IRIS Accounts Production v25.1.0.734 04400943 Board of Directors 1.2.23 31.7.24 31.7.24 false true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh044009432023-01-31044009432024-07-31044009432023-02-012024-07-31044009432022-01-31044009432022-02-012023-01-31044009432023-01-3104400943ns15:EnglandWales2023-02-012024-07-3104400943ns14:PoundSterling2023-02-012024-07-3104400943ns10:Director12023-02-012024-07-3104400943ns10:PrivateLimitedCompanyLtd2023-02-012024-07-3104400943ns10:SmallEntities2023-02-012024-07-3104400943ns10:AuditExempt-NoAccountantsReport2023-02-012024-07-3104400943ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-07-3104400943ns10:SmallCompaniesRegimeForAccounts2023-02-012024-07-3104400943ns10:FullAccounts2023-02-012024-07-310440094312023-02-012024-07-3104400943ns10:Director22023-02-012024-07-3104400943ns10:Director32023-02-012024-07-3104400943ns10:RegisteredOffice2023-02-012024-07-3104400943ns5:CurrentFinancialInstruments2024-07-3104400943ns5:CurrentFinancialInstruments2023-01-3104400943ns5:Non-currentFinancialInstruments2024-07-3104400943ns5:Non-currentFinancialInstruments2023-01-3104400943ns5:ShareCapital2024-07-3104400943ns5:ShareCapital2023-01-3104400943ns5:FurtherSpecificReserve3ComponentTotalEquity2024-07-3104400943ns5:FurtherSpecificReserve3ComponentTotalEquity2023-01-3104400943ns5:RetainedEarningsAccumulatedLosses2024-07-3104400943ns5:RetainedEarningsAccumulatedLosses2023-01-3104400943ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-07-3104400943ns5:LandBuildings2023-02-012024-07-3104400943ns5:PlantMachinery2023-02-012024-07-3104400943ns5:NetGoodwill2023-01-3104400943ns5:NetGoodwill2024-07-3104400943ns5:NetGoodwill2023-01-3104400943ns5:LandBuildings2023-01-3104400943ns5:PlantMachinery2023-01-3104400943ns5:LandBuildings2024-07-3104400943ns5:PlantMachinery2024-07-3104400943ns5:LandBuildings2023-01-3104400943ns5:PlantMachinery2023-01-3104400943ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-07-3104400943ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3104400943ns5:Secured2024-07-3104400943ns5:Secured2023-01-31
REGISTERED NUMBER: 04400943 (England and Wales)















MAS Car & Commercial Limited

Unaudited Financial Statements

for the Period 1 February 2023 to 31 July 2024






MAS Car & Commercial Limited (Registered number: 04400943)






Contents of the Financial Statements
for the Period 1 February 2023 to 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MAS Car & Commercial Limited

Company Information
for the Period 1 February 2023 to 31 July 2024







DIRECTORS: S A Bacon
J C Bacon





REGISTERED OFFICE: Unit 7
West Lane Trading Estate
Sittingbourne
Kent
ME10 3TT





REGISTERED NUMBER: 04400943 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
3 - 5 London Road
Rainham
Gillingham
Kent
ME8 7RG

MAS Car & Commercial Limited (Registered number: 04400943)

Statement of Financial Position
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,051 1,131,574
Investment property 6 2,755,742 -
2,763,793 1,131,574

CURRENT ASSETS
Inventories - 29,362
Debtors 7 14,991 101,342
Cash at bank 33,159 33,996
48,150 164,700
CREDITORS
Amounts falling due within one year 8 551,387 414,321
NET CURRENT LIABILITIES (503,237 ) (249,621 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,260,556 881,953

CREDITORS
Amounts falling due after more than one
year

9

(186,613

)

(435,509

)

PROVISIONS FOR LIABILITIES (452,007 ) (13,564 )
NET ASSETS 1,621,936 432,880

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 1,354,144 -
Retained earnings 267,692 432,780
SHAREHOLDERS' FUNDS 1,621,936 432,880

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

MAS Car & Commercial Limited (Registered number: 04400943)

Statement of Financial Position - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2025 and were signed on its behalf by:





M A Sellar - Director


MAS Car & Commercial Limited (Registered number: 04400943)

Notes to the Financial Statements
for the Period 1 February 2023 to 31 July 2024

1. STATUTORY INFORMATION

MAS Car & Commercial Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Following and change in ownership of the company the accounting period was extended to end on 31 July 2024 to align with other companies in the group.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - Over the term of the lease
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on cost, 20% on reducing balance and 10% on cost

Land and buildings include an element of investment property which cannot be measured reliably without undue cost or effort. For this reason all land and buildings remain at cost less deprecation.

Investment property
Investment property is included at fair value. Gains are recognised in the income statement and shown in a fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks and work in progress
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell.
In respect of work in progress and finished goods, cost includes an appropriate proportion of attributable overheads according to the stage of manufacture/completion.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.


MAS Car & Commercial Limited (Registered number: 04400943)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 31 July 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 by the period end.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 July 2024 30,000
AMORTISATION
At 1 February 2023
and 31 July 2024 30,000
NET BOOK VALUE
At 31 July 2024 -
At 31 January 2023 -

MAS Car & Commercial Limited (Registered number: 04400943)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 31 July 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2023 1,050,376 291,883 1,342,259
Additions 119,066 24,576 143,642
Disposals (1,169,442 ) (302,883 ) (1,472,325 )
At 31 July 2024 - 13,576 13,576
DEPRECIATION
At 1 February 2023 165,205 45,480 210,685
Charge for period 54,020 13,665 67,685
Eliminated on disposal (219,225 ) (53,620 ) (272,845 )
At 31 July 2024 - 5,525 5,525
NET BOOK VALUE
At 31 July 2024 - 8,051 8,051
At 31 January 2023 885,171 246,403 1,131,574


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 950,217
Revaluations 1,805,525
At 31 July 2024 2,755,742
NET BOOK VALUE
At 31 July 2024 2,755,742

Investment property was valued by the directors at fair value on 31 July 2024.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 100,739
Other debtors 14,991 603
14,991 101,342

MAS Car & Commercial Limited (Registered number: 04400943)

Notes to the Financial Statements - continued
for the Period 1 February 2023 to 31 July 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 66,854 67,960
Hire purchase contracts - 31,566
Trade creditors - 77,336
Amounts owed to group undertakings 457,993 -
Taxation and social security 1,253 53,418
Other creditors 25,287 184,041
551,387 414,321

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 186,613 291,595
Hire purchase contracts - 143,914
186,613 435,509

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 years - 28,127

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 253,467 359,555
Hire purchase contracts - 175,480
253,467 535,035

The bank loans are secured by a legal charge over the company's land and buildings.

11. OTHER FINANCIAL COMMITMENTS

The company has total other operating lease commitments at 31 July 2024 of £1,678,600.

12. ULTIMATE CONTROLLING PARTY

MAS Car & Commercial LImited is a wholly owned subsidiary of North Kent Holdings Limited, a company incorporated in England and Wales whose registered office address is Unit 7 West Lane Industrial Estate, West Lane, Sittingbourne, Kent, ME10 3TT