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REGISTERED NUMBER: 11462877 (England and Wales)















Unaudited Financial Statements

For The Year Ended 31 July 2024

for

Masters Touch Ltd

Masters Touch Ltd (Registered number: 11462877)






Contents of the Financial Statements
For The Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Masters Touch Ltd

Company Information
For The Year Ended 31 July 2024







DIRECTORS: Ms E L Moss-Bowmaker
Mr M B Miranda





REGISTERED OFFICE: 137 Putney Bridge Road
London
SW15 2PA





REGISTERED NUMBER: 11462877 (England and Wales)





ACCOUNTANTS: RNS Business Solutions Limited
Chartered Accountants
276 Preston Road
Harrow
Middlesex
HA3 0QA

Masters Touch Ltd (Registered number: 11462877)

Balance Sheet
31 July 2024

31/7/24 31/7/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,473 18,428

CURRENT ASSETS
Stocks 9,298 9,511
Debtors 5 33,519 25,622
Cash at bank and in hand 10,039 16,405
52,856 51,538
CREDITORS
Amounts falling due within one year 6 46,193 45,155
NET CURRENT ASSETS 6,663 6,383
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,136

24,811

CREDITORS
Amounts falling due after more than one year 7 6,957 23,277
NET ASSETS 11,179 1,534

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 11,079 1,434
11,179 1,534

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Masters Touch Ltd (Registered number: 11462877)

Balance Sheet - continued
31 July 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 April 2025 and were signed on its behalf by:





Ms E L Moss-Bowmaker - Director


Masters Touch Ltd (Registered number: 11462877)

Notes to the Financial Statements
For The Year Ended 31 July 2024

1. STATUTORY INFORMATION

Masters Touch Ltd 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instruments 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.

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 and Loss Account.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


Masters Touch Ltd (Registered number: 11462877)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Basic financial assets, including trade and other debtors, are initially 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.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Masters Touch Ltd (Registered number: 11462877)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2023 19,259 8,930 14,999 43,188
Additions - 2,591 - 2,591
Disposals - - (14,999 ) (14,999 )
At 31 July 2024 19,259 11,521 - 30,780
DEPRECIATION
At 1 August 2023 9,730 6,358 8,672 24,760
Charge for year 1,926 1,293 1,582 4,801
Eliminated on disposal - - (10,254 ) (10,254 )
At 31 July 2024 11,656 7,651 - 19,307
NET BOOK VALUE
At 31 July 2024 7,603 3,870 - 11,473
At 31 July 2023 9,529 2,572 6,327 18,428

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Trade debtors 1,210 1,719
Other debtors 32,309 23,903
33,519 25,622

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Bank loans and overdrafts 8,239 8,051
Hire purchase contracts (see note 8) - 2,230
Trade creditors 1,417 425
Taxation and social security 32,270 30,290
Other creditors 4,267 4,159
46,193 45,155

Masters Touch Ltd (Registered number: 11462877)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/7/24 31/7/23
£    £   
Bank loans 6,957 15,152
Hire purchase contracts (see note 8) - 8,125
6,957 23,277

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 6,906

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31/7/24 31/7/23
£    £   
Gross obligations repayable:
Within one year - 3,312
Between one and five years - 9,207
- 12,519

Finance charges repayable:
Within one year - 1,082
Between one and five years - 1,082
- 2,164

Net obligations repayable:
Within one year - 2,230
Between one and five years - 8,125
- 10,355

Masters Touch Ltd (Registered number: 11462877)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

31/7/2431/7/23
£ £
Balance outstanding at start of year 15,82924,271
Amounts advanced7,684-
Amounts repaid-(8,442)
Amounts written off--
Amounts waived--
Balance outstanding at end of year23,51315,829
The interest payable on advances paid to the directors is calculated at 2.25% per annum. The advances are repayable on demand.

10. RELATED PARTY DISCLOSURES

Included in debtors is an amount due from the directors and shareholders of £23,513 as detailed in note .9