Company registration number 12572719 (England and Wales)
MAS Ventures Ltd
UNAUDITED FINANCIAL STATEMENTS
for the year ended 30 April 2024
PAGES FOR FILING WITH REGISTRAR
MAS Ventures Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
MAS Ventures Ltd
Statement of financial position
as at 30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
1,772,178
1,866,065
Current assets
Debtors
5
40,000
-
0
Cash at bank and in hand
2,110
72,848
42,110
72,848
Creditors: amounts falling due within one year
6
(700,287)
(848,119)
Net current liabilities
(658,177)
(775,271)
Total assets less current liabilities
1,114,001
1,090,794
Creditors: amounts falling due after more than one year
7
(853,160)
(853,160)
Provisions for liabilities
8
(46,844)
(46,844)
Net assets
213,997
190,790
Capital and reserves
Called up share capital
1
1
Revaluation reserve
9
246,547
246,547
Profit and loss reserves
(32,551)
(55,758)
Total equity
213,997
190,790
MAS Ventures Ltd
Statement of financial position (continued)
as at 30 April 2024
- 2 -

For the financial year ended 30 April 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 of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 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.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 26 September 2024
S Martinovic
Director
Company registration number 12572719 (England and Wales)
MAS Ventures Ltd
Notes to the financial statements
for the year ended 30 April 2024
- 3 -
1
Accounting policies
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

 

Turnover is recognised upon the receipt of rental income.

Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
3,087
-
0
MAS Ventures Ltd
Notes to the financial statements (continued)
for the year ended 30 April 2024
- 4 -
4
Investment property
2024
£
Fair value
At 1 May 2023
1,866,064
Additions
81,402
Disposals
(175,288)
At 30 April 2024
1,772,178

 

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts due by connected company
40,000
-
0
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
3,087
-
0
Other creditors
696,200
847,119
Accruals and deferred income
1,000
1,000
700,287
848,119
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
853,160
853,160

The long term bank loans are secured against the assets to which they relate.

8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
46,844
46,844
MAS Ventures Ltd
Notes to the financial statements (continued)
for the year ended 30 April 2024
- 5 -
9
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
246,547
246,547
10
Company information

MAS Ventures Ltd is a private company limited by shares incorporated in England and Wales. The registered office is West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.

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