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Registered number: 04845518
Mastered Consultants Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 04845518
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 5,889 7,501
Investment Properties 5 1,555,000 1,555,000
Investments 6 - 20,284
1,560,889 1,582,785
CURRENT ASSETS
Debtors 1,502 3,946
Cash at bank and in hand 10,304 6,815
11,806 10,761
Creditors: Amounts Falling Due Within One Year 7 (19,448 ) (19,250 )
NET CURRENT ASSETS (LIABILITIES) (7,642 ) (8,489 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,553,247 1,574,296
Creditors: Amounts Falling Due After More Than One Year (525,550 ) (530,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (147,782 ) (147,712 )
NET ASSETS 879,915 896,584
CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 9 625,247 625,247
Profit and Loss Account 254,667 271,336
SHAREHOLDERS' FUNDS 879,915 896,584
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 August 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
M Earls
Director
25th March 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Mastered Consultants 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. Accounting Policies
2.1. Basis of Preparation of 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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & Fittings 20% reducing balance
Computer Equipment 20% reducing balance
2.4. Investment Properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Total
£
Cost
As at 1 September 2023 47,833
As at 31 August 2024 47,833
Depreciation
As at 1 September 2023 40,332
Provided during the period 1,612
As at 31 August 2024 41,944
...CONTINUED
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Page 4
Net Book Value
As at 31 August 2024 5,889
As at 1 September 2023 7,501
5. Investment Property
2024
£
Fair Value
As at 1 September 2023 and 31 August 2024 1,555,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 783,099 783,099
6. Investments
Total
£
Cost
As at 1 September 2023 20,284
Disposals (20,284 )
As at 31 August 2024 -
Provision
As at 1 September 2023 -
As at 31 August 2024 -
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 20,284
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 19,448 17,543
Taxation and social security - 1,707
19,448 19,250
8. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 September 2023 147,712 147,712
Deferred taxation 70 70
Balance at 31 August 2024 147,782 147,782
Page 4
Page 5
9. Reserves
Fair Value Reserve
£
As at 1 September 2023 625,247
As at 31 August 2024 625,247
10. Related Party Transactions
During the year, total dividends of £1,500 (2023 - £1,000) were paid to the director.
11. Ultimate Controlling Party
The controlling party is M A Earls.
Page 5