1 July 2022 false No description of principal activity Taxfiler 2023.9.1 12640114business:PrivateLimitedCompanyLtd2022-07-012023-06-30 126401142022-06-30 126401142022-07-012023-06-30 12640114business:AuditExemptWithAccountantsReport2022-07-012023-06-30 12640114business:FilletedAccounts2022-07-012023-06-30 126401142023-06-30 12640114business:Director12022-07-012023-06-30 12640114business:Director22022-07-012023-06-30 12640114business:Director32022-07-012023-06-30 12640114business:RegisteredOffice2022-07-012023-06-30 126401142022-06-30 12640114core:WithinOneYear2023-06-30 12640114core:WithinOneYear2022-06-30 12640114core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 12640114core:ShareCapitalcore:PreviouslyStatedAmount2022-06-30 12640114core:SharePremiumcore:PreviouslyStatedAmount2023-06-30 12640114core:SharePremiumcore:PreviouslyStatedAmount2022-06-30 12640114core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 12640114core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-06-30 12640114core:PreviouslyStatedAmount2023-06-30 12640114core:PreviouslyStatedAmount2022-06-30 12640114business:SmallEntities2022-07-012023-06-30 12640114countries:EnglandWales2022-07-012023-06-30 12640114core:PlantMachinery2022-06-30 12640114core:ComputerEquipment2022-06-30 12640114core:PlantMachinery2022-07-012023-06-30 12640114core:ComputerEquipment2022-07-012023-06-30 12640114core:PlantMachinery2023-06-30 12640114core:ComputerEquipment2023-06-30 126401142021-07-012022-06-30 iso4217:GBP xbrli:pure
Company Registration No. 12640114 (England and Wales)
Mast Technologies Ltd Unaudited accounts for the year ended 30 June 2023
Mast Technologies Ltd Unaudited accounts Contents
Page
- 2 -
Mast Technologies Ltd Company Information for the year ended 30 June 2023
Directors
J. Abi Saab H. Stanley R. Stronach
Company Number
12640114 (England and Wales)
Registered Office
71-75 SHELTON STREET LONDON WC2H 9JQ ENGLAND
Accountants
Accounts and Legal Consultants Ltd Suite 1-3 The Hop Exchange 24 Southwark Street London SE1 1TY
- 3 -
Mast Technologies Ltd Accountants' report
Accountants' report to the board of directors of Mast Technologies Ltd on the preparation of the unaudited statutory accounts for the year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mast Technologies Ltd for the year ended 30 June 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Mast Technologies Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Mast Technologies Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mast Technologies Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Mast Technologies Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Mast Technologies Ltd. You consider that Mast Technologies Ltd 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 accounts of Mast Technologies Ltd. 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 accounts.
Accounts and Legal Consultants Ltd Suite 1-3 The Hop Exchange 24 Southwark Street London SE1 1TY 23 August 2023
- 4 -
Mast Technologies Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,995 
7,788 
Current assets
Debtors
162,324 
55,137 
Cash at bank and in hand
652,869 
1,139,479 
815,193 
1,194,616 
Creditors: amounts falling due within one year
(16,654)
(555)
Net current assets
798,539 
1,194,061 
Net assets
809,534 
1,201,849 
Capital and reserves
Called up share capital
5 
5 
Share premium
1,504,444 
1,504,441 
Profit and loss account
(694,915)
(302,597)
Shareholders' funds
809,534 
1,201,849 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2023 and were signed on its behalf by
J. Abi Saab Director Company Registration No. 12640114
- 5 -
Mast Technologies Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Mast Technologies Ltd is a private company, limited by shares, registered in England and Wales, registration number 12640114. The registered office is 71-75 SHELTON STREET, LONDON, WC2H 9JQ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: 25% - Straight Line
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
- 
9,318 
9,318 
Additions
249 
6,035 
6,284 
At 30 June 2023
249 
15,353 
15,602 
Depreciation
At 1 July 2022
- 
1,530 
1,530 
Charge for the year
5 
3,072 
3,077 
At 30 June 2023
5 
4,602 
4,607 
Net book value
At 30 June 2023
244 
10,751 
10,995 
At 30 June 2022
- 
7,788 
7,788 
- 6 -
Mast Technologies Ltd Notes to the Accounts for the year ended 30 June 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
5,407 
Accrued income and prepayments
5,425 
- 
Other debtors
156,899 
49,730 
162,324 
55,137 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
5,270 
- 
Trade creditors
10,348 
252 
Other creditors
1,029 
255 
Loans from directors
7 
48 
16,654 
555 
7
Average number of employees
During the year the average number of employees was 6 (2022: 4).
- 7 -