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Registered number: 08395139
Hidden Masters Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
3NT Ltd
38 Arden Road
Desborough
Kettering
Northants
NN14 2WJ
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Hidden Masters Ltd for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Hidden Masters Ltd for the year ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to the directors of Hidden Masters Ltd , as a body, in accordance with the terms of our engagement letter dated 07 November 2014. Our work has been undertaken solely to prepare for your approval the accounts of Hidden Masters Ltd and state those matters that we have agreed to state to the directors of Hidden Masters Ltd , as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hidden Masters Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that Hidden Masters Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Hidden Masters Ltd . You consider that Hidden Masters Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Hidden Masters Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
Laurence Denton
17/09/2024
3NT Ltd
38 Arden Road
Desborough
Kettering
Northants
NN14 2WJ
Page 1
Page 2
Balance Sheet
Registered number: 08395139
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,472 -
4,472 -
CURRENT ASSETS
Stocks 5 56,122 32,658
56,122 32,658
Creditors: Amounts Falling Due Within One Year 6 (142,103 ) (122,924 )
NET CURRENT ASSETS (LIABILITIES) (85,981 ) (90,266 )
TOTAL ASSETS LESS CURRENT LIABILITIES (81,509 ) (90,266 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (850 ) -
NET LIABILITIES (82,359 ) (90,266 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (82,459 ) (90,366 )
SHAREHOLDERS' FUNDS (82,359) (90,266)
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R N Storey
Director
Mrs J Gould
Director
17/09/2024
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Hidden Masters Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08395139 . The registered office is 38 Arden Road, Desborough, Kettering, Northants, NN14 2WJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures, fittings and equipment 25% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Fixtures, fittings and equipment
£
Cost
As at 1 April 2023 -
Additions 5,962
As at 31 March 2024 5,962
Depreciation
As at 1 April 2023 -
Provided during the period 1,490
As at 31 March 2024 1,490
Net Book Value
As at 31 March 2024 4,472
As at 1 April 2023 -
Page 4
Page 5
5. Stocks
31 March 2024 31 March 2023
£ £
Stock and Work in Progress 56,122 32,658
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors - 1
Accruals and deferred income 189 163
Directors' loan accounts 141,914 122,760
142,103 122,924
7. Share Capital
31 March 2024 31 March 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
Page 5