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REGISTERED NUMBER: 08303103 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Masons Of Yorkshire Ltd

Masons Of Yorkshire Ltd (Registered number: 08303103)






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


Masons Of Yorkshire Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: K Mason
Mrs C Mason





SECRETARY: K Mason





REGISTERED OFFICE: Masons Distillery
Trinity Place
Leeming Bar Business Park
Leeming Bar
North Yorkshire
DL7 9EE





REGISTERED NUMBER: 08303103 (England and Wales)





ACCOUNTANTS: King Hope
Chartered Accountants
34 Romanby Road
NORTHALLERTON
North Yorkshire
DL7 8NF

Masons Of Yorkshire Ltd (Registered number: 08303103)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 6,129 13,559
Tangible assets 5 602,520 754,182
Investments 6 1,000 1,000
609,649 768,741

CURRENT ASSETS
Stocks 7 326,474 712,491
Debtors 8 579,067 463,478
Cash at bank and in hand 345,698 590,889
1,251,239 1,766,858
CREDITORS
Amounts falling due within one year 9 (481,278 ) (718,782 )
NET CURRENT ASSETS 769,961 1,048,076
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,379,610

1,816,817

CREDITORS
Amounts falling due after more than one
year

10

(22,043

)

(29,390

)

PROVISIONS FOR LIABILITIES - (38,849 )
NET ASSETS 1,357,567 1,748,578

CAPITAL AND RESERVES
Called up share capital 125 125
Share premium 299,975 299,975
Retained earnings 1,057,467 1,448,478
SHAREHOLDERS' FUNDS 1,357,567 1,748,578

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 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.

Masons Of Yorkshire Ltd (Registered number: 08303103)

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 Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





K Mason - Director


Masons Of Yorkshire Ltd (Registered number: 08303103)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Masons Of Yorkshire 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 value added tax.

The company recognises revenue when it transfers control of a product to a customer, generally being when the goods have shipped to the customer.

Revenue is reduced for rebates and other similar allowances.

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 loesses.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Brand, Design & Artwork intangibles are being amortised evenly over their estimated useful life of two, three and five years depending on the asset.

Website Development 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.
Leasehold improvements - 10% on cost
Plant and machinery - 25% on reducing balance
Office & Sales Equipment - 33% on cost and 25% on reducing balance
Computer equipment - 33% on cost

Government grants
Government grants relates to:

-grants towards expenditure on fixed assets, treated as deferred income and credited to the profit and loss account over the useful economic life of the asset; and
-a grant received from Northern Powerhouse from an EU Regional Development fund relating to travel/accommodation for a trade mission. The grant has been recognised in the profit and loss account in the period in which the associated expenditure was incurred.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a weighted average basis. Production overheads are allocated to the cost of stock on the basis of the normal level of activity.

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.


Masons Of Yorkshire Ltd (Registered number: 08303103)

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

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 contributes to the personal pension polices of certain employees and operates a defined contribution pension scheme. Contributions payable for the year are charged to the Income Statement.

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the Directors have carefully considered these risks, including an assessment of uncertainty of future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the Directors consider that the company maintains an appropriate level of liquidity, sufficient to meet the demands of the business. In addition, the company assets are assessed for recoverability on a regular basis, and the Directors consider that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the company's ability to continue as a going concern. This the Directors have continued to adopt the going concern basis of accounting in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2022 - 34 ) .

Masons Of Yorkshire Ltd (Registered number: 08303103)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 32,224
Additions 375
At 31 December 2023 32,599
AMORTISATION
At 1 January 2023 18,665
Charge for year 7,805
At 31 December 2023 26,470
NET BOOK VALUE
At 31 December 2023 6,129
At 31 December 2022 13,559

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 379,419 988,713 1,368,132
Additions - 8,056 8,056
Disposals - (990 ) (990 )
At 31 December 2023 379,419 995,779 1,375,198
DEPRECIATION
At 1 January 2023 100,109 513,841 613,950
Charge for year 37,943 120,955 158,898
Eliminated on disposal - (170 ) (170 )
At 31 December 2023 138,052 634,626 772,678
NET BOOK VALUE
At 31 December 2023 241,367 361,153 602,520
At 31 December 2022 279,310 474,872 754,182

6. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 January 2023
and 31 December 2023 1,000
NET BOOK VALUE
At 31 December 2023 1,000
At 31 December 2022 1,000

Masons Of Yorkshire Ltd (Registered number: 08303103)

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

7. STOCKS

Change in accounting estimate

In earlier periods, the estimated value of stock has included a provision for unpaid duty on bottled stock held at the year end. As the stock is held in an excise warehouse the duty point is in fact suspended until the product leaves the warehouse and therefore finished product stocks should be valued excluding duty. The accounting estimate for the valuation of stock has been amended to exclude unpaid duty, and any duty which may have been paid in advance.

The change in accounting estimate has no impact on the reportable loss / profit arising from the current or future periods.

8. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 433,089 355,937
Tax 31,029 37,251
Prepayments 84,886 70,290
549,004 463,478

Amounts falling due after more than one year:
Deferred tax asset 30,063 -

Aggregate amounts 579,067 463,478

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 11) 26,956 57,336
Trade creditors 202,676 411,354
Taxation and social security 170,039 151,862
Other creditors 81,607 98,230
481,278 718,782

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 22,043 29,390

11. LOANS

The bank borrowings are secured by a fixed and floating charge covering all properties and undertaking of the company. Security has also been provided by a personal guarantee executed by the Director, Mr K W Mason, limited to £50,000.

The bank overdraft relates to an invoice discounting facility the agreement terms of which allow for drawdown on 85% of approved UK debts to a limit of £800,000.

12. OTHER FINANCIAL COMMITMENTS

The company contributes to the personal pension policy of certain employees and operated a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds. At the balance sheet date unpaid contributions of £1,523 (2022 - £3,407) were due to the funds. These are included in other creditors.

At the reporting date, the Company had outstanding commitments for future minimum lease payments under non-cancellable operating lease arrangements in respect of motor vehicles and equipment totalling £11,513 (2022 - £22,271) and leasehold property totalling £441,680 (2022 - £517,226).

Masons Of Yorkshire Ltd (Registered number: 08303103)

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

13. RELATED PARTY DISCLOSURES

A Director has been provided a personal guarantee over the borrowings of the company limited to £50,000.