MSW Developments Limited 31/10/2025 iXBRL

Company registration number: NI021852

MSW Developments Limited

Unaudited filleted financial statements

31 October 2025

MSW Developments Limited

Contents

Directors and other information

Accountants report

Balance sheet

Notes to the financial statements

MSW Developments Limited

Directors and other information


	Director	Mr Robert Mackey


	Secretary	Mrs Irene Mackey


	Company number	NI021852


	Registered office	6/7 Church Street
		Banbridge
		BT32 4AA


	Business address	Unit 45a Seagoe Industrial Estate
		Portadown
		BT63 5QE


	Accountants	Jones Peters
		6 Church Street
		Banbridge
		Co Down
		BT32 4AA




	Bankers	Danske Bank
		45-48 High Street
		Portadown
		Co Armagh
		BT62 1LB


	Solicitors	James G. Rice & Co.
		33 Church Street
		Ballynahinch
		BT24 8AE

MSW Developments Limited

Report to the director on the preparation of the

unaudited statutory financial statements of MSW Developments Limited

Year ended 31 October 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MSW Developments Limited for the year ended 31 October 2025 which comprise the Balance sheet and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.

This report is made solely to the director of MSW Developments Limited, as a body, in accordance with the terms of our engagement letter dated 11 March 2026. Our work has been undertaken solely to prepare for your approval the financial statements of MSW Developments Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MSW Developments Limited and its director as a body for our work or for this report.

It is your duty to ensure that MSW Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of MSW Developments Limited. You consider that MSW Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MSW Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Jones Peters

Chartered Accountants

6 Church Street

Banbridge

Co Down

BT32 4AA

11 March 2026

MSW Developments Limited

Balance sheet

31 October 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Investments	4	1,328,660		1,328,660
		_______		_______
			1,328,660		1,328,660

Current assets
Debtors	5	50,170		684
Cash at bank and in hand		136,287		91,680
		_______		_______
		186,457		92,364
Creditors: amounts falling due
within one year	6	( 736,737)		( 729,531)
		_______		_______
Net current liabilities			( 550,280)		( 637,167)
			_______		_______
Total assets less current liabilities			778,380		691,493

			_______		_______
Net assets			778,380		691,493
			_______		_______

Capital and reserves
Called up share capital	7		100		100
Profit and loss account			778,280		691,393
			_______		_______
Shareholders funds			778,380		691,493
			_______		_______

For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- 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 their responsibilities for complying with the requirements of the Act 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 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 Profit and loss account and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 11 March 2026 , and are signed on behalf of the board by:

Mr Robert Mackey

Director

Company registration number: NI021852

MSW Developments Limited

Notes to the financial statements

Year ended 31 October 2025

1. Statement of compliance

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

2. Accounting policies

Basis of preparation

MSW Developments Limited is a private company limited by shares incorporated in Northern Ireland within the United Kingdom. The address of the registered office is given in the company information page of these financial statements.The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain assets and liabilities and investment properties measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Judgements and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements.

Rental Income

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. The company's turnover for the year all relates to rental income.

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, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Fixed asset investments

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. As these properties are held for investment purposes, not consumption, depreciation is not considered to be relevant.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

3. Employee numbers

The average number of persons employed by the company during the year amounted to one (2024: 1).

4. Investments

	Other loans	Total

	£	£
Cost
At 1 November 2024 and 31 October 2025	1,328,660	1,328,660
	_______	_______
Impairment
At 1 November 2024 and 31 October 2025	-	-
	_______	_______
Carrying amount
At 31 October 2025	1,328,660	1,328,660
	_______	_______
At 31 October 2024	1,328,660	1,328,660
	_______	_______

The investment properties at Units 3 & 4 Hawthorn Office Park were valued by Myles Danker Associates Ltd in March 2012. The director is satisfied that no material adjustment is required in respect of either property as at 31 October 2025.

5. Debtors

	2025	2024
	£	£
Trade debtors	49,140	-
Other debtors	1,030	684
	_______	_______
	50,170	684
	_______	_______

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	24,731	21,234
Amounts owed to connected companies	656,333	656,333
Corporation tax	26,116	27,282
Social security and other taxes	4,317	4,431
Other creditors	25,240	20,251
	_______	_______
	736,737	729,531
	_______	_______

7. Called up share capital

Issued and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £1 each. (2024: £1.00)	100	100	100	100

8. Related party transactions

Mr Robert Mackey , director, is also a director and shareholder of M.S.M (Contracts) Ltd. MSW Developments Limited owed £656,333 (2023: £656,333) to M.S.M (Contracts) Ltd as at 31 October 2025. MSW Developments Limited received rental income from M.S.M (Contracts) Ltd during the year ended 31 October 2025 of £49,700 (2024: £49,700).

9. Controlling party

The company is controlled by the director.