| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements for the Period 13 April 2024 to 13 April 2025 |
| for |
| Msi Works Ltd |
| REGISTERED NUMBER: |
| Report of the Directors and |
| Unaudited Financial Statements for the Period 13 April 2024 to 13 April 2025 |
| for |
| Msi Works Ltd |
| Msi Works Ltd (Registered number: 15643579) |
| Contents of the Financial Statements |
| for the Period 13 April 2024 to 13 April 2025 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5 |
| Msi Works Ltd |
| Company Information |
| for the Period 13 April 2024 to 13 April 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 65 Knowl Piece |
| Wilbury Way |
| Hitchin |
| Hertfordshire |
| SG4 0TY |
| Msi Works Ltd (Registered number: 15643579) |
| Report of the Directors |
| for the Period 13 April 2024 to 13 April 2025 |
| MSI Works Ltd has recorded a net loss for the financial year, primarily due to significant upfront investment in strategic areas essential for future growth and scalability. These losses are not reflective of poor performance, but rather a deliberate positioning strategy to build long-term value. |
| Key factors contributing to the loss include: |
| Research and Development (R&D): A substantial portion of resources was allocated to the development of our HUBi platform, an innovative product that is central to our long-term strategy. These R&D expenditures are considered foundational investments and are expected to generate significant returns in the future. |
| Hiring Ahead of Revenue: We made the decision to onboard key staff members prior to achieving full revenue capacity. This forward looking recruitment ensures we have the internal expertise required to support product development and operational scaling. |
| New Premises and Infrastructure: The move into new premises and the acquisition of cutting-edge technology and equipment has increased our operating expenses. However, these assets are essential to supporting a modern and efficient development environment. |
| Depreciation of Capital Assets: The P&L includes depreciation charges for capital investments made in new technology infrastructure. While these are non-cash expenses, they reflect the long-term capital commitments made during the year. |
| We have secured in excess of £1.1M of business for our second financial year thus far. The secured business alone will put us into a profitable position for financial year 25/26 and that will increase the following year as we have already secured £714k for financial year 26/27 and have a high degree of certainty this will exceed £2M. Our secured orders already take us into financial year 27/28 with a healthy start. |
| We view these losses as strategic and necessary investments to build a sustainable, high growth business. The company is now well positioned to capitalise on these foundations as revenue streams mature in the upcoming financial periods. |
| INCORPORATION |
| The company was incorporated on 13 April 2024 . |
| DIRECTORS |
| The directors who have held office during the period from 13 April 2024 to the date of this report are as follows: |
| All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| Msi Works Ltd (Registered number: 15643579) |
| Income Statement |
| for the Period 13 April 2024 to 13 April 2025 |
| Notes | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| OPERATING LOSS | 4 | ( |
) |
| Interest payable and similar expenses |
| LOSS BEFORE TAXATION | ( |
) |
| Tax on loss | ( |
) |
| LOSS FOR THE FINANCIAL PERIOD | ( |
) |
| Msi Works Ltd (Registered number: 15643579) |
| Balance Sheet |
| 13 April 2025 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Msi Works Ltd (Registered number: 15643579) |
| Notes to the Financial Statements |
| for the Period 13 April 2024 to 13 April 2025 |
| 1. | STATUTORY INFORMATION |
| Msi Works Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| Msi Works Ltd (Registered number: 15643579) |
| Notes to the Financial Statements - continued |
| for the Period 13 April 2024 to 13 April 2025 |
| 4. | OPERATING LOSS |
| The operating loss is stated after charging: |
| £ |
| Depreciation - owned assets |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| Additions |
| At 13 April 2025 |
| DEPRECIATION |
| Charge for period |
| At 13 April 2025 |
| NET BOOK VALUE |
| At 13 April 2025 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |