Master Control (U.K.) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01944964

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

MASTER CONTROL (U.K.) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J M Fairley

J Fairley

SECRETARY:

J M Fairley

REGISTERED OFFICE:

Unit 4M Gelders Hall Road

Shepshed

Loughborough

Leicestershire

LE12 9NH

REGISTERED NUMBER:

01944964

ACCOUNTANTS:

PWH Accountancy Ltd

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

FIXED ASSETS

Tangible assets

5

17,972

18,802

CURRENT ASSETS

Stocks

19,775

5,734

Debtors

6

44,674

71,663

Cash at bank

118,099

116,107

182,548

193,504

CREDITORS

Amounts falling due within one year

7

94,217

91,676

NET CURRENT ASSETS

88,331

101,828

TOTAL ASSETS LESS CURRENT LIABILITIES

106,303

120,630

PROVISIONS FOR LIABILITIES

8

2,561

2,632

NET ASSETS

103,742

117,998

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

103,642

117,898

SHAREHOLDERS' FUNDS

103,742

117,998

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 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 6 March 2019 and were signed on its behalf by:

J M Fairley - Director

1.	STATUTORY INFORMATION

Master Control (U.K.) Limited is a private company, limited by shares , registered in Not specified/Other. 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates

and assumptions about the carrying values of assets and liabilities that are not readily apparent from other

sources. The estimates and underlying assumptions are based on historical experience and other factors that are

considered relevant, Actual results may differ from these estimates.

Turnover

Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the

ordinary course of the company's activities. Revenue is shown net of VAT and trade discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future

economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale

have been resolved. The company bases its estimates on historical results, taking into consideration the type of

customer, the type of transaction and the specifics of each arrangement.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

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

moving items.

Financial instruments

Financial assets

Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of

receivables is established where there is objective evidence that the company will not be able to collect all

amounts due according to the original terms of payment. Receivables are considered for impairment on a case by

case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities

The company's financial liabilities include trade and other payables, which are measured at amortised cost using

the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the

contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in

which they are incurred.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid

investments with original maturities of three months or less, and bank overdrafts.

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.

Foreign currencies

The financial statements are presented in GBP, being both the company's functional and presentation currency.

Transactions denominated in foreign currencies are translated into GBP at the rates of exchange in operation on

the dates of the transactions. Monetary assets and liabilities expressed in foreign currencies are translated into

GBP at the rates of exchange prevailing at the date of the Statements of Financial Position. Translation

differences are dealt with through the Statement of Comprehensive Income in the period in which they arise.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 November 2017

62,810

76,063

138,873

Additions

1,436

769

2,205

At 31 October 2018

64,246

76,832

141,078

DEPRECIATION

At 1 November 2017

58,676

61,395

120,071

Charge for year

835

2,200

3,035

At 31 October 2018

59,511

63,595

123,106

NET BOOK VALUE

At 31 October 2018

4,735

13,237

17,972

At 31 October 2017

4,134

14,668

18,802

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade debtors

36,378

65,503

Other debtors

5,420

5,420

VAT

2,425

-

Prepayments

451

740

44,674

71,663

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade creditors

45,018

29,261

Tax

3,764

9,755

Social security and other taxes

3,047

3,919

VAT

-

18,553

Directors' current accounts

34,700

25,000

Accrued expenses

7,688

5,188

94,217

91,676

8.	PROVISIONS FOR LIABILITIES

31.10.18

31.10.17

£

£

Deferred tax

2,561

2,632

Deferred

tax

£

Balance at 1 November 2017

2,632

Provided during year

(71

)

Balance at 31 October 2018

2,561

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.18

31.10.17

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 November 2017

117,898

Profit for the year

15,744

Dividends

(30,000

)

At 31 October 2018

103,642

11.	RELATED PARTY DISCLOSURES

During the year the company paid rent at market rates of £34,700 (2017 £25,000) to the director Mr J M Fairley,

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J M Fairley.