MSL Digital Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 09291043 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

MSL DIGITAL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Dr M M Sheehy

REGISTERED OFFICE:

12 Croft Road

Hastings

East Sussex

TN34 3HJ

REGISTERED NUMBER:

09291043 (England and Wales)

ACCOUNTANTS:

Acuity Professional (Sellens French) LLP

91-97 Bohemia Road

St Leonards on Sea

East Sussex

TN37 6RJ

FIXED ASSETS

Tangible assets

4

2,101

-

CURRENT ASSETS

Debtors

5

12,645

-

Cash at bank

2,948

97

15,593

97

CREDITORS

Amounts falling due within one year

6

19,585

10,818

NET CURRENT LIABILITIES

(3,992

)

(10,721

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,891

)

(10,721

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(1,991

)

(10,821

)

SHAREHOLDERS' FUNDS

(1,891

)

(10,721

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 8 August 2017 and were signed by:

Dr M M Sheehy - Director

1.	STATUTORY INFORMATION

MSL Digital 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The accounts show net current liabilities of £3,992 and total net liabilities of £1,891 as at the balance sheet

date. The accounts have been prepared on a going concern basis as the director and shareholder have agreed to

provide such funding as necessary to enable the company to continue to trade.

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

-

33% on cost and 25% 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

Additions

2,901

At 31 March 2017

2,901

Depreciation

Charge for year

800

At 31 March 2017

800

Net book value

At 31 March 2017

2,101

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

2,100

-

Amounts owed by associates

10,545

-

12,645

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1,537

1,000

Directors' current accounts

6,198

9,818

Accruals and deferred income

11,850

-

19,585

10,818

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

8.	RELATED PARTY DISCLOSURES

At balance sheet date, there was an amount due to the director for £6,198 (2015: £9,818). This is an interest

free advance to the company and does not have a fixed date of repayment.

9.	ULTIMATE CONTROLLING PARTY

The director has ultimate control of the company.

10.	FIRST YEAR ADOPTION

The company has adopted FRS 102 section 1A from 1st April 2016.

The transition has not affected the financial position and performance of the company during the current and

previous year.