MSC Contracting Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05234489 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

MSC Contracting Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M S Sweeney

REGISTERED OFFICE:

Wood Cottage

Lower kelly

Calstock

Cornwall

PL18 9RY

REGISTERED NUMBER:

05234489 (England and Wales)

ACCOUNTANTS:

Prydis Accounts Limited

Chartered Accountants

The Parade

Liskeard

Cornwall

PL14 6AF

FIXED ASSETS

Tangible assets

4

3,018

3,671

CURRENT ASSETS

Debtors

5

4,411

5,013

Cash at bank

807

25

5,218

5,038

CREDITORS

Amounts falling due within one year

6

2,979

7,880

NET CURRENT ASSETS/(LIABILITIES)

2,239

(2,842

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,257

829

PROVISIONS FOR LIABILITIES

573

697

NET ASSETS

4,684

132

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

4,584

32

SHAREHOLDERS' FUNDS

4,684

132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered.

The financial statements were approved by the director on 23 September 2019 and were signed by:

Mr M S Sweeney - Director

1.	STATUTORY INFORMATION

MSC Contracting Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The directors have assessed going concern and there are no material uncertainties which may cast significant

doubt about the company's ability to continue. As a result the financial statements have been prepared using the

going concern basis of accounting.

TURNOVER

Sales represents net invoiced sales of services, excluding value added tax.

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

-

33% on reducing balance and 25% on reducing balance

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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 year 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

31,472

Additions

409

At 31 March 2019

31,881

DEPRECIATION

At 1 April 2018

27,801

Charge for year

1,062

At 31 March 2019

28,863

NET BOOK VALUE

At 31 March 2019

3,018

At 31 March 2018

3,671

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

296

80

Other debtors

4,115

4,933

4,411

5,013

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

-

3,324

Trade creditors

321

3,241

Taxation and social security

1,661

569

Other creditors

997

746

2,979

7,880

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and

31 March 2018:

31.3.19

31.3.18

£

£

Mr M S Sweeney

Balance outstanding at start of year

(1,459

)

(1,134

)

Amounts advanced

2,900

-

Amounts repaid

(1,000

)

(325

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

441

(1,459

)