Musoft Limited - Accounts to registrar (filleted) - small 17.3

Musoft Limited - Accounts to registrar (filleted) - small 17.3

MUSOFT LIMITED - Company Information

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REGISTERED NUMBER: 01891762 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 March 2017

for

Musoft Limited
The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP








Musoft Limited (Registered number: 01891762)

Contents of the Financial Statements
for the Year Ended 31 March 2017










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Musoft Limited

Company Information
for the Year Ended 31 March 2017







DIRECTOR: Mr P R Muston





SECRETARY: Mr F Muston





REGISTERED OFFICE: Charnwood House
Harcourt Way
Meridian Business Park
Leicestershire
LE19 1WP





REGISTERED NUMBER: 01891762 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP
Page 1
Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Musoft Limited


The following reproduces the text of the report prepared for the director 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 Income Statement and certain
other primary statements and the Report of the Director 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 Musoft Limited for the year ended 31 March 2017 which comprise the
Income Statement, Balance Sheet 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 director of Musoft Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Musoft Limited and state those matters that we have agreed to state to the director of Musoft Limited 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 Musoft Limited and its director for our work or for this report.

It is your duty to ensure that Musoft 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 profit of Musoft Limited. You consider that Musoft 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 Musoft 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.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


20 December 2017

This page does not form part of the statutory financial statements

Page 2
Musoft Limited (Registered number: 01891762)

Balance Sheet
31 March 2017

31.3.17 31.3.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 506

CURRENT ASSETS
Debtors 5 38,684 20,225
Cash at bank 71,752 79,610
110,436 99,835
CREDITORS
Amounts falling due within one year 6 87,839 89,903
NET CURRENT ASSETS 22,597 9,932
TOTAL ASSETS LESS CURRENT
LIABILITIES
22,597
10,438

PROVISIONS FOR LIABILITIES - 101
NET ASSETS 22,597 10,337

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 22,595 10,335
SHAREHOLDERS' FUNDS 22,597 10,337

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 his 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 notes form part of these financial statements

Page 3 continued...
Musoft Limited (Registered number: 01891762)

Balance Sheet - continued
31 March 2017


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 20 December 2017 and were signed by:





Mr P R Muston - Director


The notes form part of these financial statements

Page 4
Musoft Limited (Registered number: 01891762)

Notes to the Financial Statements
for the Year Ended 31 March 2017


1. STATUTORY INFORMATION

Musoft 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 represents the value of services provided under contracts to the extent that there is a
right to consideration and is recorded at the value of the consideration due. Where a contract has
only been partially completed at the balance sheet date turnover represents the value of service
provided to the date based on a proportion of the total expected consideration on completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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.

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.

Page 5 continued...
Musoft Limited (Registered number: 01891762)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 3 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2016
and 31 March 2017 7,023
DEPRECIATION
At 1 April 2016 6,517
Charge for year 506
At 31 March 2017 7,023
NET BOOK VALUE
At 31 March 2017 -
At 31 March 2016 506

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Trade debtors 38,072 20,015
VAT 612 210
38,684 20,225

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Corporation tax 8,167 13,573
Social security and other taxes 1,453 2,122
Other creditors 3,406 4,024
Directors' current accounts 72,900 67,971
Accruals and deferred income 1,913 2,213
87,839 89,903

Page 6 continued...
Musoft Limited (Registered number: 01891762)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.17 31.3.16
value: £    £   
2 Ordinary £1 2 2

8. RELATED PARTY DISCLOSURES

Dividends paid in respect of beneficial shareholdings were as follows:

Mr P R Muston £20,000 (2016 £68,000).

9. FIRST YEAR ADOPTION

This is the first year that the company has presented its accounts under FRS 102 (1A). The latest
financial statements under UK GAAP were for the year ending 31 March 2016. The date of transition
to FRS 102 (1A) was 1 April 2015. There are no changes to the company profits or equity as a result
of its transition from UK GAAP as previously reported under FRS 102 (1A).

Page 7