MS3 Networks Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08190151 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st October 2017

for

MS3 Networks Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

R Tarbotton

H V Dommele

A J Hales

REGISTERED OFFICE:

Owen House

Owen Avenue

Priory Park West

Hessle

East Yorkshire

HU13 9PD

REGISTERED NUMBER:

08190151 (England and Wales)

ACCOUNTANTS:

cbaSadofskys

Chartered Accountants

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

BANKERS:

Barclays Bank plc

P O Box 11

Trinity House Lane

Hull

HU1 2JB

FIXED ASSETS

Tangible assets

3

1,089,861

1,126,818

CURRENT ASSETS

Stocks

1,655,286

1,360,133

Debtors

310,877

45,001

Cash at bank

104,544

13,233

2,070,707

1,418,367

CREDITORS

Amounts falling due within one year

3,409,418

2,750,069

NET CURRENT LIABILITIES

(1,338,711

)

(1,331,702

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(248,850

)

(204,884

)

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

(253,850

)

(209,884

)

SHAREHOLDERS' FUNDS

(248,850

)

(204,884

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st October 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 19th July 2018 and were signed on its behalf by:

A J Hales - Director

1.	STATUTORY INFORMATION

MS3 Networks 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.

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.

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

-

15% on reducing balance and 10% on reducing balance

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.

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.

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.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st November 2016

1,521,983

Additions

84,355

At 31st October 2017

1,606,338

DEPRECIATION

At 1st November 2016

395,165

Charge for year

121,312

At 31st October 2017

516,477

NET BOOK VALUE

At 31st October 2017

1,089,861

At 31st October 2016

1,126,818

4.	RELATED PARTY DISCLOSURES

MS3 Networks Limited is 43% owned by RDS Telecoms Limited which is a company registered in England and

Wales.

At the year end the company was owed £2,150 from RDS Telecoms Limited in relation to unpaid share capital.

RDS Telecoms Limited is a wholly owned subsidiary of IWC Consultancy (IWC2) B.V.

There were no transactions with this company during the period.

MS3 Networks Limited is 36% owned by Welch Civils (Mid Wales) Limited in relation to unpaid share capital.

At the year end the company was owed £1,800 from Welch Civils (Mid Wales) Limited in relation to unpaid

share capital.

There were no transactions with this company during the period.

5.	ULTIMATE CONTROLLING PARTY

During the period the company was controlled by the directors.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of MS3 Networks Limited for the year ended 31st October 2017 which comprise the Statement of

Comprehensive Income, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of MS3 Networks Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MS3 Networks Limited and state those matters that we have agreed to state to the Board of Directors of MS3 Networks Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MS3 Networks Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MS3 Networks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of MS3 Networks Limited. You consider that MS3 Networks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of MS3 Networks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

cbaSadofskys

Chartered Accountants

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

19th July 2018