IRIS Accounts Production v24.1.0.578 06798077 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh067980772023-01-31067980772024-01-31067980772023-02-012024-01-31067980772022-01-31067980772022-02-012023-01-31067980772023-01-3106798077ns15:EnglandWales2023-02-012024-01-3106798077ns14:PoundSterling2023-02-012024-01-3106798077ns10:Director12023-02-012024-01-3106798077ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3106798077ns10:SmallEntities2023-02-012024-01-3106798077ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3106798077ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3106798077ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3106798077ns10:FullAccounts2023-02-012024-01-3106798077ns10:Director22023-02-012024-01-3106798077ns10:CompanySecretary12023-02-012024-01-3106798077ns10:RegisteredOffice2023-02-012024-01-3106798077ns5:CurrentFinancialInstruments2024-01-3106798077ns5:CurrentFinancialInstruments2023-01-3106798077ns5:ShareCapital2024-01-3106798077ns5:ShareCapital2023-01-3106798077ns5:RetainedEarningsAccumulatedLosses2024-01-3106798077ns5:RetainedEarningsAccumulatedLosses2023-01-3106798077ns5:PlantMachinery2023-02-012024-01-3106798077ns5:PlantMachinery2023-01-3106798077ns5:PlantMachinery2024-01-3106798077ns5:PlantMachinery2023-01-3106798077ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3106798077ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-31
REGISTERED NUMBER: 06798077 (England and Wales)
















MASTERWOOD GB LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






MASTERWOOD GB LTD (REGISTERED NUMBER: 06798077)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MASTERWOOD GB LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: C Alexander
D Kennard





SECRETARY: M Kennard





REGISTERED OFFICE: Unit 2 Lakeview Stables
Lower St Clere
Kemsing
Kent
TN15 6NL





REGISTERED NUMBER: 06798077 (England and Wales)





ACCOUNTANTS: Lakeview Southern Limited
Chartered Accountants
2 Lakeview Stables
Lower St. Clere
Kemsing
Sevenoaks
Kent
TN15 6NL

MASTERWOOD GB LTD (REGISTERED NUMBER: 06798077)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,214 36,286

CURRENT ASSETS
Stocks 494,037 463,105
Debtors 5 59,553 282,752
Cash at bank 42,102 125,268
595,692 871,125
CREDITORS
Amounts falling due within one year 6 386,036 657,945
NET CURRENT ASSETS 209,656 213,180
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,870

249,466

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 236,868 249,464
SHAREHOLDERS' FUNDS 236,870 249,466

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

MASTERWOOD GB LTD (REGISTERED NUMBER: 06798077)

BALANCE SHEET - continued
31 JANUARY 2024


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 30 July 2024 and were signed on its behalf by:





D Kennard - Director


MASTERWOOD GB LTD (REGISTERED NUMBER: 06798077)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Masterwood GB 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.
Plant and machinery etc - 25% 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.

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.

MASTERWOOD GB LTD (REGISTERED NUMBER: 06798077)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023
and 31 January 2024 115,643
DEPRECIATION
At 1 February 2023 79,357
Charge for year 9,072
At 31 January 2024 88,429
NET BOOK VALUE
At 31 January 2024 27,214
At 31 January 2023 36,286

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 20,834 282,752
Amounts owed by group undertakings 375 -
Other debtors 38,344 -
59,553 282,752

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 210,926 133,979
Amounts owed to group undertakings 105,012 432,180
Taxation and social security - 90,681
Other creditors 70,098 1,105
386,036 657,945

7. RELATED PARTY DISCLOSURES

At the year end the company owed Masterwood GB Services Ltd £105,012 (2023: £432,555, a company under the common control of the directors).

MASTERWOOD GB LTD (REGISTERED NUMBER: 06798077)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. CONTROL

The ultimate controlling parties are the directors who own 100% of the shares in the holding company, Masterwood GB Holdings Limited.