MSP Engineering Holdings Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03609226 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

FOR

MSP ENGINEERING HOLDINGS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R V Taylor

C A Taylor

T A Taylor

S M Steel

REGISTERED OFFICE:

c/o Walker Thompson

Accountants & Registered Auditors

Empress House, 43A Binley Road

Coventry

CV3 1HU

REGISTERED NUMBER:

03609226 (England and Wales)

ACCOUNTANTS:

Walker Thompson Ltd

Accountants & Registered Auditors

Empress House

43a Binley Road

Coventry

CV3 1HU

FIXED ASSETS

Investments

3

1,873,709

1,633,234

CURRENT ASSETS

Debtors

4

38,829

74,956

Cash at bank

75,880

94,211

114,709

169,167

CREDITORS

Amounts falling due within one year

5

13,110

1,209

NET CURRENT ASSETS

101,599

167,958

TOTAL ASSETS LESS CURRENT LIABILITIES

1,975,308

1,801,192

CAPITAL AND RESERVES

Called up share capital

53

53

Revaluation reserve

6

477,404

263,539

Capital redemption reserve

250,000

250,000

Retained earnings

1,247,851

1,287,600

SHAREHOLDERS' FUNDS

1,975,308

1,801,192

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 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 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 Board of Directors on 19 April 2018 and were signed on its behalf by:

T A Taylor - Director

1.	STATUTORY INFORMATION

MSP Engineering Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

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.

Group accounts

As provided by section 248 of the Companies Act 1985, the company need not prepare group accounts. These

financial statements present information about the company as an individual undertaking and not about its

group.

Investment in subsidiary undertakings

The company accounts for its investments in subsidiary undertakings by the equity method, whereby the original

cost of the investments is adjusted for the movement in underlying net assets applicable to the investments

since their date of acquisition with an adjustment to the company's revaluation reserve.

Any reduction in the value of a subsidiary to below its acquisition cost is written off to profit and loss, unless the

fall is believed to be temporary in nature in which case it is debited to the revaluation reserve.

3.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 August 2016

1,633,234

Additions

243,660

Disposals

(233,330

)

Revaluations

230,145

At 31 July 2017

1,873,709

NET BOOK VALUE

At 31 July 2017

1,873,709

At 31 July 2016

1,633,234

Cost or valuation at 31 July 2017 is represented by:

Other

investments

£

Valuation in 2008

167,087

Valuation in 2009

(49,421

)

Valuation in 2010

(92,591

)

Valuation in 2011

25,368

Valuation in 2012

18,267

Valuation in 2013

(12,198

)

Valuation in 2014

(21,684

)

Valuation in 2015

93,455

Valuation in 2016

118,974

Valuation in 2017

230,146

Cost

1,396,306

1,873,709

4.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Other debtors

-

1,127

Amounts falling due after more than one year:

Other debtors

38,829

73,829

Aggregate amounts

38,829

74,956

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

14

209

Other creditors

13,096

1,000

13,110

1,209

6.

RESERVES

Revaluation

reserve

£

At 1 August 2016

263,539

Revaluation in year

230,145

Transfer to retained profit

(16,280

)

At 31 July 2017

477,404

7.	RELATED PARTY DISCLOSURES