Company registration number 10223063 (England and Wales)
MSW PROFESSIONAL SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
MSW PROFESSIONAL SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MSW PROFESSIONAL SERVICES LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
99
561
Current assets
Debtors
-
0
4,132
Investments
41,000
41,000
Cash at bank and in hand
27,027
2,178
68,027
47,310
Creditors: amounts falling due within one year
(11,578)
(3,776)
Net current assets
56,449
43,534
Net assets
56,548
44,095
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
56,547
44,094
Total equity
56,548
44,095

For the financial year ended 30 June 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 10 June 2025
Mrs M Watson
Director
Company registration number 10223063 (England and Wales)
MSW PROFESSIONAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

MSW Professional Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 79 Eastrop, Highworth, Swindon, UK, SN6 7AT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% straight line
1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.5
Taxation

The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

MSW PROFESSIONAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
MSW PROFESSIONAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
3
Tangible fixed assets
Total
£
Cost
At 1 July 2023 and 30 June 2024
2,558
Depreciation and impairment
At 1 July 2023
1,997
Depreciation charged in the year
462
At 30 June 2024
2,459
Carrying amount
At 30 June 2024
99
At 30 June 2023
561
4
Financial instruments
2024
2023
£
£
Carrying amount of financial assets include:
Instruments measured at fair value through profit or loss
41,000
41,000
MSW PROFESSIONAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
5
Related party transactions

The company is controlled by Mrs M Watson who is a joint shareholder.

 

During the year dividends were paid amounting to £16,158 to the director.

 

At 30 June 2022 Mrs Watson was owed £1,114 (2023 - owed the company £4,132). This amount is included in other creditors (2023 - other debtors).

2024-06-302023-07-01falsefalsefalse10 June 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMrs M WatsonMr B  Price102230632023-07-012024-06-30102230632024-06-30102230632023-06-3010223063core:ShareCapital2024-06-3010223063core:ShareCapital2023-06-3010223063core:RetainedEarningsAccumulatedLosses2024-06-3010223063core:RetainedEarningsAccumulatedLosses2023-06-3010223063bus:Director12023-07-012024-06-3010223063core:PlantMachinery2023-07-012024-06-30102230632022-07-012023-06-30102230632023-06-3010223063bus:PrivateLimitedCompanyLtd2023-07-012024-06-3010223063bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3010223063bus:FRS1022023-07-012024-06-3010223063bus:AuditExemptWithAccountantsReport2023-07-012024-06-3010223063bus:CompanySecretary12023-07-012024-06-3010223063bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP