10 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06497631 2023-07-01 2024-06-30 06497631 2024-06-30 06497631 2023-06-30 06497631 2022-07-01 2023-06-30 06497631 2023-06-30 06497631 2022-06-30 06497631 core:LandBuildings core:LongLeaseholdAssets 2023-07-01 2024-06-30 06497631 core:PlantMachinery 2023-07-01 2024-06-30 06497631 bus:Director1 2023-07-01 2024-06-30 06497631 bus:Director2 2023-07-01 2024-06-30 06497631 core:NetGoodwill 2023-06-30 06497631 core:NetGoodwill 2024-06-30 06497631 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 06497631 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 06497631 core:PlantMachinery 2023-06-30 06497631 core:MotorVehicles 2023-06-30 06497631 core:LandBuildings core:LongLeaseholdAssets 2024-06-30 06497631 core:PlantMachinery 2024-06-30 06497631 core:MotorVehicles 2024-06-30 06497631 core:MotorVehicles 2023-07-01 2024-06-30 06497631 core:WithinOneYear 2024-06-30 06497631 core:WithinOneYear 2023-06-30 06497631 core:ShareCapital 2024-06-30 06497631 core:ShareCapital 2023-06-30 06497631 core:RetainedEarningsAccumulatedLosses 2024-06-30 06497631 core:RetainedEarningsAccumulatedLosses 2023-06-30 06497631 core:NetGoodwill 2023-07-01 2024-06-30 06497631 core:NetGoodwill 2023-06-30 06497631 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 06497631 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 06497631 core:PlantMachinery 2023-06-30 06497631 core:MotorVehicles 2023-06-30 06497631 bus:SmallEntities 2023-07-01 2024-06-30 06497631 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06497631 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06497631 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06497631 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 06497631
Andrew Maskery Associates Limited
Unaudited financial statements
For the year ended
30 June 2024
Andrew Maskery Associates Limited
Statement of financial position
30 June 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
26,377
32,647
Tangible assets
6
113,851
159,681
---------
---------
140,228
192,328
Current assets
Stocks
317,196
248,607
Debtors
7
441,883
398,938
Cash at bank and in hand
212,689
272,990
---------
---------
971,768
920,535
Creditors: Amounts falling due within one year
8
( 588,679)
( 547,935)
---------
---------
Net current assets
383,089
372,600
---------
---------
Total assets less current liabilities
523,317
564,928
Provisions
Taxation including deferred tax
( 25,981)
( 37,659)
---------
---------
Net assets
497,336
527,269
---------
---------
Capital and reserves
Called up share capital
110
110
Profit and loss account
497,226
527,159
---------
---------
Shareholders funds
497,336
527,269
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Andrew Maskery Associates Limited
Statement of financial position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
Mr A J Maskery
Mrs D J Maskery
Director
Director
Company registration number: 06497631
Andrew Maskery Associates Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office The Wherry, Quay Street, Halesworth, Suffolk, IP19 8ET. The company's trading address is Unit 21, Saxtead Business Centre, Woodbridge, IP13 9RD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
10% straight line
Plant and machinery
-
20% straight line
Motor vehicles
-
25% straight line basis (RV : 30% on cost)
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 10 (2023: 10 ).
5. Intangible assets
Goodwill
Development costs
Total
£
£
£
Cost
At 1 July 2023 and 30 June 2024
66,350
6,000
72,350
-------
------
-------
Amortisation
At 1 July 2023
39,703
39,703
Charge for the year
6,270
6,270
-------
------
-------
At 30 June 2024
45,973
45,973
-------
------
-------
Carrying amount
At 30 June 2024
20,377
6,000
26,377
-------
------
-------
At 30 June 2023
26,647
6,000
32,647
-------
------
-------
6. Tangible assets
Leasehold property
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023
18,061
51,714
177,461
247,236
Additions
11,802
11,802
Disposals
( 14,166)
( 4,905)
( 50,685)
( 69,756)
-------
-------
---------
---------
At 30 June 2024
3,895
58,611
126,776
189,282
-------
-------
---------
---------
Depreciation
At 1 July 2023
9,016
32,033
46,507
87,556
Charge for the year
1,806
6,567
25,241
33,614
Disposals
( 9,112)
( 4,138)
( 32,489)
( 45,739)
-------
-------
---------
---------
At 30 June 2024
1,710
34,462
39,259
75,431
-------
-------
---------
---------
Carrying amount
At 30 June 2024
2,185
24,149
87,517
113,851
-------
-------
---------
---------
At 30 June 2023
9,045
19,681
130,954
159,680
-------
-------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
441,883
398,938
---------
---------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
478,752
500,025
Social security and other taxes
70,535
29,656
Other creditors
39,392
18,254
---------
---------
588,679
547,935
---------
---------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
2,220
----
------