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REGISTERED NUMBER: 07318605 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

MASC PRINT LTD

MASC PRINT LTD (REGISTERED NUMBER: 07318605)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MASC PRINT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr S J Doherty
Mrs M T L Doherty





REGISTERED OFFICE: Church Farm
Main Street
Willey
Rugby
CV23 0SH





REGISTERED NUMBER: 07318605 (England and Wales)





ACCOUNTANTS: AEH Accountancy Ltd
Church Farm
Main Street
Willey
Warwickshire
CV23 0SH

MASC PRINT LTD (REGISTERED NUMBER: 07318605)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,150 10,675
Tangible assets 5 7,726 13,321
16,876 23,996

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 6 7,113 4,064
Cash at bank and in hand 24,398 28,142
32,511 33,206
CREDITORS
Amounts falling due within one year 7 18,186 22,423
NET CURRENT ASSETS 14,325 10,783
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,201

34,779

CREDITORS
Amounts falling due after more than one
year

8

24,323

27,661
NET ASSETS 6,878 7,118

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6,778 7,018
6,878 7,118

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

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

The directors acknowledge their 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.

MASC PRINT LTD (REGISTERED NUMBER: 07318605)

BALANCE SHEET - continued
31 JULY 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 Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





Mrs M T L Doherty - Director


MASC PRINT LTD (REGISTERED NUMBER: 07318605)

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

1. STATUTORY INFORMATION

Masc Print 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 33% on cost
Computer equipment - 33% on cost

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.

MASC PRINT LTD (REGISTERED NUMBER: 07318605)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 30,500
AMORTISATION
At 1 August 2022 19,825
Amortisation for year 1,525
At 31 July 2023 21,350
NET BOOK VALUE
At 31 July 2023 9,150
At 31 July 2022 10,675

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 August 2022
and 31 July 2023 35,763 814 5,515 42,092
DEPRECIATION
At 1 August 2022 24,171 588 4,012 28,771
Charge for year 4,233 226 1,136 5,595
At 31 July 2023 28,404 814 5,148 34,366
NET BOOK VALUE
At 31 July 2023 7,359 - 367 7,726
At 31 July 2022 11,592 226 1,503 13,321

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,352 4,064
Prepayments 761 -
7,113 4,064

MASC PRINT LTD (REGISTERED NUMBER: 07318605)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 3,583
Other loans 4,170 5,000
Trade creditors 8,340 7,989
Tax 4,290 2,331
Social security and other taxes - (138 )
VAT 55 2,162
Other creditors 1,304 -
Directors' current accounts 27 446
Accruals and deferred income - 1,050
18,186 22,423

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 4,170 5,000
Other loans - 2-5 years 12,509 15,000
Other loans more 5yrs instal 7,644 7,661
24,323 27,661

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 7,644 7,661

9. RELATED PARTY DISCLOSURES

As at the year ended 31 July 2023, there was a balance due to the directors of £27 (2022 £446). This amount is included within creditors on the balance sheet.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S J & Mrs M T L Doherty.