Merchandising Systems Solutions Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07435831 (England and Wales)

MERCHANDISING SYSTEMS SOLUTIONS LTD

Unaudited Financial Statements

for the Year Ended 31 March 2023

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Directors:

Mr D S Littlejohn

Mrs L C Littlejohn

Secretary:

Mrs L C Littlejohn

Registered office:

Artisans' House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

Registered number:

07435831 (England and Wales)

Accountants:

Cobley Desborough

Chartered Certified Accountants

Chartered Tax Advisers

Artisans' House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

FIXED ASSETS

Tangible assets

4

52,127

66,702

Investment property

5

215,166

215,166

267,293

281,868

CURRENT ASSETS

Stocks

42,865

37,250

Debtors

6

3,762

294

Cash at bank

63,552

122,095

110,179

159,639

CREDITORS

Amounts falling due within one year

7

31,742

37,768

NET CURRENT ASSETS

78,437

121,871

TOTAL ASSETS LESS CURRENT LIABILITIES

345,730

403,739

CREDITORS

Amounts falling due after more than one year

8

21,667

31,667

NET ASSETS

324,063

372,072

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

323,963

371,972

SHAREHOLDERS' FUNDS

324,063

372,072

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 14 September 2023 and were signed on its behalf by:

Mr D S Littlejohn - Director

1.	STATUTORY INFORMATION

Merchandising Systems Solutions 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.

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.

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 etc

-

25% on reducing balance and 15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Going concern

The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses of these assets which would affect their decision to adopt the going concern basis.

The director is therefore satisfied and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Theses financial statements have therefore been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 April 2022

134,164

Additions

1,734

Disposals

(3,319

)

At 31 March 2023

132,579

Depreciation

At 1 April 2022

67,462

Charge for year

16,155

Eliminated on disposal

(3,165

)

At 31 March 2023

80,452

Net book value

At 31 March 2023

52,127

At 31 March 2022

66,702

5.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 April 2022

and 31 March 2023

215,166

Net book value

At 31 March 2023

215,166

At 31 March 2022

215,166

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

3,193

-

Other debtors

569

294

3,762

294

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

1,304

15,431

Taxation and social security

8,994

6,178

Other creditors

11,444

6,159

31,742

37,768

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

21,667

31,667