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REGISTERED NUMBER: 06522937 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31st January 2025

for

MASTERSFULLER LIMITED

MASTERSFULLER LIMITED (REGISTERED NUMBER: 06522937)






Contents of the Financial Statements
for the Year Ended 31st January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MASTERSFULLER LIMITED

Company Information
for the Year Ended 31st January 2025







DIRECTORS: P M Smith
I M Walker





SECRETARY: P M Smith





REGISTERED OFFICE: 38 Salisbury Road
Worthing
West Sussex
BN11 1RD





REGISTERED NUMBER: 06522937 (England and Wales)






MASTERSFULLER LIMITED (REGISTERED NUMBER: 06522937)

Balance Sheet
31st January 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 4,853
Tangible assets 5 13,172 378
13,172 5,231

CURRENT ASSETS
Stocks and work in progress 6 30,700 30,700
Debtors 7 352,802 332,676
Cash at bank 52,775 34,092
436,277 397,468
CREDITORS
Amounts falling due within one year 8 161,145 166,498
NET CURRENT ASSETS 275,132 230,970
TOTAL ASSETS LESS CURRENT
LIABILITIES

288,304

236,201

CAPITAL AND RESERVES
Called up share capital 995 995
Capital redemption reserve 6 6
Retained earnings 287,303 235,200
SHAREHOLDERS' FUNDS 288,304 236,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2025 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.

MASTERSFULLER LIMITED (REGISTERED NUMBER: 06522937)

Balance Sheet - continued
31st January 2025


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 30th June 2025 and were signed on its behalf by:





I M Walker - Director


MASTERSFULLER LIMITED (REGISTERED NUMBER: 06522937)

Notes to the Financial Statements
for the Year Ended 31st January 2025

1. STATUTORY INFORMATION

Mastersfuller 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

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of two businesses in 2008, is being amortised evenly over its estimated useful life of twenty years.

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 each asset over its estimated useful life.
Short leasehold - 20% on cost
Office equipment - 10% on cost
Computer equipment - 33% on cost

Stocks & work in progress
Stocks are valued at the lower of cost or net realisable value.

Where the stage of completion is sufficient to give a right to consideration, work in progress is valued at the fair value of this right to consideration.

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.

MASTERSFULLER LIMITED (REGISTERED NUMBER: 06522937)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2025

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 year was 10 (2024 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st February 2024
and 31st January 2025 874,659
AMORTISATION
At 1st February 2024 869,806
Amortisation for year 4,853
At 31st January 2025 874,659
NET BOOK VALUE
At 31st January 2025 -
At 31st January 2024 4,853

5. TANGIBLE FIXED ASSETS
Short Office Computer
leasehold equipment equipment Totals
£    £    £    £   
COST
At 1st February 2024 2,000 17,339 11,714 31,053
Additions - - 13,090 13,090
Disposals - - (11,714 ) (11,714 )
At 31st January 2025 2,000 17,339 13,090 32,429
DEPRECIATION
At 1st February 2024 2,000 16,961 11,714 30,675
Charge for year - 296 - 296
Eliminated on disposal - - (11,714 ) (11,714 )
At 31st January 2025 2,000 17,257 - 19,257
NET BOOK VALUE
At 31st January 2025 - 82 13,090 13,172
At 31st January 2024 - 378 - 378

MASTERSFULLER LIMITED (REGISTERED NUMBER: 06522937)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2025

6. STOCKS AND WORK IN PROGRESS
2025 2024
£    £   
Stocks 700 700
Work in progress 30,000 30,000
30,700 30,700

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 130,581 114,742
Loan account 203,847 203,847
Prepayments 18,374 14,087
352,802 332,676

The loan account is owed by the parent company, Smith & Walker Limited.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loan and overdraft 11,167 19,289
Corporation tax reserve 65,087 38,320
PAYE & NIC control 10,752 6,011
VAT 62,363 66,716
Other creditors 8,714 12,187
Directors' loan accounts 376 22,419
Accrued expenses 2,686 1,556
161,145 166,498