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REGISTERED NUMBER: 02217933 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 June 2023

for

MASON OWEN FINANCIAL SERVICES LIMITED

MASON OWEN FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02217933)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MASON OWEN FINANCIAL SERVICES LIMITED

Company Information
FOR THE YEAR ENDED 30 JUNE 2023







Directors: Mr A Gibbons
Mr K Burn
Mr M I Longfellow





Registered office: 7th Floor Unity Building
20 Chapel Street
Liverpool
L3 9AG





Registered number: 02217933 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

MASON OWEN FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02217933)

Balance Sheet
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,009
Tangible assets 5 2,760 4,709
Investments 6 1,071,218 1,071,218
1,073,978 1,076,936

CURRENT ASSETS
Debtors 7 2,964,224 2,757,591
Cash at bank and in hand 1,342,631 1,562,743
4,306,855 4,320,334
CREDITORS
Amounts falling due within one year 8 3,048,330 3,593,689
NET CURRENT ASSETS 1,258,525 726,645
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,332,503

1,803,581

PROVISIONS FOR LIABILITIES 9 518 887
NET ASSETS 2,331,985 1,802,694

CAPITAL AND RESERVES
Called up share capital 10 1,025 1,025
Other reserves 85,686 85,686
Retained earnings 2,245,274 1,715,983
SHAREHOLDERS' FUNDS 2,331,985 1,802,694

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

MASON OWEN FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02217933)

Balance Sheet - continued
30 JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2023 and were signed on its behalf by:





Mr A Gibbons - Director


MASON OWEN FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02217933)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Mason Owen Financial Services Limited 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 recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and does not include VAT as the firm is not registered for VAT and is net of other sales related taxes.

Turnover comprises revenue recognised by the company in relation to commission or fee in lieu of commission relating to insurance premiums finalised with insurers and confirmed by the client within the accounting period and is recognised at the point the policy is agreed with the client. Commission on returns, additional premiums and adjustment are brought into the accounts when these occur. Profit shares from insurance companies are recognised on a received basis.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% straight line
Computer equipment - 25% straight line

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

MASON OWEN FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02217933)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 July 2022
and 30 June 2023 7,350
AMORTISATION
At 1 July 2022 6,341
Amortisation for year 1,009
At 30 June 2023 7,350
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 1,009

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022 1,109 19,004 20,113
Additions 198 2,885 3,083
At 30 June 2023 1,307 21,889 23,196
DEPRECIATION
At 1 July 2022 521 14,883 15,404
Charge for year 306 4,726 5,032
At 30 June 2023 827 19,609 20,436
NET BOOK VALUE
At 30 June 2023 480 2,280 2,760
At 30 June 2022 588 4,121 4,709

MASON OWEN FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 02217933)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2022
and 30 June 2023 1,071,218
NET BOOK VALUE
At 30 June 2023 1,071,218
At 30 June 2022 1,071,218

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 2,238,744 2,587,823
Amounts owed by group undertakings 645,331 92,799
Other debtors 80,149 76,969
2,964,224 2,757,591

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 2,577,186 3,014,961
Amounts owed to group undertakings - 160,101
Taxation and social security 147,418 102,654
Other creditors 323,726 315,973
3,048,330 3,593,689

9. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 518 887

Deferred
tax
£   
Balance at 1 July 2022 887
Provided during year (369 )
Balance at 30 June 2023 518

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
102,475 Ordinary 1p 1,025 1,025