Mass Developments UK Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04007317 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

FOR

MASS DEVELOPMENTS UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M A Steventon-Smith

SECRETARY:

Mrs J K Steventon-Smith

REGISTERED OFFICE:

Brookgate House

15 Brookgate

Bristol

BS3 2UN

REGISTERED NUMBER:

04007317 (England and Wales)

ACCOUNTANTS:

Burnside

Chartered Accountants

and Statutory Auditor

61 Queen Square

Bristol

BS1 4JZ

FIXED ASSETS

Tangible assets

4

203,307

223,253

CURRENT ASSETS

Debtors

5

424,893

236,865

Cash at bank

282,676

231,854

707,569

468,719

CREDITORS

Amounts falling due within one year

6

164,591

153,345

NET CURRENT ASSETS

542,978

315,374

TOTAL ASSETS LESS CURRENT LIABILITIES

746,285

538,627

PROVISIONS FOR LIABILITIES

7

29,921

33,126

NET ASSETS

716,364

505,501

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

716,362

505,499

SHAREHOLDERS' FUNDS

716,364

505,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 and authorised for issue on 7 June 2022 and were signed by:

M A Steventon-Smith - Director

1.	STATUTORY INFORMATION

Mass Developments UK 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

33% on cost and 20% on cost

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.

Pension costs and other post-retirement benefits

Short term employee benefits including holiday pay and annual bonuses are accrued as services are rendered.

The company operates a defined contribution pension scheme for employees. Contributions payable to the company's pension scheme are charged to the statement of comprehensive income as they become payable in accordance with the rules of the scheme. Differences between contributions payable in the year and those actually paid are shown as either accruals or prepayments in the balance sheet.

Financial instruments

Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.

Interest bearing bank loans, overdrafts and other loans which meet the criteria of basic financial instruments are initially recorded at the present value of cash payable to the bank, usually being equivalent to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method.

Going concern

The company continues to be profitable and the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2020 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Office

Motor

Computer

machinery

equipment

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2020

183,031

4,733

434,091

5,250

627,105

Additions

68,750

-

31,897

-

100,647

At 30 June 2021

251,781

4,733

465,988

5,250

727,752

DEPRECIATION

At 1 July 2020

134,402

4,733

259,467

5,250

403,852

Charge for year

42,078

-

78,515

-

120,593

At 30 June 2021

176,480

4,733

337,982

5,250

524,445

NET BOOK VALUE

At 30 June 2021

75,301

-

128,006

-

203,307

At 30 June 2020

48,629

-

174,624

-

223,253

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

424,893

236,865

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

45,585

28,045

Taxation and social security

79,377

84,067

Other creditors

39,629

41,233

164,591

153,345

7.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

29,921

33,126

Deferred

tax

£

Balance at 1 July 2020

33,126

Movement in the year

(3,205

)

Balance at 30 June 2021

29,921

The provision for deferred tax is made up as follows:

2021

2020

£

£

Accelerated capital allowances

29,921

33,126

Tax losses

-

-

Other timing differences

-

-

29,921

33,126

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

2

Ordinary

£1

2

2

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

M A Steventon-Smith and Mrs J K Steventon-Smith, the director and shareholder, have provided a joint loan to the company. The balance outstanding at 30 June 2021 was £10,922 (2020 - £14,178).

10.	RELATED PARTY DISCLOSURES

11.	ULTIMATE CONTROLLING PARTY