Registered number
06600511
Mark Mason Construction Limited
Unaudited Filleted Accounts
For the Year Ended
31 May 2024
Mark Mason Construction Limited
Registered number: 06600511
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 11,198 14,829
Current assets
Stocks 3,155 -
Debtors 4 3,577 5,716
Cash at bank and in hand 19,449 18,476
26,181 24,192
Creditors: amounts falling due within one year 5 (14,532) (15,565)
Net current assets 11,649 8,627
Total assets less current liabilities 22,847 23,456
Creditors: amounts falling due after more than one year 6 (11,996) (14,088)
Provisions for liabilities (2,127) (2,818)
Net assets 8,724 6,550
Capital and reserves
Called up share capital 100 100
Profit and loss account 8,624 6,450
Shareholders' funds 8,724 6,550
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M W Mason
Director
Approved by the board on 4 October 2024
Mark Mason Construction Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Tools and equipment 10% reducing balance
Office equipment over 3 years
Motor bike 20% reducing balance
Bicycle 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 9,496 17,946 27,442
Additions 266 - 266
At 31 May 2024 9,762 17,946 27,708
Depreciation
At 1 June 2023 8,545 4,068 12,613
Charge for the year 427 3,470 3,897
At 31 May 2024 8,972 7,538 16,510
Net book value
At 31 May 2024 790 10,408 11,198
At 31 May 2023 951 13,878 14,829
4 Debtors 2024 2023
£ £
Trade debtors 2,819 4,803
Other debtors 758 913
3,577 5,716
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 2,092 2,092
Taxation and social security costs 10,018 8,636
Other creditors 2,422 4,837
14,532 15,565
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 11,996 14,088
7 Other information
Mark Mason Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 3 Shap Road Industrial Estate
Kendal
Cumbria
LA9 6NZ
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