ACCOUNTS - Final Accounts
ACCOUNTS - Final Accounts
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Registered number:
Unaudited
For the year ended
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MSC Dover Limited
Company Information
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MSC Dover Limited
Contents
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MSC Dover Limited
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of MSC Dover Limited for the year ended 30 September 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MSC Dover Limited for the year ended 30 September 2018 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/ members/regulations-standards-and-guidance/.
This report is made solely to the Board of directors of MSC Dover Limited, as a body, in accordance with the terms of our engagement letter dated 1 March 2017. Our work has been undertaken solely to prepare for your approval the financial statements of MSC Dover Limited and state those matters that we have agreed to state to the Board of directors of MSC Dover Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MSC Dover Limited and its Board of directors, as a body, for our work or for this report.
It is your duty to ensure that MSC Dover 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 MSC Dover Limited. You consider that MSC Dover Limited is exempt from the statutory audit requirement for the year.
Chartered Accountants
37 St Margaret's Street
Kent
CT1 2TU
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MSC Dover Limited
Registered number: 08702516
Balance sheet
As at
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 3 to 6 form part of these financial statements.
Page 2
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MSC Dover Limited
Notes to the financial statements
For the year ended 30 September 2018
MSC Dover Limited is a private limited company limited by shares and is incorporated in England with registration number 08702516. The registered office address of the company is 37 St Margarets Street, Canterbury, Kent, CT1 2TU.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statement are rounded to the nearest pound.
The company's functional and presentational currency is Pounds Sterling.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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MSC Dover Limited
Notes to the financial statements
For the year ended 30 September 2018
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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MSC Dover Limited
Notes to the financial statements
For the year ended 30 September 2018
Page 5
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MSC Dover Limited
Notes to the financial statements
For the year ended 30 September 2018
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,100 (2017 - £51) . Contributions totalling £137 (2017 - £56) were payable to the fund at the balance sheet date and are included in creditors.
In the opinion of the directors, there is no ultimate controlling party.
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