Registered number
10891128
Masters Real Estate Investment Limited
Filleted Accounts
31 July 2024
Masters Real Estate Investment Limited
Registered number: 10891128
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 699,729 700,415
Current assets
Debtors 4 14 -
Cash at bank and in hand 5,505 9,927
5,519 9,927
Creditors: amounts falling due within one year 5 (80,773) (121,630)
Net current liabilities (75,254) (111,703)
Total assets less current liabilities 624,475 588,712
Creditors: amounts falling due after more than one year 6 (648,930) (614,886)
Net liabilities (24,455) (26,174)
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 9,000 9,000
Profit and loss account (33,555) (35,274)
Shareholders' funds (24,455) (26,174)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Joe Masters
Director
Approved by the board on 7 February 2025
Masters Real Estate Investment Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 696,983 7,927 704,910
At 31 July 2024 696,983 7,927 704,910
Depreciation
At 1 August 2023 - 4,495 4,495
Charge for the year - 686 686
At 31 July 2024 - 5,181 5,181
Net book value
At 31 July 2024 696,983 2,746 699,729
At 31 July 2023 696,983 3,432 700,415
4 Debtors 2024 2023
£ £
Other debtors 14 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 21,706 -
Other creditors 59,067 121,630
80,773 121,630
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 473,180 494,886
Other creditors 175,750 120,000
648,930 614,886
7 Revaluation reserve 2024 2023
£ £
At 1 August 2023 9,000 9,000
At 31 July 2024 9,000 9,000
8 Other information
Masters Real Estate Investment Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 St. Johns Road
Winchester
England
SO23 0HQ
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