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REGISTERED NUMBER: 02351880 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Mastercopy Limited

Mastercopy Limited (Registered number: 02351880)






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


Mastercopy Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: S M Preston
A M Plews





SECRETARY: A M Plews





REGISTERED OFFICE: Randol House
Martinet Road
THORNABY
Cleveland
Stockton on Tees
TS17 0BA





REGISTERED NUMBER: 02351880 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Mastercopy Limited (Registered number: 02351880)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 157,780 181,447
Tangible assets 5 88,706 96,225
246,486 277,672

CURRENT ASSETS
Stocks 30,979 113,050
Debtors 6 427,812 367,860
Cash at bank and in hand 4,094,240 3,109,389
4,553,031 3,590,299
CREDITORS
Amounts falling due within one year 7 679,508 597,219
NET CURRENT ASSETS 3,873,523 2,993,080
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,120,009

3,270,752

PROVISIONS FOR LIABILITIES 8 - 3,427
NET ASSETS 4,120,009 3,267,325

CAPITAL AND RESERVES
Called up share capital 9 11 11
Capital redemption reserve 139 139
Retained earnings 4,119,859 3,267,175
SHAREHOLDERS' FUNDS 4,120,009 3,267,325

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 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.

Mastercopy Limited (Registered number: 02351880)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2024 and were signed on its behalf by:





S M Preston - Director


Mastercopy Limited (Registered number: 02351880)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Mastercopy 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition
Income is recognised on the sale of goods upon delivery of goods to the customer. For service contracts, income is recognised evenly across the length of the contract.

Goodwill
Goodwill is measured at cost less accumulated amortisation and impairment.

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, has been fully amortised.

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, has been fully amortised.

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised over 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 33% on cost and 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are included at cost less accumulated depreciation and impairment.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.


Mastercopy Limited (Registered number: 02351880)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 14 (2023 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 373,032
AMORTISATION
At 1 April 2023 191,585
Amortisation for year 23,667
At 31 March 2024 215,252
NET BOOK VALUE
At 31 March 2024 157,780
At 31 March 2023 181,447

Mastercopy Limited (Registered number: 02351880)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 33,608 23,596 14,335 175,146 246,685
Additions - - - 20,948 20,948
Disposals - - - (14,800 ) (14,800 )
At 31 March 2024 33,608 23,596 14,335 181,294 252,833
DEPRECIATION
At 1 April 2023 33,608 20,808 11,453 84,591 150,460
Charge for year - 418 432 24,864 25,714
Eliminated on disposal - - - (12,047 ) (12,047 )
At 31 March 2024 33,608 21,226 11,885 97,408 164,127
NET BOOK VALUE
At 31 March 2024 - 2,370 2,450 83,886 88,706
At 31 March 2023 - 2,788 2,882 90,555 96,225

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 408,475 356,660
Other debtors 6,905 692
Prepayments and accrued income 12,432 10,508
427,812 367,860

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 44,675 54,194
Taxation and social security 434,889 371,779
Other creditors 37,971 24,359
Directors' current accounts 146,013 98,279
Accruals and deferred income 15,960 48,608
679,508 597,219

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax - 3,427

Mastercopy Limited (Registered number: 02351880)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 3,427
Unused amounts reversed during year (3,427 )
Accelerated capital allowances
Balance at 31 March 2024 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number:Class:Nominal20242023
value:££
10Ordinary D£11010
1Ordinary E£111
1111

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions concluded at market rate.

2024 2023
£ £
Amounts due to directors 146,013 98,279
No interest has been charged.