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Registered number: 13494787
Masterplan G2 Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
E. H. Taylors
203 London Road
Hadleigh
Benfleet
Essex
SS7 2RD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13494787
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 301,561 124,361
301,561 124,361
CURRENT ASSETS
Debtors 5 299,939 74,098
Cash at bank and in hand 25,614 20,016
325,553 94,114
Creditors: Amounts Falling Due Within One Year 6 (265,884 ) (84,561 )
NET CURRENT ASSETS (LIABILITIES) 59,669 9,553
TOTAL ASSETS LESS CURRENT LIABILITIES 361,230 133,914
Creditors: Amounts Falling Due After More Than One Year 7 (173,525 ) (73,955 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (66,343 ) (28,203 )
NET ASSETS 121,362 31,756
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 121,360 31,754
SHAREHOLDERS' FUNDS 121,362 31,756
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Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Gary Knowles
Director
23rd August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Masterplan G2 Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13494787 . The registered office is 203 London Road, Hadleigh, Benfleet , Essex, SS7 2RD.
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:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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.
...CONTINUED
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2.5. Taxation - continued
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 reflects 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: 2 (2023: 1)
2 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 August 2023 22,526 152,290 174,816
Additions 35,173 273,478 308,651
Disposals - (30,933 ) (30,933 )
As at 31 July 2024 57,699 394,835 452,534
Depreciation
As at 1 August 2023 5,632 44,823 50,455
Provided during the period 13,016 87,502 100,518
As at 31 July 2024 18,648 132,325 150,973
Net Book Value
As at 31 July 2024 39,051 262,510 301,561
As at 1 August 2023 16,894 107,467 124,361
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 166,218 73,848
Prepayments and accrued income - 250
Other taxes and social security 323 -
Director's loan account 99,737 -
266,278 74,098
Due after more than one year
Corporation tax recoverable assets 33,661 -
299,939 74,098
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 105,146 37,137
Trade creditors 59,145 14,204
Corporation tax 54,588 -
VAT 39,333 28,804
Net wages 1,200 -
Accruals and deferred income 6,472 4,268
Director's loan account - 148
265,884 84,561
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 173,525 73,955
8. Secured Creditors
Of the creditors fallling due within and after more than one year the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 279,596 111,092
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 105,146 37,137
Later than one year and not later than five years 173,525 73,955
278,671 111,092
278,671 111,092
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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