8 false false false false false false false false false true false false false false false false No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,654,304 1,101,379 75,397 1,176,776 477,528 552,925 100 100 100 xbrli:pure xbrli:shares iso4217:GBP 10891371 2021-04-01 2022-03-31 10891371 2022-03-31 10891371 2021-03-31 10891371 2020-04-01 2021-03-31 10891371 2021-03-31 10891371 core:MotorVehicles 2021-04-01 2022-03-31 10891371 bus:Director1 2021-04-01 2022-03-31 10891371 core:MotorVehicles 2021-03-31 10891371 core:MotorVehicles 2022-03-31 10891371 core:WithinOneYear 2022-03-31 10891371 core:WithinOneYear 2021-03-31 10891371 core:ShareCapital 2022-03-31 10891371 core:ShareCapital 2021-03-31 10891371 core:RetainedEarningsAccumulatedLosses 2022-03-31 10891371 core:RetainedEarningsAccumulatedLosses 2021-03-31 10891371 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 10891371 core:Non-currentFinancialInstruments 2022-03-31 10891371 core:Non-currentFinancialInstruments 2021-03-31 10891371 core:MotorVehicles 2021-03-31 10891371 bus:SmallEntities 2021-04-01 2022-03-31 10891371 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 10891371 bus:FullAccounts 2021-04-01 2022-03-31 10891371 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 10891371 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31
COMPANY REGISTRATION NUMBER: 10891371
Mass Holdings and Investments Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2022
Mass Holdings and Investments Limited
Statement of Financial Position
31 March 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
5
477,528
552,925
Investments
6
100
100
---------
---------
477,628
553,025
Current assets
Debtors
7
347,058
131,201
Cash at bank and in hand
262,997
310,123
---------
---------
610,055
441,324
Creditors: amounts falling due within one year
8
176,298
84,280
---------
---------
Net current assets
433,757
357,044
---------
---------
Total assets less current liabilities
911,385
910,069
Provisions
13,994
7,163
---------
---------
Net assets
897,391
902,906
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
897,291
902,806
---------
---------
Shareholders funds
897,391
902,906
---------
---------
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 Section 1A of 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 income and retained earnings has not been delivered.
For the year ending 31 March 2022 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 .
Mass Holdings and Investments Limited
Statement of Financial Position (continued)
31 March 2022
These financial statements were approved by the board of directors and authorised for issue on 8 August 2022 , and are signed on behalf of the board by:
A J Chandler
Director
Company registration number: 10891371
Mass Holdings and Investments Limited
Notes to the Financial Statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 9 Trafalgar Way, Camberley, Surrey, GU15 3BN.
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.
Going concern
During the year, the UK has experienced a pandemic of the coronavirus which has continued post year-end. This is being regularly reviewed by the directors. Accordingly the financial statements have been prepared on a going concern basis.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
12% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
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.
Financial instruments
The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2021: 8 ).
5. Tangible assets
Motor vehicles
£
Cost
At 1 April 2021 and 31 March 2022
1,654,304
------------
Depreciation
At 1 April 2021
1,101,379
Charge for the year
75,397
------------
At 31 March 2022
1,176,776
------------
Carrying amount
At 31 March 2022
477,528
------------
At 31 March 2021
552,925
------------
6. Investments
Shares in group undertakings
£
Cost
At 1 April 2021 and 31 March 2022
100
----
Impairment
At 1 April 2021 and 31 March 2022
----
Carrying amount
At 31 March 2022
100
----
At 31 March 2021
100
----
The company owns 100% of the issued share capital of Shred-On-Site Limited, a company registered in England.
7. Debtors
2022
2021
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
246,899
68,999
Other debtors
100,159
62,202
---------
---------
347,058
131,201
---------
---------
8. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
96
855
Social security and other taxes
107,771
65,156
Other creditors
68,431
18,269
---------
--------
176,298
84,280
---------
--------
9. Directors' advances, credits and guarantees
During the year the directors maintained loan accounts with the company details below: Director A £5,728 (2021 the company owed the director £8,042) Director B £570 (2021 the company owed the director £3,860) Director C £15,442 (2021 £75) Director D £3,193 (2021 the company owed the director £2,211) _________ Total £24,933 No balances were written off and interest charged at 2% to individual balance more than £10,000.
10. Related party transactions
In the prior period, fixed assets with net book value of £628,322 were transferred to the company at book value from its trading subsidiary, Shred-On-Site Limited.