Mashie Limited
Unaudited Financial Statements
For the year ended 31 March 2023
Pages for Filing with Registrar
Company Registration No. 04534274 (England and Wales)
Mashie Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Mashie Limited
Balance Sheet
As at 31 March 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
949
-
0
Current assets
Debtors
4
25,196
24,072
Cash at bank and in hand
55,630
60,287
80,826
84,359
Creditors: amounts falling due within one year
5
(33,992)
(6,068)
Net current assets
46,834
78,291
Net assets
47,783
78,291
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
47,683
78,191
Total equity
47,783
78,291

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 2 October 2023
P Thwaites
Director
Company Registration No. 04534274
Mashie Limited
Notes to the Financial Statements
For the year ended 31 March 2023
Page 2
1
Accounting policies
Company information

Mashie Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, W1T 1QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The Company made a trueloss for the year after taxation of £30,508 (2022: £24,167) and had net assets at the 31 March 2023 of  £47,783 (2022: £78,291). These financial statements are prepared on the going concern basis. The director believes that the company will have sufficient funds to settle all of its liabilities as they fall due for at least 12 months from signing the accounts.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
to be confirmed

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Mashie Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
1
Accounting policies
(Continued)
Page 3
1.6
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was :

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
£
Cost
At 1 April 2022
-
0
Additions
949
At 31 March 2023
949
Depreciation and impairment
At 1 April 2022 and 31 March 2023
-
0
Carrying amount
At 31 March 2023
949
At 31 March 2022
-
0
Mashie Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2023
Page 4
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
23,000
23,000
Other debtors
2,196
1,072
25,196
24,072
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,000
-
0
Taxation and social security
5,788
3,668
Other creditors
25,204
2,400
33,992
6,068
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Control

The ultimate controlling party is P Thwaites by virtue of his 65% shareholding.

8
Related party transactions

As at the balance sheet date, included within other creditors is an amount of £25,204 (2022: £2,400) was owed to the director, P Thwaites.

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