Acorah Software Products - Accounts Production 16.2.850 false true true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 09376769 Mr James Mason Mr Andrew Mason Mr Matthew Mason iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09376769 2023-07-31 09376769 2024-07-31 09376769 2023-08-01 2024-07-31 09376769 frs-core:CurrentFinancialInstruments 2024-07-31 09376769 frs-core:Non-currentFinancialInstruments 2024-07-31 09376769 frs-core:BetweenOneFiveYears 2024-07-31 09376769 frs-core:ComputerEquipment 2024-07-31 09376769 frs-core:ComputerEquipment 2023-08-01 2024-07-31 09376769 frs-core:ComputerEquipment 2023-07-31 09376769 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-07-31 09376769 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 09376769 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-31 09376769 frs-core:MotorVehicles 2024-07-31 09376769 frs-core:MotorVehicles 2023-08-01 2024-07-31 09376769 frs-core:MotorVehicles 2023-07-31 09376769 frs-core:PlantMachinery 2024-07-31 09376769 frs-core:PlantMachinery 2023-08-01 2024-07-31 09376769 frs-core:PlantMachinery 2023-07-31 09376769 frs-core:WithinOneYear 2024-07-31 09376769 frs-core:OtherReservesSubtotal 2024-07-31 09376769 frs-core:ShareCapital 2024-07-31 09376769 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 09376769 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09376769 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 09376769 frs-bus:SmallEntities 2023-08-01 2024-07-31 09376769 frs-bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 09376769 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09376769 frs-bus:Director1 2023-08-01 2024-07-31 09376769 frs-bus:Director1 2023-07-31 09376769 frs-bus:Director1 2024-07-31 09376769 frs-bus:Director2 2023-08-01 2024-07-31 09376769 frs-bus:Director3 2023-08-01 2024-07-31 09376769 frs-bus:Director3 2023-07-31 09376769 frs-bus:Director3 2024-07-31 09376769 frs-countries:EnglandWales 2023-08-01 2024-07-31 09376769 2022-07-31 09376769 2023-07-31 09376769 2022-08-01 2023-07-31 09376769 frs-core:CurrentFinancialInstruments 2023-07-31 09376769 frs-core:Non-currentFinancialInstruments 2023-07-31 09376769 frs-core:BetweenOneFiveYears 2023-07-31 09376769 frs-core:WithinOneYear 2023-07-31 09376769 frs-core:OtherReservesSubtotal 2023-07-31 09376769 frs-core:ShareCapital 2023-07-31 09376769 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 09376769
Masons Minibus & Coach Hire Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Myfi Group Limited
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Masons Minibus & Coach Hire Ltd for the year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Masons Minibus & Coach Hire Ltd for the year ended 31 July 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Masons Minibus & Coach Hire Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Masons Minibus & Coach Hire Ltd and state those matters that we have agreed to state to the directors of Masons Minibus & Coach Hire Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Masons Minibus & Coach Hire Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that Masons Minibus & Coach Hire Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Masons Minibus & Coach Hire Ltd . You consider that Masons Minibus & Coach Hire Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Masons Minibus & Coach Hire Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
17/04/2025
Myfi Group Limited
5 Mursley Road
Swanbourne
Milton Keynes
MK17 0SH
Page 1
Page 2
Balance Sheet
Registered number: 09376769
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,377,712 1,582,380
1,377,712 1,582,380
CURRENT ASSETS
Stocks 5 58,451 51,678
Debtors 6 687,311 302,556
Cash at bank and in hand 142,607 219,568
888,369 573,802
Creditors: Amounts Falling Due Within One Year 7 (1,471,492 ) (1,195,413 )
NET CURRENT ASSETS (LIABILITIES) (583,123 ) (621,611 )
TOTAL ASSETS LESS CURRENT LIABILITIES 794,589 960,769
Creditors: Amounts Falling Due After More Than One Year 8 (840,973 ) (922,146 )
NET (LIABILITIES)/ASSETS (46,384 ) 38,623
CAPITAL AND RESERVES
Called up share capital 10 1,000 100
Other reserves (329 ) -
Profit and Loss Account (47,055 ) 38,523
SHAREHOLDERS' FUNDS (46,384) 38,623
Page 2
Page 3
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 James Mason
Director
16/04/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Masons Minibus & Coach Hire Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09376769 . The registered office is Unit 27a Old Airfield Industrial Estate, Cheddington Lane, Tring, Herts, HP23 4QR.
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
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10%
Plant & Machinery 25%
Motor Vehicles 10% & 20%
Computer Equipment 25%
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 33 (2023: 35)
33 35
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 54,228 79,481 2,594,203 41,127 2,769,039
Additions - - 220,500 2,122 222,622
Disposals - - (248,000 ) - (248,000 )
As at 31 July 2024 54,228 79,481 2,566,703 43,249 2,743,661
Depreciation
As at 1 August 2023 15,613 43,242 1,106,607 21,197 1,186,659
Provided during the period 3,861 9,060 281,762 5,315 299,998
Disposals - - (120,708 ) - (120,708 )
As at 31 July 2024 19,474 52,302 1,267,661 26,512 1,365,949
Net Book Value
As at 31 July 2024 34,754 27,179 1,299,042 16,737 1,377,712
As at 1 August 2023 38,615 36,239 1,487,596 19,930 1,582,380
5. Stocks
2024 2023
£ £
Stock 58,451 51,678
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 94,459 114,118
Other debtors 592,852 188,438
687,311 302,556
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 221,074 394,775
Trade creditors 258,735 176,435
Bank loans and overdrafts 111,505 91,805
Other creditors 853,802 508,276
Taxation and social security 26,376 24,122
1,471,492 1,195,413
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Page 6
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 583,225 711,747
Bank loans 257,748 210,399
840,973 922,146
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 221,074 394,775
Later than one year and not later than five years 583,225 711,747
804,299 1,106,522
804,299 1,106,522
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr James Mason 4,523 - - - 4,523
Mr Matthew Mason 8,823 - - - 8,823
The above loan is unsecured, interest free and repayable on demand.
Page 6