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
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
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
Mast Technologies Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
10,995
7,788
Cash at bank and in hand
652,869
1,139,479
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
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
Mast Technologies Ltd
Notes to the Accounts
for the year ended 30 June 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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
At 30 June 2023
249
15,353
15,602
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
At 30 June 2023
244
10,751
10,995
At 30 June 2022
-
7,788
7,788
Mast Technologies Ltd
Notes to the Accounts
for the year ended 30 June 2023
Amounts falling due within one year
Accrued income and prepayments
5,425
-
Other debtors
156,899
49,730
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
10,348
252
7
Average number of employees
During the year the average number of employees was 6 (2022: 4).