J M Mason Limited - Period Ending 2021-06-30

J M Mason Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

J M Mason Limited

Company Information

Director

J M Mason

Registered office

Hazeldine House Telford Town Centre Telford Shropshire TF3 4JL

Accountants

CBSL Accountants Limited Chartered Accountants Rowan House North 1 The Professional Quarter Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

J M Mason Limited

(Registration number: 07265103)
Balance Sheet as at 30 June 2021

	Note	2021 £	2020 £
Fixed assets
Intangible assets	4	-	22,500
Current assets
Debtors	5	238,905	233,254
Cash at bank and in hand		78,020	-
		316,925	233,254
Creditors: Amounts falling due within one year	6	(44,915)	(46,515)
Net current assets		272,010	186,739
Net assets		272,010	209,239
Capital and reserves
Called up share capital	7	2	2
Profit and loss account		272,008	209,237
Shareholders' funds		272,010	209,239

For the financial year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 24 March 2022
 

J M Mason
Director

J M Mason Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hazeldine House
Telford Town Centre
Telford
Shropshire
TF3 4JL

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	NBV of goodwill at 30/06/2016 over 5 years straight line.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

J M Mason Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2021

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 July 2020	150,000	150,000
At 30 June 2021	150,000	150,000
Amortisation
At 1 July 2020	127,500	127,500
Amortisation charge	22,500	22,500
At 30 June 2021	150,000	150,000
Carrying amount
At 30 June 2021	-	-
At 30 June 2020	22,500	22,500

5

Debtors

	Note	2021 £	2020 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	8	238,905	233,254
		238,905	233,254

6

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Taxation and social security	40,914	25,322
Other creditors	4,001	21,193
	44,915	46,515

J M Mason Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2021

7	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

8	Related party transactions

Summary of transactions with other related parties

J M Mason Limited is a designated member of Clarkes Limited Liability Partnership.
 
At the year end monies due from Clarkes LLP amounted to £238,905 (2020 - £233,254) and monies due to the director amounted to £4,001 (2020 - £21,192).