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Registration number: 07915812

MAS Networks Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

MAS Networks Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

MAS Networks Ltd

Company Information

Director

Mr J J Hough

Company secretary

Mrs K J Hough

Registered office

Bolney Place
Cowfold Road
Bolney
Haywards Heath
West Sussex
RH17 5QT

Accountants

Blackman Terry Accountants Ltd
Chartered Certified AccountantBolney Place
Cowfold Road
Bolney
Haywards Heath
West Sussex
RH17 5QT

 

MAS Networks Ltd

(Registration number: 07915812)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

99,307

117,907

Investments

5

1,611,344

1,618,983

 

1,710,651

1,736,890

Current assets

 

Stocks

6

11,264

10,575

Debtors

7

2,763,662

1,234,861

Cash at bank and in hand

 

223,872

361,228

 

2,998,798

1,606,664

Creditors: Amounts falling due within one year

8

(978,264)

(1,106,148)

Net current assets

 

2,020,534

500,516

Total assets less current liabilities

 

3,731,185

2,237,406

Creditors: Amounts falling due after more than one year

8

(25,184)

(29,665)

Net assets

 

3,706,001

2,207,741

Capital and reserves

 

Called up share capital

9

1,001

1,001

Share premium reserve

129

129

Retained earnings

3,704,871

2,206,611

Shareholders' funds

 

3,706,001

2,207,741

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 March 2025
 

 

MAS Networks Ltd

(Registration number: 07915812)
Balance Sheet as at 31 January 2025

.........................................
Mr J J Hough
Director

 

MAS Networks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bolney Place
Cowfold Road
Bolney
Haywards Heath
West Sussex
RH17 5QT

These financial statements were authorised for issue by the director on 20 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

MAS Networks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Reducing Balance

Plant and Machinery

2 Year Straight Line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

MAS Networks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

MAS Networks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2024 - 0).

 

MAS Networks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2024

180,240

42,744

103,790

326,774

Additions

26,498

-

8,157

34,655

At 31 January 2025

206,738

42,744

111,947

361,429

Depreciation

At 1 February 2024

107,749

14,763

86,355

208,867

Charge for the year

24,747

6,995

21,513

53,255

At 31 January 2025

132,496

21,758

107,868

262,122

Carrying amount

At 31 January 2025

74,242

20,986

4,079

99,307

At 31 January 2024

72,491

27,981

17,435

117,907

5

Investments

2025
£

2024
£

Investments in subsidiaries

1,611,344

1,618,983

Subsidiaries

£

Cost or valuation

At 1 February 2024

1,618,983

Disposals

(7,639)

At 31 January 2025

1,611,344

Provision

Carrying amount

At 31 January 2025

1,611,344

At 31 January 2024

1,618,983

 

MAS Networks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Stocks

2025
£

2024
£

Other inventories

11,264

10,575

7

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

46,894

32,733

Amounts owed by related parties

2,660,756

1,138,093

Prepayments

 

46,022

54,046

Other debtors

 

9,990

9,989

   

2,763,662

1,234,861

 

MAS Networks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

10

638,447

581,515

Trade creditors

 

18,882

19,059

Amounts owed to group undertakings and undertakings in which the company has a participating interest

40,537

105,037

Taxation and social security

 

164,860

96,932

Accruals and deferred income

 

102,701

27,982

Other creditors

 

12,837

275,623

 

978,264

1,106,148

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

10

25,184

29,665

 

MAS Networks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

9

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

1,100

1,100

1,100

1,100

       

10

Loans and borrowings

2025
£

2024
£

Non-current loans and borrowings

Hire purchase contracts

25,184

29,665

2025
£

2024
£

Current loans and borrowings

Hire purchase contracts

4,481

4,481

Other borrowings

633,966

577,034

638,447

581,515

11

Parent and ultimate parent undertaking

The company's immediate parent is Mas Technicae Group (International) Ltd, incorporated in England and Wales.