M S A Systems Limited Filleted accounts for Companies House (small and micro)

M S A Systems Limited Filleted accounts for Companies House (small and micro)

M S A SYSTEMS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 3438448
M S A Systems Limited
Filleted Unaudited Abridged Financial Statements
31 May 2021
M S A Systems Limited
Abridged Financial Statements
Year ended 31st May 2021
Contents
Page
Officers and professional advisers
1
Accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements
2
Abridged statement of financial position
3
Notes to the abridged financial statements
5
M S A Systems Limited
Officers and Professional Advisers
The Board of Directors
Mr M. Smith
Mrs H.M. Smith
Company Secretary
Mr M. Smith
Registered Office
75 Brindley Street
Stourport on Severn
Worcestershire
DY13 8JG
Accountants
WH Audit Limited
Accountants
The White House
Station Road
West Hagley
Stourbridge
West Midlands
DY9 0NU
Bankers
HSBC Bank plc
1 Great Cornbow
Halesowen
West Midlands
B63 3AD
M S A Systems Limited
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of M S A Systems Limited
Year ended 31st May 2021
As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 31st May 2021, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
WH Audit Limited Accountants
The White House Station Road West Hagley Stourbridge West Midlands DY9 0NU
21 March 2022
M S A Systems Limited
Abridged Statement of Financial Position
31 May 2021
2021
2020
Note
£
£
£
Current assets
Debtors
5
40,624
75,271
Cash at bank and in hand
–
714
--------
--------
40,624
75,985
Creditors: amounts falling due within one year
6
6,509
6,710
--------
--------
Net current assets
34,115
69,275
--------
--------
Total assets less current liabilities
34,115
69,275
--------
--------
Net assets
34,115
69,275
--------
--------
M S A Systems Limited
Abridged Statement of Financial Position (continued)
31 May 2021
2021
2020
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
34,015
69,175
--------
--------
Shareholders funds
34,115
69,275
--------
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31st May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31st May 2021 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 21 March 2022 , and are signed on behalf of the board by:
Mr M. Smith
Director
Company registration number: 3438448
M S A Systems Limited
Notes to the Abridged Financial Statements
Year ended 31st May 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 75 Brindley Street, Stourport on Severn, Worcestershire, DY13 8JG.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
2021
2020
£
£
Equity dividends on ordinary shares
35,000
35,000
--------
--------
5. Debtors
2021
2020
£
£
Other debtors
40,624
75,271
--------
--------
6. Creditors: amounts falling due within one year
2021
2020
£
£
Accruals and deferred income
540
540
Corporation tax
5,969
6,170
-------
-------
6,509
6,710
-------
-------
7. Directors' advances, credits and guarantees
The directors' combined overdrawn loan accounts at the year end were £22,162 (£56,809 - 2020).