Masonix Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05937328 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2018

FOR

MASONIX LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A N Mason

Mrs R V Mason

SECRETARY:

Mrs R V Mason

REGISTERED OFFICE:

165 Jamage Road,

Talke Pits

Stoke on Trent

Staffordshire

ST7 1QL

REGISTERED NUMBER:

05937328 (England and Wales)

ACCOUNTANTS:

Acuity Professional Ltd

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

FIXED ASSETS

Tangible assets

4

1,295

1,116

CURRENT ASSETS

Debtors

5

59,830

59,146

Cash at bank

1,207

440

61,037

59,586

CREDITORS

Amounts falling due within one year

6

36,906

52,921

NET CURRENT ASSETS

24,131

6,665

TOTAL ASSETS LESS CURRENT LIABILITIES

25,426

7,781

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

8

25,424

7,779

SHAREHOLDERS' FUNDS

25,426

7,781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 19 May 2019 and were signed on its behalf by:

Mr A N Mason - Director

1.	STATUTORY INFORMATION

Masonix Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The preparation of financial statements in conformity with FRS 102 Section 1A requires the use of certain critical

accounting estimates. It also requires management to exercise judgement in applying the company's accounting

policies.

ACCOUNTING ESTIMATES AND JUDGEMENTS

In preparing the financial statements, management were not required to make any estimates or judgements which

materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities.

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when

paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

TURNOVER

Turnover represents net invoiced sales of services, excluding value added tax.

TANGIBLE FIXED ASSETS

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in

order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on reducing balance

Computer equipment - 25% on reducing balance

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 statement of financial position date.

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at

fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest

method, less any impairment.

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of

not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months

from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of

change in value.

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the

effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 October 2017

556

3,001

3,557

Additions

-

503

503

At 30 September 2018

556

3,504

4,060

Depreciation

At 1 October 2017

531

1,910

2,441

Charge for year

6

318

324

At 30 September 2018

537

2,228

2,765

Net book value

At 30 September 2018

19

1,276

1,295

At 30 September 2017

25

1,091

1,116

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

4,878

4,878

Director's loan account

42,768

42,084

S455 tax recoverable

12,184

12,184

59,830

59,146

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

1,378

665

Corporation tax payable

27,552

25,927

Social security and other taxes

593

246

VAT

7,383

26,083

36,906

52,921

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

£1

2

2

8.

RESERVES

Retained

earnings

£

At 1 October 2017

7,779

Profit for the year

40,761

Dividends

(23,116

)

At 30 September 2018

25,424

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £23,116 (2017 - £32,380) were paid to the directors .

At balance sheet date, there was an amount due from the director, Mr A N Mason of £20,501 (2017 : £19,517) and

Mrs R V Mason of £22,267 (2017 : £22,567).This is an interest free advance from the company and does not have a

fixed date of repayment.

10.	CONTROLLING PARTY

Mr A N Mason and Mrs R V Mason jointly controls the company by virtue of their controlling interest in the

company.