MASHOL LIMITED Company Accounts

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COMPANY REGISTRATION NUMBER: 0781750

MASHOL LIMITED

Filleted Unaudited Financial Statements

31 March 2017

MASHOL LIMITED

Financial Statements

Year ended 31 March 2017

Contents	Page

Statement of financial position	1

Statement of changes in equity	3

Notes to the financial statements	4

MASHOL LIMITED

Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		700,000	321,021

Current assets

Debtors	6	920,500	1,157,046
Cash at bank and in hand		188,718	13,663
		------------	------------
		1,109,218	1,170,709

Creditors: amounts falling due within one year	7	350,485		364,962
		------------		------------
Net current assets			758,733	805,747
			------------	------------
Total assets less current liabilities			1,458,733	1,126,768

Provisions

Taxation including deferred tax	10,600	–
	------------	------------
Net assets	1,448,133	1,126,768
	------------	------------

Capital and reserves

Called up share capital	525,000	525,000
Fairvalue reserve	368,379	–
Profit and loss account	554,754	601,768
	------------	------------
Shareholders funds	1,448,133	1,126,768
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

MASHOL LIMITED

Statement of Financial Position (continued)

31 March 2017

These financial statements were approved by the board of directors and authorised for issue on 14 June 2018 , and are signed on behalf of the board by:

E Tajtelbaum

Director

Company registration number: 0781750

MASHOL LIMITED

Statement of Changes in Equity

Year ended 31 March 2017

			Called up share capital	Fairvalue reserve	Profit and loss account	Total
Note			£	£	£	£
At 1 April 2015			525,000	–	404,106	929,106

Profit for the year					197,662	197,662
			---------	----	---------	---------
Total comprehensive income for the year			–	–	197,662	197,662

At 31 March 2016			525,000	–	601,768	1,126,768

Loss for the year					( 47,014)	( 47,014)
Other comprehensive income for the year:
	Revaluation of tangible assets	5	–	368,379	–	368,379
			---------	---------	---------	------------
Total comprehensive income for the year			–	368,379	( 47,014)	321,365

			---------	---------	---------	------------
At 31 March 2017			525,000	368,379	554,754	1,448,133
			---------	---------	---------	------------

MASHOL LIMITED

Notes to the Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1, Hallswelle Road, London, NW11 ODH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2016: 3 ).

5. Tangible assets

	Land and buildings
	£
Cost or valuation
At 1 April 2016	321,021
Revaluations	378,979
	---------
At 31 March 2017	700,000
	---------
Depreciation
At 1 April 2016 and 31 March 2017	–
	---------
Carrying amount
At 31 March 2017	700,000
	---------
At 31 March 2016	321,021
	---------

6. Debtors

	2017	2016
	£	£
Other debtors	920,500	1,157,046
	---------	------------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Corporation tax	–	716
Amounts owed to related undertakings	289,000	289,000
Other creditors	61,485	75,246
	---------	---------
	350,485	364,962
	---------	---------

8. Related party transactions

The company was not under the control of any single party throughout the current and previous years.

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.