MSK Rail Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07214412

MSK RAIL LIMITED

FILLETED FINANCIAL STATEMENTS

31 March 2025

MSK RAIL LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

Contents	Pages

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3 to 7

MSK RAIL LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	N O'Keeffe
	M J Doughty
	A R Stone
	D J Guildford
	M E Stone

Registered office	Numeric House
	98 Station Road
	Sidcup
	Kent
	DA15 7BY

Auditor	Affinia (Orpington)
	Chartered Accountants & statutory auditor
	Lynwood House
	Crofton Road
	Orpington
	Kent
	BR6 8QE

Bankers	Barclays Bank plc
	1 Churchill Place
	Leicestershire
	England
	LE87 2BB

Solicitors	Clarkson Wright & Jakes Ltd
	Valiant House
	12 Knoll Rise
	Orpington
	BR6 0PG

MSK RAIL LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		–	6,826

Current assets

Debtors	6	18,940	293,430
Cash at bank and in hand		13,249	–
		--------	---------
		32,189	293,430

Creditors: amounts falling due within one year	7	28,183		268,595
		--------		---------
Net current assets			4,006	24,835
			-------	--------
Total assets less current liabilities			4,006	31,661

Provisions

Taxation including deferred tax	–	662
	-------	--------
Net assets	4,006	30,999
	-------	--------

Capital and reserves

Called up share capital	1,000	1,000
Profit and loss account	3,006	29,999
	-------	--------
Shareholders funds	4,006	30,999
	-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their 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 were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

N O'Keeffe

Director

Company registration number: 07214412

MSK RAIL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Numeric House, 98 Station Road, Sidcup, Kent, DA15 7BY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through the statement of comprehensive income. The financial statements are prepared in sterling, which is the functional currency of the entity.

Debtors

Debtors are initially recorded at fair value and are assessed for impairment at each year end date. If any impairments exist the debtors are re-measured to the present value of the expected future cash inflows.

Creditors

Creditors are initially recorded at fair value and are then re-measured to the present value of the expected future cash outflows.

Statement of cash flows

The company has taken advantage of the small companies exemptions and not prepared a statement of cash flows.

Judgements and key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: The key source of estimation uncertainty is revenue recognition on long term contracts. Profits on long term contracts are accrued evenly over the life of the contract. There are two estimated factors that are used in calculating the carrying amounts, being an estimated budgeted gross profit percentage and the estimated percentage of completion. The carrying amounts of the estimated contract values as at 31st March 2025 is nil.

Revenue recognition

Revenue refers to the revenue earned from the Company's principal activity; providing construction services to the railway industry. The revenue shown in the statement of comprehensive income represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, revenue represents the value of work done in the year, including estimates of amounts not invoiced. Revenue in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Motor vehicles	Total
	£	£
Cost
At 1 April 2024	24,763	24,763
Disposals	( 24,763)	( 24,763)
	--------	--------
At 31 March 2025	–	–
	--------	--------
Depreciation
At 1 April 2024	17,937	17,937
Disposals	( 17,937)	( 17,937)
	--------	--------
At 31 March 2025	–	–
	--------	--------
Carrying amount
At 31 March 2025	–	–
	--------	--------
At 31 March 2024	6,826	6,826
	--------	--------

6. Debtors

	2025	2024
	£	£
Amounts owed by group undertakings	18,940	41,883
Other debtors	–	251,547
	--------	---------
	18,940	293,430
	--------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	78,750
Trade creditors	1,008	164,179
Amounts owed to group undertakings	24,175	22,212
Social security and other taxes	–	354
Other creditors	3,000	3,100
	--------	---------
	28,183	268,595
	--------	---------

Security and Guarantees

At the year end date, the following securities and guarantees were in place in respect of the Group’s banking facilities:

- Cross Guarantee and Debenture dated 26 July 2022 between Lesterose Builders Limited,

Lesterose Holdings Limited, MSK Holdings Limited, MSK Southern Limited, MSK Waste Management & Recycling Limited, Multi Services Holdings Limited, and Multi Services Kent Limited.

- Unlimited Guarantee dated 18 May 2021 given by Lesterose Builders Limited,

MSK Holdings Limited, MSK Waste Management & Recycling Limited, and Multi Services Kent Limited.

These arrangements provide security to the bank over the assets of the companies listed.

8. Summary audit opinion

The auditor's report dated 22 December 2025 was unqualified .

The senior statutory auditor was Mark Middleton FCA , for and on behalf of Affinia (Orpington) .

9. Directors' advances, credits and guarantees

At the 2024 year end the company was owed £11,940 by one of the directors. This loan was made interest free and is repayable on demand. This loan was paid on 31/03/2025, so there is no balance at the year end..

10. Related party transactions

During the year, the company purchased materials and hired goods to the total of £6,608 from KPT Solutions Limited (2024: £172,038); there were also credits of £20,276 posted to the same purchases account. At the year ending 31st March 2025 the company did not have any balance owing to KPT Solutions Limited included within trade creditors (2024: £156,416) . The company is related to KPT Solutions Limited by the virtue that both companies have directors in common .

11. Parent company

The company's parent undertaking is MSK Holdings Limited.

12. Ultimate parent company

The company's ultimate parent undertaking is Multi Services Holdings Limited. It has included the company in its consolidated financial statements, copies of which are available from its registered office: Numeric House, 98 Station Road, Sidcup, Kent, DA15 7BY.