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Company Registration No. 06685408 (England and Wales)
Master Accounting Limited Unaudited accounts for the year ended 31 August 2024
Master Accounting Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Master Accounting Limited Company Information for the year ended 31 August 2024
Directors
Mark Buckmaster Rachel Buckmaster
Company Number
06685408 (England and Wales)
Registered Office
THE STABLES, ASHLEY COURT 32 MAIN STREET ASHLEY MARKET HARBOROUGH LEICESTERSHIRE LE16 8HF ENGLAND
Accountants
Master Accounting Limited The Stables, Ashley Court 32 Main Street, Ashley Market Harborough Leicestershire LE16 8HF
- 3 -
Master Accounting Limited Statement of financial position as at 31 August 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
28,843
39,039
Investments
5
6,100
5,000
34,943
44,039
Current assets
Debtors
6
70,784
64,372
Cash at bank and in hand
21,695
22,331
92,479
86,703
Creditors: amounts falling due within one year
7
(39,036)
(46,273)
Net current assets
53,443
40,430
Total assets less current liabilities
88,386
84,469
Creditors: amounts falling due after more than one year
8
(32,608)
(42,590)
Provisions for liabilities
Other provisions
(38,500)
-
Net assets
17,278
41,879
Capital and reserves
Called up share capital
1
1
Profit and loss account
17,277
41,878
Shareholders' funds
17,278
41,879
For the year ending 31 August 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 May 2025 and were signed on its behalf by
Mark Buckmaster Director Company Registration No. 06685408
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Master Accounting Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Master Accounting Limited is a private company, limited by shares, registered in England and Wales, registration number 06685408. The registered office is THE STABLES, ASHLEY COURT 32 MAIN STREET, ASHLEY, MARKET HARBOROUGH, LEICESTERSHIRE, LE16 8HF, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Amended Accounts
These accounts replace the original accounts and are now the statutory accounts and are prepared as they were at the date of the original account.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% - straight line
Motor vehicles
25% - straight line
Fixtures & fittings
20% - straight line
Computer equipment
33% - straight line
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Master Accounting Limited Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2023
19,915
15,354
24,227
12,778
72,274
Additions
-
846
-
465
1,311
At 31 August 2024
19,915
16,200
24,227
13,243
73,585
Depreciation
At 1 September 2023
12,654
2,207
6,861
11,513
33,235
Charge for the year
2,201
3,951
4,439
916
11,507
At 31 August 2024
14,855
6,158
11,300
12,429
44,742
Net book value
At 31 August 2024
5,060
10,042
12,927
814
28,843
At 31 August 2023
7,261
13,147
17,366
1,265
39,039
5
Investments
Other investments
£
Valuation at 1 September 2023
5,000
Fair value adjustments
1,100
Valuation at 31 August 2024
6,100
6
Debtors
2024
2023
£
£
Amounts falling due within one year
Trade debtors
29,655
25,095
Accrued income and prepayments
1,852
-
Other debtors
39,277
39,277
70,784
64,372
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,557
6,557
VAT
13,957
10,813
Obligations under finance leases and hire purchase contracts
3,166
2,984
Trade creditors
198
-
Taxes and social security
7,366
9,736
Other creditors
6,104
13,571
Loans from directors
312
1,236
Accruals
1,376
1,376
39,036
46,273
- 6 -
Master Accounting Limited Notes to the Accounts for the year ended 31 August 2024
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
27,520
34,336
Obligations under finance leases and hire purchase contracts
5,088
8,254
32,608
42,590
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).
- 7 -