Master Class (Liverpool) Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 08240665 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2022

for

Master Class (Liverpool) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms C L Penter

Mrs J A Meehan

REGISTERED OFFICE:

117-121 Oxford Road

Waterloo

Liverpool

L22 7RE

REGISTERED NUMBER:

08240665 (England and Wales)

ACCOUNTANTS:

Craig Callum Associates Ltd

Landmark House

43-45 Merton Road

Bootle

Liverpool

Merseyside

L20 7AP

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,171

8,228

6,171

8,228

CURRENT ASSETS

Cash at bank

4,372

20,077

CREDITORS

Amounts falling due within one year

6

9,035

7,779

NET CURRENT (LIABILITIES)/ASSETS

(4,663

)

12,298

TOTAL ASSETS LESS CURRENT LIABILITIES

1,508

20,526

CREDITORS

Amounts falling due after more than one year

7

13,250

15,200

NET (LIABILITIES)/ASSETS

(11,742

)

5,326

CAPITAL AND RESERVES

Called up share capital

12

12

Retained earnings

(11,754

)

5,314

SHAREHOLDERS' FUNDS

(11,742

)

5,326

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors and authorised for issue on 17 July 2023 and were signed on its behalf by:

Ms C L Penter - Director

1.	STATUTORY INFORMATION

Master Class (Liverpool) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twelve years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2021

and 31 October 2022

1,195

AMORTISATION

At 1 November 2021

and 31 October 2022

1,195

NET BOOK VALUE

At 31 October 2022

-

At 31 October 2021

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2021

and 31 October 2022

29,443

DEPRECIATION

At 1 November 2021

21,215

Charge for year

2,057

At 31 October 2022

23,272

NET BOOK VALUE

At 31 October 2022

6,171

At 31 October 2021

8,228

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Bank loans and overdrafts

2,900

3,800

Taxation and social security

766

1,620

Other creditors

5,369

2,359

9,035

7,779

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.22

31.10.21

£

£

Bank loans

13,250

15,200

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2022 and 31 October 2021:

31.10.22

31.10.21

£

£

Mrs J A Meehan

Balance outstanding at start of year

(242

)

(297

)

Amounts advanced

-

55

Amounts repaid

(1,505

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,747

)

(242

)

Mr J J Meehan

Balance outstanding at start of year

-

(297

)

Amounts advanced

-

297

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Ms C L Penter

Balance outstanding at start of year

(242

)

(297

)

Amounts advanced

-

55

Amounts repaid

(1,505

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,747

)

(242

)

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Ms C L Penter.