MSP (Machine Tools) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 01346217 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2019 TO 21 JANUARY 2020

FOR

MSP (MACHINE TOOLS) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R V Taylor

T A Taylor

REGISTERED OFFICE:

c/o Walker Thompson

Accountants & Registered Auditors

Empress House, 43A Binley Road

Coventry

CV3 1HU

REGISTERED NUMBER:

01346217 (England and Wales)

ACCOUNTANTS:

Walker Thompson Ltd

Accountants & Registered Auditors

Empress House

43a Binley Road

Coventry

CV3 1HU

FIXED ASSETS

Tangible assets

4

-

4,251

CURRENT ASSETS

Stocks

-

90,395

Debtors

5

-

4,800

Cash at bank

-

5,748

-

100,943

CREDITORS

Amounts falling due within one year

6

959

2,583

NET CURRENT (LIABILITIES)/ASSETS

(959

)

98,360

TOTAL ASSETS LESS CURRENT
LIABILITIES

(959

)

102,611

CREDITORS

Amounts falling due after more than one
year

7

-

11,829

NET (LIABILITIES)/ASSETS

(959

)

90,782

CAPITAL AND RESERVES

Called up share capital

513

Retained earnings

(1,472

)

90,269

SHAREHOLDERS' FUNDS

(959

)

90,782

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 21 January 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 21 January 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 July 2020 and were
signed on its behalf by:

T A Taylor - Director

1.	STATUTORY INFORMATION

MSP (Machine Tools) 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

As explained in the report of the directors, the company ceased trading on the balance sheet date and the

financial statements have been prepared on a basis other than that of the going concern basis. This basis

includes, where applicable, writing the company's assets down to net realisable value.

Preparation of consolidated financial statements

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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

-

15% on reducing balance

Office equipment

-

Straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2019 - 2 ).

4.	TANGIBLE FIXED ASSETS

Plant and

Office

machinery

equipment

Totals

£

COST

At 1 August 2019

8,870

3,023

11,893

Disposals

(8,870

)

(3,023

)

(11,893

)

At 21 January 2020

-

DEPRECIATION

At 1 August 2019

6,634

1,008

7,642

Charge for period

140

1,007

1,147

Eliminated on disposal

(6,774

)

(2,015

)

(8,789

)

At 21 January 2020

-

NET BOOK VALUE

At 21 January 2020

-

At 31 July 2019

2,236

2,015

4,251

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

Trade debtors

-

4,800

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

Taxation and social security

-

1,074

Other creditors

959

1,509

959

2,583

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

Other creditors

-

11,829

8.	RELATED PARTY DISCLOSURES

Due to MSP (Machine Tools) Ltd ceasing trade on 21st January 2020, the company has transferred funds and

assets to the associated company MSP Engineering Holdings Ltd.

A loan of £21,590 has been written off during the period.

MSP (Machine Tools) Ltd - Accounts to registrar (filleted) - small 18.2

MSP (Machine Tools) Ltd - Accounts to registrar (filleted) - small 18.2