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Mastertech Poole Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Freestone & Co
Chartered Accountants
1 The Centre
High Street
Gillingham
Dorset
SP8 4AB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 08007637
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 37,203 49,401
37,203 49,401
CURRENT ASSETS
Stocks 5 3,959 2,792
Debtors 6 85,837 80,574
Cash at bank and in hand 289,856 188,770
379,652 272,136
Creditors: Amounts Falling Due Within One Year 7 (191,125 ) (123,932 )
NET CURRENT ASSETS (LIABILITIES) 188,527 148,204
TOTAL ASSETS LESS CURRENT LIABILITIES 225,730 197,605
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,026 ) (5,208 )
NET ASSETS 221,704 192,397
CAPITAL AND RESERVES
Called up share capital 8 200 100
Profit and Loss Account 221,504 192,297
SHAREHOLDERS' FUNDS 221,704 192,397
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For the year ending 31 March 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
T J Hilder
Director
9 October 2024
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Mastertech Poole Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08007637 . The registered office is One The Centre, High Street, Gillingham, Dorset, SP8 4AB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Not depreciated
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 7,114 31,662 62,425 1,030
Additions - 4,449 357 -
Disposals - (326 ) (1,790 ) -
As at 31 March 2024 7,114 35,785 60,992 1,030
...CONTINUED
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Depreciation
As at 1 April 2023 - 29,809 22,659 1,030
Provided during the period - 2,039 14,748 -
Disposals - (326 ) (1,790 ) -
As at 31 March 2024 - 31,522 35,617 1,030
Net Book Value
As at 31 March 2024 7,114 4,263 25,375 -
As at 1 April 2023 7,114 1,853 39,766 -
Computer Equipment Total
£ £
Cost
As at 1 April 2023 1,988 104,219
Additions 215 5,021
Disposals (258 ) (2,374 )
As at 31 March 2024 1,945 106,866
Depreciation
As at 1 April 2023 1,320 54,818
Provided during the period 303 17,090
Disposals (129 ) (2,245 )
As at 31 March 2024 1,494 69,663
Net Book Value
As at 31 March 2024 451 37,203
As at 1 April 2023 668 49,401
5. Stocks
2024 2023
£ £
Stock 3,959 2,792
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 16,883 14,446
Other debtors 68,954 66,128
85,837 80,574
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 49,957 9,137
Other creditors 60,184 34,538
Taxation and social security 80,984 80,257
191,125 123,932
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Later than five years 26,265 26,265
26,265 26,265
Operating lease payments represent rentals payable by the company for certain of its business premises. The lease was negociated for a term of 20 years expiring in June 2032. Rentals are subject to review every 5 years and there is no agreement in place at the date of signing of these accounts. 
10. Directors Advances, Credits and Guarantees
Dividends totalling £118,622 (2023 - £87,440) were paid in the year in respect of shares held by the company's directors.
Mr J B Dunn was paid dividends of £33,622 during the year in respect of his Ordinary shares held. Mr J B Dunn waived dividends of £3,736 in respect of his Ordinary shares held.
Mr T J Hilder was paid dividends of £60,000 during the year in respect of his Ordinary shares held. Mr T J Hilder waived dividends of £14,715 in respect of his Ordinary shares held.
Mr T J Hilder was also paid dividends of £25,000 during the year in respect of his Ordinary A shares held.   
2024 2023
£ £
T J Hilder 85,000 50,000
J B Dunn 33,622 37,440
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11. Related Party Transactions
During the year, the company operated loan accounts with its directors to assist with its trade. At the year end the company owed Mr J B Dunn £14,930 (2023 - £14,950), and owed Mr T J Hilder £16,388 (2023 - £16,139).
These loans are interest-free and repayable on demand. 
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