Acorah Software Products - Accounts Production 16.1.300 false true true false 31 March 2025 13 June 2024 31 December 2024 31 December 2024 15776556 Mr Conrad Drangsland Mr Halvor Olsen true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 15776556 2024-06-12 15776556 2024-12-31 15776556 2024-06-13 2024-12-31 15776556 frs-core:CurrentFinancialInstruments 2024-12-31 15776556 frs-core:ShareCapital 2024-12-31 15776556 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 15776556 frs-bus:PrivateLimitedCompanyLtd 2024-06-13 2024-12-31 15776556 frs-bus:FilletedAccounts 2024-06-13 2024-12-31 15776556 frs-bus:SmallEntities 2024-06-13 2024-12-31 15776556 frs-bus:Audited 2024-06-13 2024-12-31 15776556 frs-bus:SmallCompaniesRegimeForAccounts 2024-06-13 2024-12-31 15776556 1 2024-06-13 2024-12-31 15776556 frs-bus:Director1 2024-06-13 2024-12-31 15776556 frs-bus:Director2 2024-06-13 2024-12-31 15776556 frs-countries:EnglandWales 2024-06-13 2024-12-31
Registered number: 15776556
Masonite Beams Ltd
Financial Statements
For the Period 13 June 2024 to 31 December 2024
Goodwille Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 15776556
31 December 2024
Notes £ £
CURRENT ASSETS
Stocks 4 257,617
Debtors 5 58,866
Cash at bank and in hand 35,375
351,858
Creditors: Amounts Falling Due Within One Year 6 (447,234 )
NET CURRENT ASSETS (LIABILITIES) (95,376 )
TOTAL ASSETS LESS CURRENT LIABILITIES (95,376 )
NET LIABILITIES (95,376 )
CAPITAL AND RESERVES
Called up share capital 7 1
Profit and Loss Account (95,377 )
SHAREHOLDERS' FUNDS (95,376)
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Conrad Drangsland
Director
31/03/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Masonite Beams Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15776556 . The registered office is 1 Chapel Street, Warwick, CV34 4HL.
The principal activity of the company is selling modern, customised, efficient, woodbased l-joists systems and technical solutions.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
Though the Company is operating at a loss, the Directors have a reasonable expectation that the Company will continue to have access to adequate resources to continue in operational existence for the foreseeable future. The Directors have considered a letter of support from its immediate parent company stating that they will support the Company should it not be in a position to meet any repayment obligations. Thus, the Directors continue to adopt the going concern basis in preparing the annual financial statements.
2.3. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates, and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.
2.4. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.9. Debtors
Basic financial assets, including trade and other debtors, are intially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
2.10. 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.
2.11. Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
2.12.   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.
2.13.   Disclousre of long or short period
The company was incorporated on 13 June 2024. The company’s yearend date is 31 December 2024. These financial statements are therefore for the short period from 13 June 2024 to 31 December 2024. There are no comparatives as this is the first period of account.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1
1
4. Stocks
31 December 2024
£
Stock 257,617
5. Debtors
31 December 2024
£
Due within one year
Trade debtors 24,347
Prepayments and accrued income 15,437
VAT 19,082
58,866
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
31 December 2024
£
Trade creditors 121,467
Other taxes and social security 5,709
Net wages 216
Other creditors 1,050
Accruals and deferred income 5,500
Amounts owed to group undertakings 313,292
447,234
7. Share Capital
31 December 2024
£
Allotted, Called up and fully paid 1
8. Dividends
No dividends were proposed or paid during the period. 
9. Related Party Transactions
The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of Section 33. 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” not to disclose transactions with entities that are wholly owned members of the group.
10. Ultimate Parent Undertaking and Controlling Party
The parent company of the smallest group in which these financial statements are consolidated is Masonite Beams AB, a company incorporated in Sweden. The registered office of Masonite Beams AB is Strandvägen 36, SE-914 41 Rundvik, Sweden.
11. Audit Information
The auditor's report on the accounts of Masonite Beams Ltd for the period ended 31 December 2024 was unqualified.
The auditor's report was signed by David Wheeler (Senior Statutory Auditor) for and on behalf of Bourner Bullock Chartered Accountants , Statutory Auditor.
Bourner Bullock Chartered Accountants
114 St Martin's Lane
London
WC2N 4BE
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