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REGISTERED NUMBER: 05949212 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 December 2023

for

Masterselection Too Limited

Masterselection Too Limited (Registered number: 05949212)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Masterselection Too Limited

Company Information
For The Year Ended 31 December 2023







DIRECTOR: S Cook





REGISTERED OFFICE: Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN





REGISTERED NUMBER: 05949212 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Masterselection Too Limited (Registered number: 05949212)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 135,635 160,265

CURRENT ASSETS
Stocks 20,593 20,239
Debtors 5 485,817 413,172
Cash at bank and in hand 189,867 353,559
696,277 786,970
CREDITORS
Amounts falling due within one year 6 131,877 230,550
NET CURRENT ASSETS 564,400 556,420
TOTAL ASSETS LESS CURRENT
LIABILITIES

700,035

716,685

CREDITORS
Amounts falling due after more than one
year

7

(550,000

)

(550,000

)

PROVISIONS FOR LIABILITIES - (27,032 )
NET ASSETS 150,035 139,653

CAPITAL AND RESERVES
Called up share capital 1,250 1,250
Share premium 99,750 99,750
Retained earnings 49,035 38,653
150,035 139,653

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

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

Masterselection Too Limited (Registered number: 05949212)

Balance Sheet - continued
31 December 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 10 September 2024 and were signed by:





S Cook - Director


Masterselection Too Limited (Registered number: 05949212)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Masterselection Too 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.

The director considers that in preparing the financial statements they have taken into account all information available, and on this basis, the financial statements are prepared on a going concern basis.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

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 - 15% on reducing balance
Motor vehicles - 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets and liabilities
Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Basic financial liabilities, including trade and other creditors are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year.

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.


Masterselection Too Limited (Registered number: 05949212)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

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 27 (2022 - 30 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 20,000 430,787 25,999 476,786
Additions - 1,896 - 1,896
At 31 December 2023 20,000 432,683 25,999 478,682
DEPRECIATION
At 1 January 2023 2,010 310,700 3,811 316,521
Charge for year 2,699 18,280 5,547 26,526
At 31 December 2023 4,709 328,980 9,358 343,047
NET BOOK VALUE
At 31 December 2023 15,291 103,703 16,641 135,635
At 31 December 2022 17,990 120,087 22,188 160,265

Masterselection Too Limited (Registered number: 05949212)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 485,817 413,172

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 83,573 87,181
Taxation and social security 43,722 72,265
Other creditors 4,582 71,104
131,877 230,550

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 550,000 550,000

8. RELATED PARTY DISCLOSURES

Included within other debtors is an amount due from MS2 Holdings Limited, the company's parent undertaking, in the sum of £241,200 (2022: £240,000). The account is unsecured, interest free and carries no fixed date of repayment.

Included within other debtors is an amount due from S Cook in the sum of £153,646 (2022: £103,643). The account is unsecured, interest free and carries no fixed date of repayment.

9. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of MS2 Holdings Ltd, a company incorporated in England & Wales. The ultimate controlling party is S Cook.