IRIS Accounts Production v24.2.0.383 04180100 director 1.4.23 31.3.24 31.3.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh041801002023-03-31041801002024-03-31041801002023-04-012024-03-31041801002022-03-31041801002022-04-012023-03-31041801002023-03-3104180100ns15:EnglandWales2023-04-012024-03-3104180100ns14:PoundSterling2023-04-012024-03-3104180100ns10:Director12023-04-012024-03-3104180100ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3104180100ns10:SmallEntities2023-04-012024-03-3104180100ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3104180100ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3104180100ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3104180100ns10:FullAccounts2023-04-012024-03-310418010012023-04-012024-03-3104180100ns10:OrdinaryShareClass12023-04-012024-03-3104180100ns10:RegisteredOffice2023-04-012024-03-3104180100ns5:CurrentFinancialInstruments2024-03-3104180100ns5:CurrentFinancialInstruments2023-03-3104180100ns5:Non-currentFinancialInstruments2024-03-3104180100ns5:Non-currentFinancialInstruments2023-03-3104180100ns5:ShareCapital2024-03-3104180100ns5:ShareCapital2023-03-3104180100ns5:RetainedEarningsAccumulatedLosses2024-03-3104180100ns5:RetainedEarningsAccumulatedLosses2023-03-3104180100ns5:NetGoodwill2023-04-012024-03-3104180100ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3104180100ns5:FurnitureFittings2023-04-012024-03-3104180100ns5:MotorVehicles2023-04-012024-03-3104180100ns5:ComputerEquipment2023-04-012024-03-3104180100ns5:NetGoodwill2023-03-3104180100ns5:NetGoodwill2024-03-3104180100ns5:NetGoodwill2023-03-3104180100ns5:FurnitureFittings2023-03-3104180100ns5:MotorVehicles2023-03-3104180100ns5:ComputerEquipment2023-03-3104180100ns5:FurnitureFittings2024-03-3104180100ns5:MotorVehicles2024-03-3104180100ns5:ComputerEquipment2024-03-3104180100ns5:FurnitureFittings2023-03-3104180100ns5:MotorVehicles2023-03-3104180100ns5:ComputerEquipment2023-03-3104180100ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3104180100ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3104180100ns5:WithinOneYear2024-03-3104180100ns5:WithinOneYear2023-03-3104180100ns5:BetweenOneFiveYears2024-03-3104180100ns5:BetweenOneFiveYears2023-03-3104180100ns5:AllPeriods2024-03-3104180100ns5:AllPeriods2023-03-3104180100ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 04180100 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MASLEN ESTATE AGENTS LIMITED

MASLEN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04180100)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MASLEN ESTATE AGENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: P B Wilkinson





REGISTERED OFFICE: 39 Lewes Road
Brighton
East Sussex
BN2 3HQ





REGISTERED NUMBER: 04180100 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY

MASLEN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04180100)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,255 9,599
3,255 9,599

CURRENT ASSETS
Debtors 6 19,393 11,783
Cash at bank 23,989 5,020
43,382 16,803
CREDITORS
Amounts falling due within one year 7 36,044 338,510
NET CURRENT ASSETS/(LIABILITIES) 7,338 (321,707 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,593

(312,108

)

CREDITORS
Amounts falling due after more than one
year

8

158,054

35,444
NET LIABILITIES (147,461 ) (347,552 )

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings (147,463 ) (347,554 )
SHAREHOLDERS' FUNDS (147,461 ) (347,552 )

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

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

MASLEN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04180100)

BALANCE SHEET - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





P B Wilkinson - Director


MASLEN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04180100)

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


1. STATUTORY INFORMATION

Maslen Estate Agents 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue is measured at the fair value of the consideration received or receivable. Revenue represents net invoiced commissions, excluding value added tax. Revenue is recognised when commissions are invoiced.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, was amortised evenly over its estimated useful life of ten years.

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 losses.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

MASLEN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04180100)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,285
AMORTISATION
At 1 April 2023
and 31 March 2024 100,285
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

MASLEN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04180100)

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


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 89,670 25,499 95,306 210,475
Disposals (31,675 ) (25,499 ) (17,033 ) (74,207 )
At 31 March 2024 57,995 - 78,273 136,268
DEPRECIATION
At 1 April 2023 88,328 22,946 89,602 200,876
Charge for year 191 567 1,788 2,546
Eliminated on disposal (31,098 ) (23,513 ) (15,798 ) (70,409 )
At 31 March 2024 57,421 - 75,592 133,013
NET BOOK VALUE
At 31 March 2024 574 - 2,681 3,255
At 31 March 2023 1,342 2,553 5,704 9,599

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,968 3,067
Other debtors 4,425 8,716
19,393 11,783

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,385 43,207
Amounts owed to connected companies - 5,000
Taxation and social security 11,125 14,216
Other creditors 19,534 276,087
36,044 338,510

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 30,054 35,444
Other creditors 128,000 -
158,054 35,444

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,017 7,123

MASLEN ESTATE AGENTS LIMITED (REGISTERED NUMBER: 04180100)

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


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 3,843 10,259
Between one and five years 3,469 3,383
7,312 13,642

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2