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.

Page 3

 
MISA SERVICES LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MISA SERVICES LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report, other than the financial statements and our auditors' report thereon.  The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006


In our opinion, based on the work undertaken in the course of the audit: 

the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of Directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.


Responsibilities of directors

As explained more fully in the Directors' responsibilities statement on page 1, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
 

Page 4

 
MISA SERVICES LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MISA SERVICES LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
 
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; 
we identified the laws and regulations applicable to the Company through discussions with directors and other management, and from our commercial knowledge and experience of similar businesses; 
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and 
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 

We assessed the susceptibility of the Company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
 
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; 
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and 
understanding the design of the Company’s remuneration policies. 

To address the risk of fraud through management bias and override of controls, we: 
 
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions; 
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and 
investigated the rationale behind significant or unusual transactions. 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: 
 
agreeing financial statement disclosures to underlying supporting documentation; 
reading the minutes of meetings of those charged with governance; 
enquiring of management as to actual and potential litigation and claims; and 
reviewing correspondence with HMRC, relevant regulators and the Company’s legal advisors.

Page 5

 
MISA SERVICES LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MISA SERVICES LIMITED (CONTINUED)


Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report.

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006.  audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.




 
 
Sean Brennan FCCA (Senior Statutory Auditor)
 
for and on behalf of
Sopher + Co LLP
 
Chartered Accountants
Statutory Auditors
  
5 Elstree Gate
Elstree Way
Borehamwood
Hertfordshire
WD6 1JD

19 March 2025
Page 6

 
MISA SERVICES LIMITED
 
 
 
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

  

Revenue
 6 
518,153
661,652

Gross profit
  
518,153
661,652

  

Administrative expenses
  
(453,076)
(595,625)

Profit from operations
  
65,077
66,027

  

Finance income
  
721
-

Finance expense
  
(192)
(1,513)

Profit before tax
  
65,606
64,514

  

Tax expense
 11 
(16,500)
(13,050)


Total comprehensive income
  
49,106
51,464


All amounts for current year and previous year are derived from continuing activities.
The notes on pages 12 to 22 form part of these financial statements.

Page 7

 
MISA SERVICES LIMITED
REGISTERED NUMBER: 13585062

 
 
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Assets

Non-current assets
  

Property, plant and equipment
 12 
242
373

  
242
373

Current assets
  

Trade and other receivables
 13 
279,917
237,035

Cash and cash equivalents
  
251,523
143,971

  
531,440
381,006

  

Total assets

  

531,682
381,379

Liabilities

Current liabilities
  

Trade and other liabilities
 14 
267,359
166,162

  
267,359
166,162

  

Total liabilities
  
267,359
166,162

  

  

Net assets
  
264,323
215,217


Issued capital and reserves
  

Called up share capital
 15 
10,000
10,000

Retained earnings
  
254,323
205,217

Total equity
  
264,323
215,217

The financial statements on pages 7 to 22 were approved and authorised for issue by the board of Directors and were signed on its behalf by:



N Boyce
Director

Date: 19 March 2025

The notes on pages 12 to 22 form part of these financial statements.
Page 8

 
MISA SERVICES LIMITED
REGISTERED NUMBER: 13585062

 
 
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024


Page 9

 
MISA SERVICES LIMITED

 
 
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Retained earnings
Total equity


£
£
£

At 1 January 2024
10,000
205,217
215,217

Profit for the year
-
49,106
49,106

Total comprehensive income for the year
-
49,106
49,106

At 31 December 2024
10,000
254,323
264,323



Called up share capital
Retained earnings
Total equity


£
£
£

At 1 January 2023
10,000
153,753
163,753

Profit for the year
-
51,464
51,464

Total comprehensive income for the year
-
51,464
51,464

At 31 December 2023
10,000
205,217
215,217

The notes on pages 12 to 22 form part of these financial statements.

Page 10

 
MISA SERVICES LIMITED

 
 
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024

2024
2023
Note
£
£

Cash flows from operating activities
  

Profit for the year
  
49,106
51,464

Adjustments for
  

Depreciation of property, plant and equipment
 12 
132
132

Finance expense
  
192
1,513

Corporation tax (paid)/received
  
1,272
(52,631)

Income tax expense
 11 
15,987
13,050

  
66,689
13,528

Movements in working capital:
  

Decrease/(increase) in debtors
  
13,175
6,459

Decrease/(increase) in amounts owed by groups
  
(57,331)
208,195

Increase/(decrease) in trade and other payables
  
85,211
(487,820)

Cash generated from operations
  
107,744
(259,638)

  

Net cash from/(used in) operating activities

  
107,744
(259,638)

Cash flows from investing activities
  

Cash flows from financing activities
  

Interest paid
  
(192)
(1,513)

Net cash used in financing activities
  
(192)
(1,513)

Net increase/(decrease) in cash and cash equivalents
  
107,552
(261,151)

  

Cash and cash equivalents at the beginning of year
  
143,971
405,122

Cash and cash equivalents at the end of the year
  
251,523
143,971

The notes on pages 12 to 22 form part of these financial statements.

Page 11

 
MISA SERVICES LIMITED


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


Reporting entity

MISA Services Limited (the 'Company') is a limited company incorporated in England and Wales. The Company's registered office is at 7 Savoy Court, London, WC2R 0EX. The Company's principal activity is providing accountancy services.


2.


Basis of preparation

The financial statements have been prepared in accordance with International Financial Reporting Standards, International Accounting Standards and Interpretations as adopted by the UK (collectively IFRSs). 
Details of the Company's accounting policies, including changes during the year, are included in note 3.
In preparing these financial statements, management has made judgments, estimates and assumptions that affect the application of the Company accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.
The areas where judgments and estimates have been made in preparing the financial statements and their effects are disclosed in note 5.
2.1 Basis of measurement
The financial statements have been prepared on the historical cost basis.
2.2 Changes in accounting policies
i) New standards, interpretations and amendments effective from 1 January 2024
There are no standards and interpretations issued that are mandatory for the Company (accounting periods beginning on or after 1 January 2024 and for later periods) that are expected to be relevant to the Company.
Adoption of the IFRS has not resulted in any restatement of account balances and transactions.
ii) New standards, interpretations and amendments not yet effective
The Company did not adopt new or amended standards in the reporting year that have yet to become effective.


3.Accounting policies

 
3.1

Revenue

Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The Company recognises revenue when it transfers control over a product or service to a customer.

Page 12

 
MISA SERVICES LIMITED

 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.Accounting policies (continued)

 
3.2

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Income tax expense represents the sum of the tax currently payable and deferred tax.


Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from ‘profit before tax’ as reported in the Statement of Profit or Loss and Other Comprehensive Income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

 
3.3

Property, plant and equipment

Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.

If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment. Any gain or loss on disposal of an item of property, plant and equipment is recognised in profit or loss. Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Company.

Depreciation is provided on all other items of property, plant and equipment so as to write off their carrying value over their expected useful economic lives. It is provided at the following rates:

Computer equipment
25%

 
3.4

Financial instruments

Financial assets and financial liabilities are recognised when an entity becomes a party to the contractual provisions of the instruments.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.

Page 13

 
MISA SERVICES LIMITED


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Functional and presentation currency

These financial statements are presented in pound sterling, which is the Company's functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary tems measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges..


5.


Accounting estimates and judgments

The Company's financial statements are influenced by accounting policies, assumptions, estimates and management’s judgement, which have to be made in the course of preparation of the financial statements.
The Company determines estimates and assumptions that affect the reported amounts of assets and liabilities for the next financial year. All estimates and assumptions required in conformity with IFRS are best estimates undertaken in accordance with the applicable standard.
Estimates and judgements are evaluated on a continuous basis, and are based on past experience and other factors, including expectations with regard to future events.
Critical judgements in applying the company’s accounting policies
The management has concluded that there are no critical judgments made in applying the company’s accounting policies that have a significant effect on the amounts recognised in the financial statements.
Key accounting estimates and assumptions
The management has also concluded that there are no significant estimates or assumptions that could lead to a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
 

Page 14

 
MISA SERVICES LIMITED


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Revenue


The following is an analysis of the Company's revenue for the year from continuing operations:


2024
2023
£
£


Management fees
518,153
661,652


Analysis of revenue by country of destination:

2024
2023
£
£


Europe
518,153
661,652


7.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
6,735
5,500
Page 15

 
MISA SERVICES LIMITED


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Employee benefit expenses

2024
2023
£
£

Employee benefit expenses (including Directors) comprise:

Wages and salaries
332,818
374,163

National insurance
46,536
46,448

Defined contribution pension cost
22,800
23,763

402,154
444,374

Key management personnel compensation

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Company, including the Directors of the Company listed on the Company Information page.


2024
2023
£
£


Salary
332,818
331,500

National insurance
46,536
45,541

Defined contribution scheme costs
22,800
19,313

402,154
396,354

The monthly average number of persons, including the Directors, employed by the Company during the year was as follows:


2024
2023
No.
No.

Directors
1
1


9.


Directors' remuneration

2024
2023
£
£


Directors' emoluments
332,818
331,500

Company contributions to pension schemes
22,800
19,313

355,618
350,813


Page 16

 
MISA SERVICES LIMITED


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Finance income and expense

Recognised in profit or loss


2024
2023
£
£



Other interest receivable
721
-

Total finance income

721
-

Finance expense

Loans from group undertakings
-
1,315

Other interest payable
192
198

Total finance expense
192
1,513


Net finance income/(expense) recognised in profit or loss
529
(1,513)

Page 17

 
MISA SERVICES LIMITED


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Tax expense

11.1 Income tax recognised in profit or loss



2024
2023
£
£

Current tax

Current tax on profits for the year
15,987
13,050

Adjustments in respect of prior years
513
-

Total current tax
16,500
13,050


Deferred tax expense


The reasons for the difference between the actual tax charge for the year and the standard rate of corporation tax in the United Kingdom applied to profits for the year are as follows:


2024
2023
£
£


Profit for the year
49,106
51,464

Income tax expense
16,500
13,050

Profit before income taxes
65,606
64,514


Tax using the Company's domestic tax rate of 25% (2023:23.52%)
16,402
15,174

Expenses not deductible for tax purposes, other than goodwill, amortisation and impairment
(448)
(2,156)

Capital allowances for the year in excess of depreciation
33
32

Adjustments to tax charge in respect of prior periods
513
-

Total tax expense
16,500
13,050

11.2 Current tax assets and liabilities

2024
2023
£
£

Current tax assets

Corporation tax repayable
-
1,272

Current tax liabilities

Corporation tax payable
15,987
-

Page 18

 
MISA SERVICES LIMITED


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Property, plant and equipment





Computer equipment

£



Cost or valuation



At 1 January 2023
527



At 31 December 2023
527



At 31 December 2024
527


Computer equipment

£



Accumulated depreciation and impairment



At 1 January 2023
22


Charge owned for the year
132



At 31 December 2023
154


Charge owned for the year
131



At 31 December 2024
285



Net book value


At 1 January 2023
505


At 31 December 2023
373


At 31 December 2024
242

Page 19

 
MISA SERVICES LIMITED


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

13.


Trade and other receivables


2024
2023
£
£


Receivables from related parties
277,347
220,018

Total financial assets other than cash and cash equivalents classified as loans and receivables
277,347
220,018

Prepayments and accrued income
-
2,654

Other receivables
2,570
14,363

Total trade and other receivables
279,917
237,035

Total current portion
(279,917)
(237,035)


14.


Trade and other payables


2024
2023
£
£


Other payables
-
1,115

Accruals
196,229
106,149

Total financial liabilities, excluding loans and borrowings, classified as financial liabilities measured at amortised cost
196,229
107,264

Other payables - tax and social security payments
71,130
58,898

Total trade and other payables
267,359
166,162

Total current portion
(267,359)
(166,162)

Page 20

 
MISA SERVICES LIMITED


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
15.


Share capital

Authorised

2024
2024
2023
2023
Number
£
Number
£

Shares treated as equity
Ordinary shares of £1.00 each

10,000

10,000

10,000
 
10,000
 
10,000

10,000

10,000
 
10,000
 

Issued and fully paid


2024
2024
2023
2023
Number
£
Number
£

Ordinary shares of £1.00 each

At 1 January and 31 December
10,000

10,000

10,000
 
10,000
 


16.


Reserves


Reserves represent the accumulated balances of comprehensive income and other adjustments recognized directly in equity. 

Retained earnings

Retained earnings increased by £ 49,106 (2023: £51,464) for the year ended 31 December 2024, reflecting the net profit. No dividends were declared. The closing balance as at year end 31 December 2024 is £254,323 (2023: £205,217).


17.


Pension Commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £22,800 (2023: £23,763).

Page 21

 
MISA SERVICES LIMITED


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

18.


Related party transactions

Details of transactions between the Company and its related parties are disclosed below.

18.1 Trading transactions


During the year, the Company entered into the following trading transactions with related parties:



Sales of goods
2024
2023
£
£

Group companies

Mocoh Investments SA
518,153
661,652

The following balances were outstanding at the end of the reporting period:



Amounts owed by related parties
2024
2023
£
£

Group companies

Mocoh Investments SA
277,347
220,018

No expense has been recognised in the current or prior years for bad or doubtful debts in respect of the amounts owed by related parties. No guarantees have been given or received.


19.


Controlling party

MISA Services Limited is a wholly owned subsidiary of Mocoh Investments SA, a Company registered in Switzerland. The parent company produces group accounts into which MISA Services are consolidated. Copies of the group financial statements may be available at the Company's registered office, Rue de la Cite 4, 1204 Geneva, Switzerland.

Page 22