Company Registration No. 07669394 (England and Wales)
MSC IT SOLUTIONS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
Evolution Business and Tax Advisors LLP
10 Evolution
Wynyard Park
Wynyard
TS22 5TB
MSC IT SOLUTIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
MSC IT SOLUTIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2014
31 March 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,914
714
Current assets
Debtors
3,801
3,822
Cash at bank and in hand
18,625
34,999
22,426
38,821
Creditors: amounts falling due within one year
(8,064)
(15,707)
Net current assets
14,362
23,114
Total assets less current liabilities
16,276
23,828
Provisions for liabilities
(143)
(143)
16,133
23,685
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
16,132
23,684
Shareholders' funds
16,133
23,685
For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the 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 accounts, so far as applicable to the company.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board for issue on 3 October 2014
Mr M S Cronin
Director
Company Registration No. 07669394
MSC IT SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
33% straight line
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2013
1,349
Additions
2,469
At 31 March 2014
3,818
Depreciation
At 1 April 2013
635
Charge for the year
1,269
At 31 March 2014
1,904
Net book value
At 31 March 2014
1,914
At 31 March 2013
714
MSC IT SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2014
- 3 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1 ordinary share of £1 each
1
1
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