1 January 2023 v2024.42.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP122742102023-01-012023-12-31122742102023-12-31122742102022-12-3112274210core:WithinOneYear2023-12-3112274210core:WithinOneYear2022-12-3112274210core:ShareCapital2023-12-3112274210core:ShareCapital2022-12-3112274210core:RetainedEarningsAccumulatedLosses2023-12-3112274210core:RetainedEarningsAccumulatedLosses2022-12-3112274210bus:Director12023-01-012023-12-3112274210bus:RegisteredOffice2023-01-012023-12-3112274210core:OtherResidualIntangibleAssets2023-01-012023-12-3112274210core:FurnitureFittingsToolsEquipment2023-01-012023-12-31122742102022-01-012022-12-3112274210core:IntangibleAssetsOtherThanGoodwill2023-01-0112274210core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112274210core:PlantMachinery2023-01-0112274210core:PlantMachinery2023-01-012023-12-3112274210core:PlantMachinery2023-12-3112274210core:PlantMachinery2022-12-3112274210core:CostValuation2023-01-0112274210core:AdditionsToInvestments2023-12-3112274210core:CostValuation2023-12-311227421012023-01-012023-12-3112274210countries:EnglandWales2023-01-012023-12-3112274210bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3112274210bus:PrivateLimitedCompanyLtd2023-01-012023-12-3112274210bus:SmallEntities2023-01-012023-12-3112274210bus:FullAccounts2023-01-012023-12-31
Company registration number:
12274210
Mason Rak Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2023
Mason Rak Limited
Statement of Financial Position
31 December 2023
20232022
Note££
Fixed assets    
Tangible assets 6
3,934
 
3,311
 
Investments 7
451,000
 
64,245
 
454,934
 
67,556
 
Current assets    
Debtors 8
2,216
 
6,206
 
Cash at bank and in hand
5,380
 
375,813
 
7,596
 
382,019
 
Creditors: amounts falling due within one year 9
(32,493
)
(69,348
)
Net current (liabilities)/assets
(24,897
)
312,671
 
Total assets less current liabilities 430,037   380,227  
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
429,937
 
380,127
 
Shareholders funds
430,037
 
380,227
 
For the year ending
31 December 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
12 September 2024
, and are signed on behalf of the board by:
Mr O Rak
Director
Company registration number:
12274210
Mason Rak Limited
Notes to the Financial Statements
Year ended
31 December 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
20 Old Bailey Old Bailey
,
London
,
EC4M 7AN
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Other intangible assets
33% straight line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
25% Reducing Balance

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2022:
2.00
).

5 Intangible assets

Other intangible assets
£
Cost  
At
1 January 2023
3,500
 
Disposals
(3,500
)
At
31 December 2023
-  
Amortisation  
At
1 January 2023
3,500
 
Disposals
(3,500
)
At
31 December 2023
-  
Carrying amount  
At
31 December 2023
-  
At 31 December 2022 -  

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2023
5,510
 
Additions
1,882
 
At
31 December 2023
7,392
 
Depreciation  
At
1 January 2023
2,199
 
Charge
1,259
 
At
31 December 2023
3,458
 
Carrying amount  
At
31 December 2023
3,934
 
At 31 December 2022
3,311
 

7 Investments

Other investments
£
Cost  
At
1 January 2023
64,245
 
Additions
386,755
 
At
31 December 2023
451,000
 
Impairment  
At
1 January 2023
and
31 December 2023
-  
Carrying amount  
At
31 December 2023
451,000
 
At 31 December 2022
64,245
 

8 Debtors

20232022
££
Other debtors
2,216
 
6,206
 

9 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
220
 
301
 
Trade creditors -  
1,337
 
Taxation and social security
25,446
 
67,710
 
Other creditors
6,827
  -  
32,493
 
69,348