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Registration number: 12806534

MST Associates Ltd

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2024

 

MST Associates Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

MST Associates Ltd

Company Information

Directors

Mr Mitchell Thompsett

Ms Amarjit Kaur Thompsett

Registered office

3 Gwyndy Road Undy
Caldicot
Monmouthshire
South Wales
NP26 3QE

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

MST Associates Ltd

(Registration number: 12806534)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,597

3,342

Current assets

 

Debtors

7,593

7,389

Cash at bank and in hand

 

10,032

20,572

 

17,625

27,961

Creditors: Amounts falling due within one year

(29,858)

(34,858)

Net current liabilities

 

(12,233)

(6,897)

Total assets less current liabilities

 

(10,636)

(3,555)

Accruals and deferred income

 

(781)

(1,801)

Net liabilities

 

(11,417)

(5,356)

Capital and reserves

 

Called up share capital

6

10

10

Retained earnings

(11,427)

(5,366)

Shareholders' deficit

 

(11,417)

(5,356)

 

MST Associates Ltd

(Registration number: 12806534)
Abridged Balance Sheet as at 31 August 2024

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 May 2025 and signed on its behalf by:
 

.........................................

Mr Mitchell Thompsett
Director

 

MST Associates Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom .

The address of its registered office is:
3 Gwyndy Road Undy
Caldicot
Monmouthshire
South Wales
NP26 3QE

These financial statements were authorised for issue by the Board on 30 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

MST Associates Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

MST Associates Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

7,817

7,817

Additions

278

278

At 31 August 2024

8,095

8,095

Depreciation

At 1 September 2023

4,476

4,476

Charge for the year

2,022

2,022

At 31 August 2024

6,498

6,498

Carrying amount

At 31 August 2024

1,597

1,597

At 31 August 2023

3,342

3,342

 

MST Associates Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

5

Related party transactions

Key management personnel

Directors

Summary of transactions with key management

During the year the company made unsecured, interest free, repayable on demand loans to the directors. At the balance sheet date, the amount owed to the company was £7,506 (2023 - £7,302).
 

Transactions with directors

2024

At 1 September 2023
£

Advances to director
£

At 31 August 2024
£

Mr Mitchell Thompsett

Advances and repayments

7,302

204

7,506

2023

At 1 September 2022
£

At 31 August 2023
£

Mr Mitchell Thompsett

Advances and repayments

7,302

7,302

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10