Masonbrook Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01109712 (England and Wales)

MASONBROOK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

Mr M A Smith

REGISTERED OFFICE:

Avebury House

St Peter Street

Winchester

Hampshire

SO23 8BN

REGISTERED NUMBER:

01109712 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Hampshire

SO53 2DR

BANKERS:

National Westminster

275/277 High Street

Hounslow

Middlesex

TW3 1EG

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 Masonbrook Limited for the year ended 31 August 2018 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 Masonbrook Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Masonbrook Limited and state those matters that we have agreed to state to the director of Masonbrook 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 Masonbrook Limited and its director for our work or for this report.

It is your duty to ensure that Masonbrook 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 Masonbrook Limited. You consider that Masonbrook 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 Masonbrook 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.

Rothman Pantall LLP

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Hampshire

SO53 2DR

31 May 2019

FIXED ASSETS

Investment property

3

50,000

50,000

CURRENT ASSETS

Debtors

4

178,156

144,425

Cash at bank

11,000

6,635

189,156

151,060

CREDITORS

Amounts falling due within one year

5

358,346

341,175

NET CURRENT LIABILITIES

(169,190

)

(190,115

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(119,190

)

(140,115

)

CAPITAL AND RESERVES

Called up share capital

100,000

100,000

Fair value reserve

7

10,000

10,000

Retained earnings

(229,190

)

(250,115

)

SHAREHOLDERS' FUNDS

(119,190

)

(140,115

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 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 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 31 May 2019 and were signed by:

Mr M A Smith - Director

1.	STATUTORY INFORMATION

Masonbrook 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.

Masonbrook Limited is a private company, limited by shares, registered in England and Wales. The company's

registered number is 01109712 and the registered office address is Avebury House, St Peter Street, Winchester,

Hampshire, SO23 8BN.

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 presentation currency is £ sterling.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and

assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the

amounts reported for revenues and expenses during the year. However, the nature of estimation means that

actual outcomes could differ from those estimates.

Key sources of estimation uncertainty:

1) Fair value of investment property

The fair value of the property is subject to estimation by the directors. In considering the fair value, directors

review rental yields, market conditions and reference to external professional valuations.

Turnover

Turnover represents income from the maintenance and repair of properties during the year (excluding value

added tax) adjusted for accrued and deferred income where applicable.

Investment property

Investment property is carried at fair value determined by external valuers and derived from the current market

rents and investment property yields for comparable real estate adjusted if necessary for any difference in the

nature, locations or condition of the specific asset. No depreciation is provided. Changes in fair value are

recognised in profit or loss.

The aggregate surplus or deficit arising on revaluation is transferred to the investment property revaluation

reserve.

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 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 is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a

right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences

between the company's taxable profits and its results are stated in the financial statements that arise from the

inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in

the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing

differences are expected to reverse, based on tax rates and laws that have been enacted or substantively

enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

Going concern

The company is reliant on the continued support of the directors and the holding company and believe that it is

appropriate for the financial statements to be prepared on a going concern basis.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2017

and 31 August 2018

50,000

NET BOOK VALUE

At 31 August 2018

50,000

At 31 August 2017

50,000

Land and buildings are considered to be investment properties by the directors.

The market value of the investment properties has been assessed by the directors.

The historical cost of the investment property is £40,000 (2017: £40,000)

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

178,156

144,425

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

7,963

515

Amounts owed to group undertakings

336,343

332,654

Taxation and social security

13,290

3,256

Other creditors

750

4,750

358,346

341,175

6.	FINANCIAL INSTRUMENTS

The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic

financial instruments are initially recognised at transaction value and debt instruments are subsequently

measured at amortised cost.

7.

RESERVES

Fair

value

reserve

£

At 1 September 2017

and 31 August 2018

10,000

8.	ULTIMATE PARENT COMPANY

The company's ultimate parent company is Masonbrook Group Limited.