MSP Engineering Holdings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03609226 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

FOR

MSP ENGINEERING HOLDINGS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R V Taylor

C A Taylor

T A Taylor

S M Steel

REGISTERED OFFICE:

c/o Walker Thompson

Accountants & Registered Auditors

Empress House, 43A Binley Road

Coventry

CV3 1HU

REGISTERED NUMBER:

03609226 (England and Wales)

ACCOUNTANTS:

Walker Thompson Ltd

Accountants & Registered Auditors

Empress House

43a Binley Road

Coventry

CV3 1HU

FIXED ASSETS

Investments

3

2,104,540

2,005,533

CURRENT ASSETS

Debtors

4

11,829

34,829

Cash at bank

21,286

52,998

33,115

87,827

CREDITORS

Amounts falling due within one year

5

2,326

1,001

NET CURRENT ASSETS

30,789

86,826

TOTAL ASSETS LESS CURRENT LIABILITIES

2,135,329

2,092,359

CAPITAL AND RESERVES

Called up share capital

6

53

53

Revaluation reserve

7

592,513

566,854

Capital redemption reserve

250,000

250,000

Retained earnings

1,292,763

1,275,452

SHAREHOLDERS' FUNDS

2,135,329

2,092,359

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 12 December 2019 and were signed on its behalf by:

T A Taylor - Director

1.	STATUTORY INFORMATION

MSP Engineering Holdings 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.

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 as modified by the revaluation of certain assets.

As explained in the report of the directors, the company has taken the decision to cease trading in the 12 month

period following the balance sheet date.

The financial statements do not include any provision for the future costs fo terminating the business of the

company except to the extent that such costs were committed at the balance sheet date. All liabilities of the

company at the year end date will be met in full.

Taxation

Taxation for the year 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 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.

Pension costs and other post-retirement benefits

Pension fund contributions are charged to the profit and loss account as paid.

Group accounts

As provided by section 248 of the Companies Act 1985, the company need not prepare group accounts. These

financial statements present information about the company as an individual undertaking and not about its

group.

Investment in subsidiary undertakings

The company accounts for its investments in subsidiary undertakings by the equity method, whereby the original

cost of the investments is adjusted for the movement in underlying net assets applicable to the investments

since their date of acquisition with an adjustment to the company's revaluation reserve.

Any reduction in the value of a subsidiary to below its acquisition cost is written off to profit and loss, unless the

fall is believed to be temporary in nature in which case it is debited to the revaluation reserve.

3.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 August 2018

2,005,533

Additions

303,674

Disposals

(309,315

)

Revaluations

104,648

At 31 July 2019

2,104,540

NET BOOK VALUE

At 31 July 2019

2,104,540

At 31 July 2018

2,005,533

Cost or valuation at 31 July 2019 is represented by:

Other

investments

£

Valuation in 2010

25,075

Valuation in 2011

25,368

Valuation in 2012

18,267

Valuation in 2013

(12,198

)

Valuation in 2014

(21,684

)

Valuation in 2015

66,878

Valuation in 2016

86,770

Valuation in 2017

161,297

Valuation in 2018

138,091

Valuation in 2019

104,648

Cost

1,512,028

2,104,540

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Amounts owed by subsidiary company

11,829

34,829

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

1,326

-

Other creditors

1,000

1,001

2,326

1,001

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

534

Ordinary

£0.10

53

53

7.

RESERVES

Revaluation

reserve

£

At 1 August 2018

566,854

Revaluation in year

104,648

Transfer to retained profit

(78,989

)

At 31 July 2019

592,513

8.	RELATED PARTY DISCLOSURES