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Registered number: 09722005
MSS Professional Smokecloak Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Focal Business Group Limited
Chartered Institue of Management Accountants
4A Church Street
Market Harborough
Leicestershire
LE16 7AA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09722005
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 30,076 40,317
30,076 40,317
CURRENT ASSETS
Stocks 45,150 73,250
Debtors 5 124,352 77,040
Cash at bank and in hand 2,633 1,748
172,135 152,038
Creditors: Amounts Falling Due Within One Year 6 (147,722 ) (124,661 )
NET CURRENT ASSETS (LIABILITIES) 24,413 27,377
TOTAL ASSETS LESS CURRENT LIABILITIES 54,489 67,694
Creditors: Amounts Falling Due After More Than One Year 7 (46,733 ) (59,817 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,519 ) (7,660 )
NET ASSETS 237 217
CAPITAL AND RESERVES
Called up share capital 102 102
Profit and Loss Account 135 115
SHAREHOLDERS' FUNDS 237 217
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Beal
Director
7 May 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
MSS Professional Smokecloak Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09722005 . The registered office is 4a Church Street, Market Harborough, Leicestershire, England, LE16 7AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.6. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 62,500 9,666 7,703 79,869
As at 31 August 2024 62,500 9,666 7,703 79,869
Depreciation
As at 1 September 2023 26,367 5,698 7,487 39,552
Provided during the period 9,033 992 216 10,241
As at 31 August 2024 35,400 6,690 7,703 49,793
Net Book Value
As at 31 August 2024 27,100 2,976 - 30,076
As at 1 September 2023 36,133 3,968 216 40,317
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 62,794 34,245
Other debtors 61,558 42,795
124,352 77,040
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,036 7,036
Trade creditors 119,616 95,816
Bank loans and overdrafts 10,000 20,141
Other creditors 161 339
Taxation and social security 10,909 1,329
147,722 124,661
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 31,114 38,150
Bank loans 15,619 21,667
46,733 59,817
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 7,036 7,036
Later than one year and not later than five years 31,114 38,150
38,150 45,186
38,150 45,186
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Richard Beal 30,937 58,036 46,636 - 42,337
The above loan is unsecured, interest free and repayable on demand.
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