Mason Brothers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00546737 (England and Wales)

MASON BROTHERS LIMITED

Unaudited Financial Statements

for the Year Ended 30 September 2019

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTOR:

G E Mason

SECRETARY:

Mrs J F Mason

REGISTERED OFFICE:

C/o Keith Willis Associates Ltd

Gothic House

Barker Gate

Nottingham

NG1 1JU

REGISTERED NUMBER:

00546737 (England and Wales)

ACCOUNTANTS:

Keith Willis Associates Limited

Gothic House

Barker Gate

Nottingham

Nottinghamshire

NG1 1JU

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2019 set out on pages four to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Keith Willis Associates Limited

Gothic House

Barker Gate

Nottingham

Nottinghamshire

NG1 1JU

11 February 2020

FIXED ASSETS

Tangible assets

4

19,377

24,899

Investment property

5

197,064

197,064

216,441

221,963

CURRENT ASSETS

Debtors

6

6,850

53,769

Cash at bank and in hand

118,654

93,201

125,504

146,970

CREDITORS

Amounts falling due within one year

7

92,964

88,980

NET CURRENT ASSETS

32,540

57,990

TOTAL ASSETS LESS CURRENT LIABILITIES

248,981

279,953

CAPITAL AND RESERVES

Called up share capital

537,000

537,000

Retained earnings

(288,019

)

(257,047

)

SHAREHOLDERS' FUNDS

248,981

279,953

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 applicable to companies subject to the small companies regime.

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 11 February 2020 and were signed by:

G E Mason - Director

1.	STATUTORY INFORMATION

Mason Brothers 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 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.

Turnover

Turnover represents net invoiced rents and recharged expenses, excluding value added tax.

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 etc

-

25% on cost and 20% on cost

Investment properties are included in the balance sheet at their estimated market value in accordance with the

Financial Reporting Standard for Smaller Entities and are not depreciated. The market value is arrived at by

estimating the present value of the future rental income over the remaining period of the lease.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 October 2018

30,205

5,452

35,657

Additions

-

1,019

1,019

At 30 September 2019

30,205

6,471

36,676

DEPRECIATION

At 1 October 2018

6,041

4,717

10,758

Charge for year

6,041

500

6,541

At 30 September 2019

12,082

5,217

17,299

NET BOOK VALUE

At 30 September 2019

18,123

1,254

19,377

At 30 September 2018

24,164

735

24,899

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2018

and 30 September 2019

197,064

NET BOOK VALUE

At 30 September 2019

197,064

At 30 September 2018

197,064

The directors value the company's leasehold property at the year end based on the estimated present value of

the future rental income over the remaining period of the lease. At 30 September 2019 this equates to cost.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

3,238

1,765

Other debtors

3,612

52,004

6,850

53,769

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

6,620

10,113

Taxation and social security

2,630

1,598

Other creditors

83,714

77,269

92,964

88,980