MS Retail Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10656219 (England and Wales)

Unaudited Financial Statements

for the Period 7 March 2017 to 31 May 2018

for

MS Retail Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S Aslam

REGISTERED OFFICE:

c/o Egan Roberts Limited

Suite 46, Manor Court

Salesbury Hall Road

Ribchester

Lancashire

PR3 3XR

REGISTERED NUMBER:

10656219 (England and Wales)

ACCOUNTANTS:

Egan Roberts Limited

Chartered Accountants

Suite 46

Manor Court

Salesbury Hall Road

Ribchester

Lancashire

PR3 3XR

FIXED ASSETS

Intangible assets

4

51,648

Tangible assets

5

7,100

58,748

CURRENT ASSETS

Stocks

6

14,680

Debtors

7

13,607

Cash in hand

1,950

30,237

CREDITORS

Amounts falling due within one year

8

72,513

NET CURRENT LIABILITIES

(42,276

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,472

CREDITORS

Amounts falling due after more than one year

9

(14,989

)

PROVISIONS FOR LIABILITIES

(1,349

)

NET ASSETS

134

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

34

SHAREHOLDERS' FUNDS

134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2018 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 4 December 2018 and were signed by:

Mrs S Aslam - Director

1.	STATUTORY INFORMATION

MS Retail 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

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

items.

Taxation

Taxation for the period 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 period 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

53,800

At 31 May 2018

53,800

AMORTISATION

Amortisation for period

2,152

At 31 May 2018

2,152

NET BOOK VALUE

At 31 May 2018

51,648

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

Additions

5,000

3,800

8,800

At 31 May 2018

5,000

3,800

8,800

DEPRECIATION

Charge for period

750

950

1,700

At 31 May 2018

750

950

1,700

NET BOOK VALUE

At 31 May 2018

4,250

2,850

7,100

6.

STOCKS

£

Stocks

14,680

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

7,250

VAT

1,557

Prepayments

4,800

13,607

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts (see note 10)

25,437

Other loans (see note 10)

14,100

Trade creditors

4,712

Social security and other taxes

3,967

Directors' current accounts

19,827

Accrued expenses

1,970

Deferred consideration

2,500

72,513

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans (see note 10)

14,989

10.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due within one year or on demand:

Bank overdrafts

20,441

Bank loans

4,996

Other loans

14,100

39,537

Amounts falling due between two and five years:

Bank loans - 2-5 years

14,989