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REGISTERED NUMBER: 07089707 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

Masco Properties Limited

Masco Properties Limited (Registered number: 07089707)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Masco Properties Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr D A Brennand
Mr M S Brennand





SECRETARY: Mrs K J Brennand





REGISTERED OFFICE: 17-19 Park Street
Lytham
Lancashire
FY8 5LU





REGISTERED NUMBER: 07089707 (England and Wales)





ACCOUNTANTS: Ashworth Treasure Limited
Chartered Accountants
17-19 Park Street
Lytham
Lancashire
FY8 5LU

Masco Properties Limited (Registered number: 07089707)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 150,000 150,000

CURRENT ASSETS
Cash at bank 95 598

CREDITORS
Amounts falling due within one year 5 92,688 92,087
NET CURRENT LIABILITIES (92,593 ) (91,489 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

57,407

58,511

CREDITORS
Amounts falling due after more than one
year

6

42,786

46,982
NET ASSETS 14,621 11,529

CAPITAL AND RESERVES
Called up share capital 4 4
Revaluation reserve 7 53,345 53,345
Retained earnings (38,728 ) (41,820 )
14,621 11,529

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





Mr M S Brennand - Director


Masco Properties Limited (Registered number: 07089707)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Masco Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Long term contracts
When the outcome of an individual contract can be foreseen with reasonable certainty and can be estimated reliably, margin is recognised by reference to the stage of completion, based on the lower of the percentage margin earned to date and that prudently forecast at completion. This is after the deduction of any foreseeable losses and applicable payments on account.

Operating profit is stated after attributable profit on long term contracts completed and amounts recoverable on contracts uncompleted, the latter also being included within debtors due within one year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 150,000
NET BOOK VALUE
At 30 April 2024 150,000
At 30 April 2023 150,000

Masco Properties Limited (Registered number: 07089707)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 53,345
Cost 96,655
150,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,422 6,422
Trade creditors 10,047 10,047
Intercompany loan accounts 72,938 65,538
Taxation and social security 1,281 10,080
Other creditors 2,000 -
92,688 92,087

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 42,786 46,982

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 17,101 21,297

7. RESERVES
Revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 53,345

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr D A Brennand
Balance outstanding at start of year - 10,000
Amounts repaid - (10,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr M S Brennand
Balance outstanding at start of year - 10,000
Amounts repaid - (10,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loans are repayable on demand. Interest was charged at the official rate of interest where appropriate throughout the period.