8 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,654,304 54,408 1,599,896 1,176,776 74,309 18,498 1,232,587 367,309 477,528 100 100 100 xbrli:pure xbrli:shares iso4217:GBP 10891371 2022-04-01 2023-03-31 10891371 2023-03-31 10891371 2022-03-31 10891371 2021-04-01 2022-03-31 10891371 2022-03-31 10891371 core:MotorVehicles 2022-04-01 2023-03-31 10891371 bus:Director1 2022-04-01 2023-03-31 10891371 core:MotorVehicles 2022-03-31 10891371 core:MotorVehicles 2023-03-31 10891371 core:WithinOneYear 2023-03-31 10891371 core:WithinOneYear 2022-03-31 10891371 core:ShareCapital 2023-03-31 10891371 core:ShareCapital 2022-03-31 10891371 core:RetainedEarningsAccumulatedLosses 2023-03-31 10891371 core:RetainedEarningsAccumulatedLosses 2022-03-31 10891371 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 10891371 core:Non-currentFinancialInstruments 2023-03-31 10891371 core:Non-currentFinancialInstruments 2022-03-31 10891371 core:MotorVehicles 2022-03-31 10891371 bus:SmallEntities 2022-04-01 2023-03-31 10891371 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10891371 bus:FullAccounts 2022-04-01 2023-03-31 10891371 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10891371 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 10891371
Mass Holdings and Investments Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2023
Mass Holdings and Investments Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
367,309
477,528
Investments
6
100
100
---------
---------
367,409
477,628
Current assets
Debtors
7
347,480
347,058
Cash at bank and in hand
76,023
262,997
---------
---------
423,503
610,055
Creditors: amounts falling due within one year
8
71,303
176,298
---------
---------
Net current assets
352,200
433,757
---------
---------
Total assets less current liabilities
719,609
911,385
Provisions
12,631
13,994
---------
---------
Net assets
706,978
897,391
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
706,878
897,291
---------
---------
Shareholders funds
706,978
897,391
---------
---------
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 2023 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 2023
These financial statements were approved by the board of directors and authorised for issue on 6 November 2023 , 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 2023
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.
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.
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.
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 (2022: 8 ).
5. Tangible assets
Motor vehicles
£
Cost
At 1 April 2022
1,654,304
Disposals
( 54,408)
------------
At 31 March 2023
1,599,896
------------
Depreciation
At 1 April 2022
1,176,776
Charge for the year
74,309
Disposals
( 18,498)
------------
At 31 March 2023
1,232,587
------------
Carrying amount
At 31 March 2023
367,309
------------
At 31 March 2022
477,528
------------
6. Investments
Shares in group undertakings
£
Cost
At 1 April 2022 and 31 March 2023
100
----
Impairment
At 1 April 2022 and 31 March 2023
----
Carrying amount
At 31 March 2023
100
----
At 31 March 2022
100
----
The company owns 100% of the issued share capital of Shred-On-Site Limited, a company registered in England.
7. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
294,008
246,899
Other debtors
53,472
100,159
---------
---------
347,480
347,058
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
96
Social security and other taxes
64,968
107,771
Other creditors
6,335
68,431
--------
---------
71,303
176,298
--------
---------
9. Directors' advances, credits and guarantees
The company maintained loan accounts with the directors and these remained in credit throughout the year.