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REGISTERED NUMBER: 15643579 (England and Wales)















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: J R Dente
J P Hubbard
D J Salisbury





REGISTERED OFFICE: 3rd Floor, 86-90 Paul Street
London
United Kingdom
EC2A 4NE





REGISTERED NUMBER: 15643579 (England and Wales)





ACCOUNTANTS: Godfrey Laws & Co Limited
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:

J R Dente - appointed 13 April 2024
J P Hubbard - appointed 30 December 2024
D J Salisbury - appointed 30 December 2024

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:





D J Salisbury - Director


28 July 2025

Msi Works Ltd (Registered number: 15643579)

Income Statement
for the Period 13 April 2024 to 13 April 2025

Notes £   

TURNOVER 633,706

Cost of sales 236,300
GROSS PROFIT 397,406

Administrative expenses 461,455
OPERATING LOSS 4 (64,049 )


Interest payable and similar expenses 36,536
LOSS BEFORE TAXATION (100,585 )

Tax on loss (16,101 )
LOSS FOR THE FINANCIAL PERIOD (84,484 )

Msi Works Ltd (Registered number: 15643579)

Balance Sheet
13 April 2025

Notes £    £   
FIXED ASSETS
Tangible assets 5 22,512

CURRENT ASSETS
Debtors 6 130,021
Cash at bank 39,037
169,058
CREDITORS
Amounts falling due within one year 7 276,053
NET CURRENT LIABILITIES (106,995 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(84,483

)

CAPITAL AND RESERVES
Called up share capital 1
Retained earnings (84,484 )
(84,483 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 13 April 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 13 April 2025 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2025 and were signed on its behalf by:





D J Salisbury - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

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 9 .

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 3,092

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 25,604
At 13 April 2025 25,604
DEPRECIATION
Charge for period 3,092
At 13 April 2025 3,092
NET BOOK VALUE
At 13 April 2025 22,512

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 26,040
Other debtors 103,981
130,021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 22,122
Trade creditors 20,413
Taxation and social security 186,313
Other creditors 47,205
276,053