Mason Nettleton Limited
Unaudited Financial Statements
For the Period ended 31 July 2024
Pages for filing with registrar
Company Registration No. 14825610 (England and Wales)
MASON NETTLETON LIMITED
Mason Nettleton Limited
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
MASON NETTLETON LIMITED
Mason Nettleton Limited
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investments
3
1,302,643
Current assets
Debtors
4
100
Cash at bank and in hand
14
114
Creditors: amounts falling due within one year
5
(488,869)
Net current liabilities
(488,755)
Total assets less current liabilities
813,888
Creditors: amounts falling due after more than one year
6
(815,346)
Net liabilities
(1,458)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(1,558)
Total equity
(1,458)

For the financial period ended 31 July 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 period in question in accordance with section 476.

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 17 January 2025 and are signed on its behalf by:
Mr R G J Nettleton
Mrs H Mason-Seager
Director
Director
Company registration number 14825610 (England and Wales)
MASON NETTLETON LIMITED
Mason Nettleton Limited
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JULY 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 25 April 2023
-
0
-
0
-
Period ended 31 July 2024:
Profit and total comprehensive income
-
842
842
Issue of share capital
100
-
100
Dividends
-
(2,400)
(2,400)
Balance at 31 July 2024
100
(1,558)
(1,458)
MASON NETTLETON LIMITED
Mason Nettleton Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Mason Nettleton Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3-4 Forbes Buiness Centre, Kempson Way, Bury St Edmunds, IP32 7AR.

1.1
Reporting period

These financial statements have been prepared for a long period from the date of incorporation of 25 April 2023 to 31 July 2024.

1.2
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 £.

1.3
Going concern

The directors recognise that the company is loss making and profit and loss reserves are negative. The company has the ongoing support of its trading subsidiary and the directors are confident the company can continue as a going concern.    

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

MASON NETTLETON LIMITED
Mason Nettleton Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

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

2024
Number
Total
2
3
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
1,302,643
MASON NETTLETON LIMITED
Mason Nettleton Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
3
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 25 April 2023
-
Additions
1,302,643
At 31 July 2024
1,302,643
Carrying amount
At 31 July 2024
1,302,643
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
100
5
Creditors: amounts falling due within one year
2024
£
Other creditors
488,869
6
Creditors: amounts falling due after more than one year
2024
£
Other creditors
815,346
7
Share buy-out

On 1st August 2023 the company purchased 100 Ordinary Shares in SEN Legal Limited. As at 31st July 2024 there is outstanding deferred consideration of £917,265 which will be paid over the next 9 years. There is a fixed charge over the 100 ordinary shares in SEN Legal Limited.

2024-07-312023-04-25false22 January 2025CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr R G J NettletonMrs H Mason-Seagerfalsefalse148256102023-04-252024-07-31148256102024-07-3114825610core:CurrentFinancialInstrumentscore:WithinOneYear2024-07-3114825610core:Non-currentFinancialInstrumentscore:AfterOneYear2024-07-3114825610core:ShareCapital2024-07-3114825610core:RetainedEarningsAccumulatedLosses2024-07-3114825610core:ShareCapital2023-04-2414825610core:RetainedEarningsAccumulatedLosses2023-04-2414825610bus:Director12023-04-252024-07-3114825610bus:Director22023-04-252024-07-3114825610core:RetainedEarningsAccumulatedLosses2023-04-252024-07-3114825610core:ShareCapital2023-04-252024-07-3114825610core:WithinOneYear2024-07-3114825610core:CurrentFinancialInstruments2024-07-3114825610core:Non-currentFinancialInstruments2024-07-3114825610bus:PrivateLimitedCompanyLtd2023-04-252024-07-3114825610bus:SmallCompaniesRegimeForAccounts2023-04-252024-07-3114825610bus:FRS1022023-04-252024-07-3114825610bus:AuditExemptWithAccountantsReport2023-04-252024-07-3114825610bus:FullAccounts2023-04-252024-07-31xbrli:purexbrli:sharesiso4217:GBP