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REGISTERED NUMBER: 13879553 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

Mastergrid Limited

Mastergrid Limited (Registered number: 13879553)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Mastergrid Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: B A D De Turckheim
L M Zangara





SECRETARY: Pramex International Ltd





REGISTERED OFFICE: 8th Floor South
11 Old Jewry
London
EC2R 8DU





REGISTERED NUMBER: 13879553 (England and Wales)





AUDITORS: Maynard Heady LLP Chartered Accountants
Matrix House 12-16 Lionel Road
Canvey Island
Essex
SS8 9DE

Mastergrid Limited (Registered number: 13879553)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
CURRENT ASSETS
Debtors 4 536,224 255,654
Cash at bank 42,896 12,477
579,120 268,131
CREDITORS
Amounts falling due within one year 5 530,925 259,725
NET CURRENT ASSETS 48,195 8,406
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,195

8,406

CAPITAL AND RESERVES
Called up share capital 6 10,000 10,000
Retained earnings 7 38,195 (1,594 )
SHAREHOLDERS' FUNDS 48,195 8,406

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 9 May 2025 and were signed on its behalf by:





L M Zangara - Director


Mastergrid Limited (Registered number: 13879553)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Mastergrid 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 (£).


On 18th July 2024, the company changed its name from MG Eco Solutions Limited to Mastergrid Limited.

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.

Mastergrid Limited (Registered number: 13879553)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 1a to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include debtors, prepayments, amounts owed from fellow group companies, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, accruals and taxes 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year 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 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.

Mastergrid Limited (Registered number: 13879553)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
The company is dependent upon the continued financial support of its parent company which has undertaken to financially support the company for the at least 12 months after the date of the signing of these accounts and for the foreseeable future. The financial statements have therefore been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 536,224 255,654

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 21,726 1,159
Amounts owed to group undertakings 409,270 221,516
Tax 13,296 -
VAT 80,333 33,321
Accruals 6,300 3,729
530,925 259,725

Mastergrid Limited (Registered number: 13879553)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
10,000 Ordinary Share 1 10,000 10,000

7. RESERVES
Retained
earnings
£   

At 1 January 2024 (1,594 )
Profit for the year 39,789
At 31 December 2024 38,195

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Nicholas Bragg ACA (Senior Statutory Auditor)
for and on behalf of Maynard Heady LLP Chartered Accountants

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate controlling parent company is Ircamex SAS, a company incorporated in France, whose registered address is 2 Rue du Chateau de L'eraudeire, 44300, Nantes, France.