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REGISTERED NUMBER: 08689998 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

MASON BUILDERS (SUFFOLK) LTD

MASON BUILDERS (SUFFOLK) LTD (REGISTERED NUMBER: 08689998)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MASON BUILDERS (SUFFOLK) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr P A Mason





REGISTERED OFFICE: Suite 4
East Barton Barns
East Barton Road
Great Barton
Bury St Edmunds
IP31 2QY





REGISTERED NUMBER: 08689998 (England and Wales)





ACCOUNTANTS: Twinn Accountants Limited
Suite 4, East Barton Barns
East Barton Road
Great Barton
Bury St. Edmunds
Suffolk
IP31 2QY

MASON BUILDERS (SUFFOLK) LTD (REGISTERED NUMBER: 08689998)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,408 17,572

CURRENT ASSETS
Stocks 5 172 219
Debtors 6 40,454 38,852
Cash at bank 6,412 13,314
47,038 52,385
CREDITORS
Amounts falling due within one year 7 46,840 39,329
NET CURRENT ASSETS 198 13,056
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,606

30,628

CREDITORS
Amounts falling due after more than one
year

8

(5,827

)

(20,296

)

PROVISIONS FOR LIABILITIES (2,880 ) (3,339 )
NET ASSETS 5,899 6,993

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 5,898 6,992
SHAREHOLDERS' FUNDS 5,899 6,993

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MASON BUILDERS (SUFFOLK) LTD (REGISTERED NUMBER: 08689998)

BALANCE SHEET - continued
31 MAY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 October 2023 and were signed by:





Mr P A Mason - Director


MASON BUILDERS (SUFFOLK) LTD (REGISTERED NUMBER: 08689998)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Mason Builders (Suffolk) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Tools & equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

MASON BUILDERS (SUFFOLK) LTD (REGISTERED NUMBER: 08689998)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the asset's fair value at the date of inception and the present value of minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of the capital and interest elements. The interest is charged to the profit and loss so as to produce a constant periodic rate of interest of the remaining balance of the liability.

Rentals payable under the operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Tools & Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 19,199 12,000 1,154 32,353
Additions 175 - - 175
At 31 May 2023 19,374 12,000 1,154 32,528
DEPRECIATION
At 1 June 2022 8,995 5,250 536 14,781
Charge for year 1,559 1,688 92 3,339
At 31 May 2023 10,554 6,938 628 18,120
NET BOOK VALUE
At 31 May 2023 8,820 5,062 526 14,408
At 31 May 2022 10,204 6,750 618 17,572

MASON BUILDERS (SUFFOLK) LTD (REGISTERED NUMBER: 08689998)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2022
and 31 May 2023 12,000
DEPRECIATION
At 1 June 2022 5,250
Charge for year 1,688
At 31 May 2023 6,938
NET BOOK VALUE
At 31 May 2023 5,062
At 31 May 2022 6,750

5. STOCKS
2023 2022
£    £   
Stocks 172 219

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,286 4,389
Other debtors 7,851 10,306
Director's current account 24,158 24,157
Prepayments 159 -
40,454 38,852

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,655 4,085
Hire purchase contracts 2,484 2,324
Trade creditors 3,564 2,792
Corporation tax 23,457 13,249
Social security and other taxes 4,067 15,254
Accrued expenses 2,613 1,625
46,840 39,329

MASON BUILDERS (SUFFOLK) LTD (REGISTERED NUMBER: 08689998)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans due in 1-2 years 2,012 4,073
Bank loans due in 2-5 years - 9,923
Hire purchase contracts 3,815 6,300
5,827 20,296

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 12,667 18,081

The bank loan is a Bounce Back Loan which is secured by the UK Government.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mr P A Mason
Balance outstanding at start of year 24,157 24,158
Amounts advanced 70,233 44,241
Amounts repaid (70,232 ) (44,242 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,158 24,157

11. RELATED PARTY DISCLOSURES

Interest has been charged on the overdrawn director's loan account at the official rate of 2% (2022: 2%).