MSW Design Limited - Accounts to registrar (filleted) - small 18.2

MSW Design Limited - Accounts to registrar (filleted) - small 18.2

MSW DESIGN LIMITED - Company Information

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REGISTERED NUMBER: 08224298 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

MSW DESIGN LIMITED
Astral Accountancy Services Limited
Astral House
Granville Way
Bicester
Oxfordshire
OX26 4JT








MSW DESIGN LIMITED (REGISTERED NUMBER: 08224298)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MSW DESIGN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2021







DIRECTORS: Mrs M S Wakefield
M Wakefield





REGISTERED OFFICE: Astral House
Granville Way
Bicester
Oxfordshire
OX26 4JT





REGISTERED NUMBER: 08224298 (England and Wales)





ACCOUNTANTS: Astral Accountancy Services Limited
Astral House
Granville Way
Bicester
Oxfordshire
OX26 4JT
Page 1
MSW DESIGN LIMITED (REGISTERED NUMBER: 08224298)

BALANCE SHEET
30 SEPTEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 104 155

CURRENT ASSETS
Debtors 5 2,279 143
Cash at bank 51,740 43,434
54,019 43,577
CREDITORS
Amounts falling due within one year 6 20,450 16,756
NET CURRENT ASSETS 33,569 26,821
TOTAL ASSETS LESS CURRENT
LIABILITIES
33,673
26,976

PROVISIONS FOR LIABILITIES 7 20 29
NET ASSETS 33,653 26,947

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 33,651 26,945
SHAREHOLDERS' FUNDS 33,653 26,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 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 notes form part of these financial statements

Page 2 continued...
MSW DESIGN LIMITED (REGISTERED NUMBER: 08224298)

BALANCE SHEET - continued
30 SEPTEMBER 2021


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 2 March 2022 and were signed on its behalf by:





M Wakefield - Director


The notes form part of these financial statements

Page 3
MSW DESIGN LIMITED (REGISTERED NUMBER: 08224298)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. STATUTORY INFORMATION

MSW Design 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.

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.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in the accounting policies below.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the Revenue costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Equipment - 33% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

Page 4 continued...
MSW DESIGN LIMITED (REGISTERED NUMBER: 08224298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021

4. TANGIBLE FIXED ASSETS
Computer
Equipment
£   
COST
At 1 October 2020
and 30 September 2021 2,715
DEPRECIATION
At 1 October 2020 2,560
Charge for year 51
At 30 September 2021 2,611
NET BOOK VALUE
At 30 September 2021 104
At 30 September 2020 155

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade Debtors 2,156 -
Prepayments 123 143
2,279 143

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Tax 4,078 4,949
Social security and other taxes 61 -
Other creditors 975 -
Directors' Current Account 14,374 10,846
Accruals & Deferred Income 962 961
20,450 16,756

7. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 20 29

Deferred
tax
£   
Balance at 1 October 2020 29
Provided during year (9 )
Balance at 30 September 2021 20

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MSW DESIGN LIMITED (REGISTERED NUMBER: 08224298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
2 Ordinary £1 2 2

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 (2020 - £10,000) were paid to the directors .

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