Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false2023-01-01falsetrueNo description of principal activity12trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09931267 2023-01-01 2023-12-31 09931267 2022-01-01 2022-12-31 09931267 2023-12-31 09931267 2022-12-31 09931267 c:Director3 2023-01-01 2023-12-31 09931267 d:CurrentFinancialInstruments 2023-12-31 09931267 d:CurrentFinancialInstruments 2022-12-31 09931267 d:Non-currentFinancialInstruments 2023-12-31 09931267 d:Non-currentFinancialInstruments 2022-12-31 09931267 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09931267 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09931267 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09931267 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09931267 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 09931267 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 09931267 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 09931267 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 09931267 d:ShareCapital 2023-12-31 09931267 d:ShareCapital 2022-12-31 09931267 d:RetainedEarningsAccumulatedLosses 2023-12-31 09931267 d:RetainedEarningsAccumulatedLosses 2022-12-31 09931267 c:FRS102 2023-01-01 2023-12-31 09931267 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09931267 c:FullAccounts 2023-01-01 2023-12-31 09931267 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09931267 2 2023-01-01 2023-12-31 09931267 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 09931267









MAS ESTATES LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MAS ESTATES LIMITED
REGISTERED NUMBER: 09931267

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
168,166
168,166

Debtors: amounts falling due within one year
 4 
9,571
6,277

Cash at bank and in hand
 5 
100
100

  
177,837
174,543

Creditors: amounts falling due within one year
 6 
(150,580)
(145,772)

Net current assets
  
 
 
27,257
 
 
28,771

Total assets less current liabilities
  
27,257
28,771

Creditors: amounts falling due after more than one year
 7 
(48,684)
(50,665)

  

Net liabilities
  
(21,427)
(21,894)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(21,527)
(21,994)

  
(21,427)
(21,894)


Page 1

 
MAS ESTATES LIMITED
REGISTERED NUMBER: 09931267
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S G Sandhu
Director

Date: 31 October 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MAS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

MAS Estates Limited is a private company, limited by shares. The company was incorporated in England and Wales, registration number 09931267. The registered office is Aston House, Cornwall Avenue, London, N3 1LF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis notwithstanding that there is a deficiency of assets over liabilites as at 31 December 2023. The company retains the support of its creditors to meet its working capital requirements and obligations. On this basis the director considers it appropriate to prepare the financial statement on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
MAS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Stocks of properties

Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and, where applicable, direct labour costs and those overheads, not including any general administrative overheads, that have been incurred in bringing the stock to their present location and condition. Net realisable value represents the estimated net selling price less estimated total costs of completion of the finished units. Land held for development, including land in the course of development until legal completion of the sale of the asset, is initially recorded at cost.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in
Page 4

 
MAS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 2).


4.


Debtors

2023
2022
£
£


Other debtors
9,571
6,277



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
100
100

Less: bank overdrafts
(176)
-

(76)
100


Page 5

 
MAS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
176
-

Other creditors
149,004
142,772

Accruals and deferred income
1,400
3,000

150,580
145,772



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
48,684
50,665



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Bank loans
11,913
11,913

Amounts falling due 2-5 years

Bank loans
36,770
38,752


48,683
50,665


 
Page 6