Master Control (U.K.) Limited - Accounts to registrar (filleted) - small 18.2
Master Control (U.K.) Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
FOR |
MASTER CONTROL (U.K.) LIMITED |
MASTER CONTROL (U.K.) LIMITED (REGISTERED NUMBER: 01944964) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
MASTER CONTROL (U.K.) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Counting House |
High Street |
Lutterworth |
Leicestershire |
LE17 4AY |
MASTER CONTROL (U.K.) LIMITED (REGISTERED NUMBER: 01944964) |
BALANCE SHEET |
31 OCTOBER 2019 |
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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. |
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 |
MASTER CONTROL (U.K.) LIMITED (REGISTERED NUMBER: 01944964) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
1. | STATUTORY INFORMATION |
Master Control (U.K.) Limited is a |
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 |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
MASTER CONTROL (U.K.) LIMITED (REGISTERED NUMBER: 01944964) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
3. | ACCOUNTING POLICIES - continued |
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 |
MASTER CONTROL (U.K.) LIMITED (REGISTERED NUMBER: 01944964) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 November 2018 |
Additions |
At 31 October 2019 |
DEPRECIATION |
At 1 November 2018 |
Charge for year |
At 31 October 2019 |
NET BOOK VALUE |
At 31 October 2019 |
At 31 October 2018 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 16,292 | - |
Directors' current accounts | - | 34,700 |
Accrued expenses |
8. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax | 2,227 | 2,561 |
MASTER CONTROL (U.K.) LIMITED (REGISTERED NUMBER: 01944964) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2019 |
8. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 November 2018 |
Credit to Income Statement during year | ( |
) |
Balance at 31 October 2019 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 November 2018 |
Profit for the year |
Dividends | ( |
) |
At 31 October 2019 |
11. | RELATED PARTY DISCLOSURES |
During the year the company paid rent at market rates of £16,800 (2018 £34,700) to the director Mr J M Fairley, |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |