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

REGISTERED NUMBER: 03609226 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2019 TO 21 JANUARY 2020

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

Tangible assets

3

-

-

Investments

4

2,049,271

2,104,540

2,049,271

2,104,540

CURRENT ASSETS

Debtors

5

1,008

11,829

Cash at bank

42,226

21,286

43,234

33,115

CREDITORS

Amounts falling due within one year

6

74,525

2,326

NET CURRENT (LIABILITIES)/ASSETS

(31,291

)

30,789

TOTAL ASSETS LESS CURRENT LIABILITIES

2,017,980

2,135,329

CAPITAL AND RESERVES

Called up share capital

7

53

53

Revaluation reserve

8

571,874

592,513

Capital redemption reserve

250,000

250,000

Retained earnings

1,196,053

1,292,763

SHAREHOLDERS' FUNDS

2,017,980

2,135,329

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 Income Statement 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 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

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.

Taxation

Taxation for the period 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 period 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.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

Additions

1,008

Disposals

(1,008

)

At 21 January 2020

-

NET BOOK VALUE

At 21 January 2020

-

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 August 2019

2,104,540

Additions

145,701

Disposals

(285,463

)

Revaluations

84,493

At 21 January 2020

2,049,271

NET BOOK VALUE

At 21 January 2020

2,049,271

At 31 July 2019

2,104,540

Cost or valuation at 21 January 2020 is represented by:

Other

investments

£

Valuation in 2015

66,620

Valuation in 2016

70,733

Valuation in 2017

149,820

Valuation in 2018

126,072

Valuation in 2019

75,854

Valuation in 2020

82,773

Cost

1,477,399

2,049,271

5.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Directors' loan accounts

1,008

-

2020

2019

£

£

Amounts falling due after more than one year:

Amounts owed by subsidiary company

-

11,829

Aggregate amounts

1,008

11,829

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation and social security

74,525

1,326

Other creditors

-

1,000

74,525

2,326

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

534

Ordinary

£0.10

53

53

8.

RESERVES

Revaluation

reserve

£

At 1 August 2019

592,513

Revaluation in year

84,494

Revaluation written off

(87,558

)

Transfer to retained profit

(17,575

)

At 21 January 2020

571,874

9.	RELATED PARTY DISCLOSURES

During the period the subsidiary company transferred funds and assets to MSP Engineering Holdings Ltd.

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