REGISTERED NUMBER: |
Mase Capital Limited |
Financial Statements |
for the Year Ended 31 March 2023 |
REGISTERED NUMBER: |
Mase Capital Limited |
Financial Statements |
for the Year Ended 31 March 2023 |
Mase Capital Limited (Registered number: 11054567) |
Contents of the Financial Statements |
for the year ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Mase Capital Limited |
Company Information |
for the year ended 31 March 2023 |
Directors: |
Registered office: |
Registered number: |
Mase Capital Limited (Registered number: 11054567) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
Current assets |
Debtors | 4 |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Creditors |
Amounts falling due after more than one year |
6 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 7 |
Retained earnings | 8 | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
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. |
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 |
Mase Capital Limited (Registered number: 11054567) |
Notes to the Financial Statements |
for the year ended 31 March 2023 |
1. | Statutory information |
Mase Capital Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
These financial statements have been prepared on a going concern basis. |
The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. |
The directors' continue to offer financial support to ensure the company is able to meet its working capital requirements for the foreseeable future. |
Financial instruments |
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments in full. |
Financial assets / liabilities - classified as basic financial instruments |
(i) Cash and cash equivalents |
This includes cash in hand, deposits held with banks. |
(ii) Trade and other receivables |
Trade and other receivables are initially recognised at the transaction price, including any transaction costs. |
Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. |
At the end of each reporting period, the Company assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. |
The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss. |
(iii) Trade and other payables and loans and borrowings |
Trade and other payables and loans and borrowings are initially measured at the transaction price including any transaction costs. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
VAT |
Mase Capital Limited (Registered number: 11054567) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
5. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Directors' current accounts | 43,895 | 16,745 |
6. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 3,504 | 5,409 |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | Reserves |
Retained |
earnings |
£ |
At 1 April 2022 | ( |
) |
Deficit for the year | ( |
) |
At 31 March 2023 | ( |
) |
9. | Related party disclosures |
At the balance sheet date, the company owed the directors £43,895. (2022: £16,745). This loan is interest free and repayable on demand. |
10. | Ultimate controlling party |
The controlling party is T A Width. |