Masonbrook Group Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02061283 (England and Wales)

MASONBROOK GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

Page

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mr M A Smith

REGISTERED OFFICE:

Avebury House

St Peter Street

Winchester

Hampshire

SO23 8BN

REGISTERED NUMBER:

02061283 (England and Wales)

ACCOUNTANTS:

Rothmans CF Limited

Fryern House

125 Winchester Road

Chandlers Ford

Hampshire

SO53 2DR

BANKERS:

National Westminster

275/277 High Street

Hounslow

Middlesex

TW3 1EG

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Masonbrook Group Limited for the year ended 31 August 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Masonbrook Group Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Masonbrook Group Limited and state those matters that we have agreed to state to the director of Masonbrook Group Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Masonbrook Group Limited and its director for our work or for this report.

It is your duty to ensure that Masonbrook Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Masonbrook Group Limited. You consider that Masonbrook Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Masonbrook Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothmans CF Limited

Fryern House

125 Winchester Road

Chandlers Ford

Hampshire

SO53 2DR

29 May 2024

FIXED ASSETS

Tangible assets

4

867

1,965

Investments

5

1

1

Investment property

6

5,568,288

5,568,288

5,569,156

5,570,254

CURRENT ASSETS

Debtors

7

100,955

111,586

Cash at bank and in hand

537,784

466,350

638,739

577,936

CREDITORS

Amounts falling due within one year

8

349,502

330,146

NET CURRENT ASSETS

289,237

247,790

TOTAL ASSETS LESS CURRENT LIABILITIES

5,858,393

5,818,044

CREDITORS

Amounts falling due after more than one year

9

(162,703

)

(192,677

)

PROVISIONS FOR LIABILITIES

(874,931

)

(730,420

)

NET ASSETS

4,820,759

4,894,947

CAPITAL AND RESERVES

Called up share capital

84,404

84,404

Capital redemption reserve

15,596

15,596

Fair value reserve

13

3,879,243

3,879,243

Retained earnings

841,516

915,704

SHAREHOLDERS' FUNDS

4,820,759

4,894,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 29 May 2024 and were signed by:

Mr M A Smith - Director

1.	STATUTORY INFORMATION

Masonbrook Group Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02061283 and the registered office address is Avebury House, St Peter Street, Winchester, Hampshire, SO23 8BN.

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.

The presentation currency is £ sterling.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The preparation of the financial statements require management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

Key sources of estimation uncertainty:

1) Fair value of investment property

The fair value of the property is subject to estimation by the directors. In considering the fair value, directors review rental yields, market conditions and reference to external professional valuations.

Turnover

Turnover mainly consists of rent and maintenance charges (excluding value added tax) which are invoiced quarterly at an agreed rate and adjusted for accrued and deferred income where applicable.

Tangible fixed assets

All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is provided at rates calculated to write off the costs less residual value of each asset over its expected useful life, as follows:

Office Equipment - 33% straight line

Motor Vehicles - 25% straight line

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the income statement.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property

Land and buildings are considered to be investment properties by the directors. The investment properties are revalued annually to open market value and no depreciation is provided. The director considers that this accounting policy results in the financial statements giving a true and fair view. The effect of this departure from the Companies Act 2006 has not been quantified because it is impracticable and, in the opinion of the directors, would be misleading.

The aggregate surplus or deficit arising on revaluation is transferred to the revaluation reserve except where a deficit is deemed to represent a permanent diminution in value, in which case it is charged to the profit and loss account.

The investment properties are shown at their fair value which is revalued every year. Any movement in fair value is recognised in the fair value reserve. Deferred tax is recognised on any fair value adjustments.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

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 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 is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results are stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Office

Motor

equipment

vehicles

Totals

£

£

£

COST

At 1 September 2022

9,141

18,395

27,536

Disposals

-

(18,395

)

(18,395

)

At 31 August 2023

9,141

-

9,141

DEPRECIATION

At 1 September 2022

7,176

18,395

25,571

Charge for year

1,098

-

1,098

Eliminated on disposal

-

(18,395

)

(18,395

)

At 31 August 2023

8,274

-

8,274

NET BOOK VALUE

At 31 August 2023

867

-

867

At 31 August 2022

1,965

-

1,965

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2022

and 31 August 2023

100,000

PROVISIONS

At 1 September 2022

and 31 August 2023

99,999

NET BOOK VALUE

At 31 August 2023

1

At 31 August 2022

1

The company has a financial interest in Sunriser Espresso Pty Limited, a coffee retailer based in Australia. The financial information of the company is considered immaterial so not disclosed.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2022

and 31 August 2023

5,568,288

NET BOOK VALUE

At 31 August 2023

5,568,288

At 31 August 2022

5,568,288

Freehold property is considered to be investment properties by the directors.

The market value of the investment properties has been assessed by the directors.

The historical cost of the investment properties are £967,840 (2022: £967,840).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

47,101

18,040

Amounts owed by group undertakings

-

54,926

Other debtors

43,516

29,665

Prepayments and accrued income

10,338

8,955

100,955

111,586

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

15,491

16,677

Amounts owed to group undertakings

15,050

-

Taxation and social security

22,360

36,972

Other creditors

296,601

276,497

349,502

330,146

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

100,000

100,000

Other creditors

62,703

92,677

162,703

192,677

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more than 5 years - non-instalments

100,000

100,000

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023

2022

£

£

Within one year

6,055

-

Between one and five years

14,129

-

20,184

-

11.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

100,000

100,000

12.	FINANCIAL INSTRUMENTS

The company only has financial assets and liabilities of the kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and debt instruments are subsequently measured at amortised cost.

13.

RESERVES

Fair value

reserve

£

At 1 September 2022

and 31 August 2023

3,879,243