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REGISTERED NUMBER: 07340773 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Mastercars (Tempsford) Limited

Mastercars (Tempsford) Limited (Registered number: 07340773)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Mastercars (Tempsford) Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: R D Masters
L D Moreno-Samuels





REGISTERED OFFICE: 1-2
Bunyan Road
Hitchin
Hertfordshire
SG5 1NL





REGISTERED NUMBER: 07340773 (England and Wales)





ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Mastercars (Tempsford) Limited (Registered number: 07340773)

Balance Sheet
31 October 2024

31/10/24 31/10/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 601,853 602,989

CURRENT ASSETS
Stocks 390,519 299,578
Debtors 6 72,907 66,011
Cash at bank and in hand 5,995 52,828
469,421 418,417
CREDITORS
Amounts falling due within one year 7 433,332 346,699
NET CURRENT ASSETS 36,089 71,718
TOTAL ASSETS LESS CURRENT
LIABILITIES

637,942

674,707

CREDITORS
Amounts falling due after more than one
year

8

(231,205

)

(274,744

)

PROVISIONS FOR LIABILITIES (40,397 ) (75,425 )
NET ASSETS 366,340 324,538

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 181,983 181,983
Retained earnings 184,257 142,455
366,340 324,538

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

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

Mastercars (Tempsford) Limited (Registered number: 07340773)

Balance Sheet - continued
31 October 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 23 May 2025 and were signed on its behalf by:





R D Masters - Director


Mastercars (Tempsford) Limited (Registered number: 07340773)

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

1. STATUTORY INFORMATION

Mastercars (Tempsford) 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Freehold property - not provided
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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

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.

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.

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.

Mastercars (Tempsford) Limited (Registered number: 07340773)

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

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 600,000 21,659 621,659
DEPRECIATION
At 1 November 2023 - 18,670 18,670
Charge for year - 1,136 1,136
At 31 October 2024 - 19,806 19,806
NET BOOK VALUE
At 31 October 2024 600,000 1,853 601,853
At 31 October 2023 600,000 2,989 602,989

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/24 31/10/23
£    £   
Trade debtors 3,463 2,325
Other debtors 69,444 63,686
72,907 66,011

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/24 31/10/23
£    £   
Bank loans and overdrafts 91,667 42,042
Trade creditors 316,640 270,969
Taxation and social security 5,983 9,755
Other creditors 19,042 23,933
433,332 346,699

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/10/24 31/10/23
£    £   
Bank loans 231,205 274,744

Mastercars (Tempsford) Limited (Registered number: 07340773)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31/10/24 31/10/23
£    £   
Bank loans 322,872 316,786

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £2328 to the directors.

At the balance sheet the company was owed £62,017 (2023: £58,577) by Masterleisure (Tempsford) Ltd, a company under common control.

11. CONTROL

There is no controlling party.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Mastercars (Tempsford) Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Mastercars (Tempsford) Limited for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Mastercars (Tempsford) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mastercars (Tempsford) Limited and state those matters that we have agreed to state to the Board of Directors of Mastercars (Tempsford) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mastercars (Tempsford) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Mastercars (Tempsford) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Mastercars (Tempsford) Limited. You consider that Mastercars (Tempsford) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mastercars (Tempsford) Limited. 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 statutory financial statements.






Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE


23 May 2025