Company No:
Contents
| DIRECTORS | D L Mason OBE |
| C E Mason | |
| M G C Halliwell Esq | |
| D M Mason Esq | |
| S Palmer (Appointed 09 January 2024) |
| SECRETARY | D M Mason Esq |
| REGISTERED OFFICE | 22 Chancery Lane |
| London | |
| WC2A 1LS | |
| United Kingdom |
| COMPANY NUMBER | 00651966 (England and Wales) |
| CHARTERED ACCOUNTANTS | Dixon Wilson |
| 22 Chancery Lane | |
| London | |
| WC2A 1LS |
| BANKERS | Coutts & Co |
| 440 Strand | |
| London | |
| WC2R 0QS |
| Citibank | |
| Park Avenue | |
| New York | |
| NY10022 |
| SOLICITORS | Kingsley Napley |
| Knights Quarter | |
| 14 John's Lane | |
| London | |
| EC1M 4AJ |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investments | 4 |
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| 967,849 | 917,569 | |||
| Current assets | ||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| 11,400,818 | 11,325,127 | |||
| Creditors: amounts falling due within one year | 7 | (
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| Net current assets | 8,635,425 | 8,478,330 | ||
| Total assets less current liabilities | 9,603,274 | 9,395,899 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital |
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| Capital redemption reserve |
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| Profit and loss account |
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of MacConnal-Mason & Son Limited (registered number:
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D L Mason OBE
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
The company is a private company limited by share capital incorporated in England & Wales.
The address of its registered office is:
22 Chancery Lane
London
WC2A 1LS
The principal place of business is:
14 & 17 Duke Street St James'
London
SW1Y 6DB
These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. As the parent of a small group the company is exempt from the requirement to prepare group accounts.
The financial statements have been prepared under the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
After reviewing the company’s forecast cash flows over the next 12 months, the directors are satisified that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Income from the provision of related services is recognised in the period in which the services are provided.
| Land and buildings | not depreciated |
| Vehicles |
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| Fixtures and fittings |
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| Computer equipment |
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The company's stocks consist of works of art, the values of which are subjective. Refer to the accounting policies for stock as to valuation methodology. The carrying amount is £2,410,163 (2023 - £2,835,780).
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income. All current tax relates to amounts recognised in profit and loss.
Provision is made for deferred tax assets and liabilities in respect of non-trivial timing differences arising from the different treatment of items for accounting and taxation without discounting. Deferred tax assets are recognised to the extent to which they are recoverable on the balance of probabilities.
Investments in subsidiaries are measured at cost less provision for impairment.
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. All trade debtors are short term. Provisions for impairment are made when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. Trade creditors are recognised initially at the transaction price and non-demand amounts are subsequently measured at amortised cost using the effective interest method.
All borrowings are interest free, payable on demand, and measured at the transaction price and recognised as current liabilities.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the company during the year, including directors |
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| Land and buildings | Vehicles | Fixtures and fittings | Computer equipment | Total | |||||
| £ | £ | £ | £ | £ | |||||
| Cost | |||||||||
| At 01 October 2023 |
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| Additions |
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| Disposals |
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| At 30 September 2024 |
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| Accumulated depreciation | |||||||||
| At 01 October 2023 |
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| Charge for the financial year |
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| Disposals |
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| At 30 September 2024 |
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| Net book value | |||||||||
| At 30 September 2024 |
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| At 30 September 2023 |
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The company occupies rent free a property owned by a subsidiary.
Investments in subsidiaries
| 2024 | |
| £ | |
| Cost | |
| At 01 October 2023 |
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| At 30 September 2024 |
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| Carrying value at 30 September 2024 |
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| Carrying value at 30 September 2023 |
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Investments in shares
| Name of entity | Registered office | Principal activity | Class of shares |
Ownership 30.09.2024 |
Ownership 30.09.2023 |
Held |
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22 Chancery Lane, London WC2A 1LS | Dormant |
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Direct |
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22 Chancery Lane, London WC2A 1LS | Dormant |
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Direct |
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22 Chancery Lane, London WC2A 1LS | Dormant |
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Direct |
| 2024 | 2023 | ||
| £ | £ | ||
| Stocks |
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| 2024 | 2023 | ||
| £ | £ | ||
| Other debtors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Amounts owed to group undertakings |
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| Taxation and social security |
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| Other creditors |
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