The MSP Finance Team Ltd
The MSP Finance Team Ltd
Registered number: 13536168
Unaudited Financial Statements
For The Year Ended
31 December 2023
Purple Lime Accountancy
The MSP Finance Team Ltd
Unaudited Financial Statements
For The Year Ended
31 December 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1 |
| Notes to the Financial Statements | 2—3 |
Page 1
The MSP Finance Team Ltd
Balance Sheet
As At
31 December 2023
Balance Sheet
Registered number:
13536168
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 31 December 2023 | 31 December 2022 | ||||
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
( |
( |
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| NET LIABILITIES |
( |
( |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Profit and Loss Account |
( |
( |
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| SHAREHOLDERS' FUNDS | (120,812) | (72,149) | |||
On behalf of the board
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Director
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The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
The MSP Finance Team Ltd
Notes to the Financial Statements
For The Year Ended
31 December 2023
Notes to the Financial Statements
1.
General Information
The MSP Finance Team Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
13536168
. The registered office is The Barn Ashes Lane, Kington Langley, Chippenham, Wiltshire, SN15 5NP.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
4.
Debtors
| 31 December 2023 | 31 December 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| VAT |
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5.
Creditors: Amounts Falling Due Within One Year
| 31 December 2023 | 31 December 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Accruals and deferred income |
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Page 2
Page 3
The MSP Finance Team Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2023
6.
Creditors: Amounts Falling Due After More Than One Year
| 31 December 2023 | 31 December 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Other loans |
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7.
Share Capital
| 31 December 2023 | 31 December 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Allotted, Called up and fully paid |
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Page 3