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REGISTERED NUMBER: 03107963 (England and Wales)















Financial Statements

for the Year Ended 31 December 2024

for

MasterControl Global Limited

MasterControl Global Limited (Registered number: 03107963)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MasterControl Global Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: R Beckstrand
J Beckstrand
M N Newman





REGISTERED OFFICE: 2nd Floor
North Wing Matrix House
Basing View
Basingstoke
Hampsire
RG21 4DZ





REGISTERED NUMBER: 03107963 (England and Wales)





AUDITORS: WP Audit Services LLP
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

MasterControl Global Limited (Registered number: 03107963)

Statement of Financial Position
31 December 2024

31/12/24 31/12/23
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 8,412 38,563

CURRENT ASSETS
Debtors 6 2,874,694 2,496,345
Cash at bank and in hand 776,836 866,811
3,651,530 3,363,156
CREDITORS
Amounts falling due within one year 7 (608,600 ) (682,390 )
NET CURRENT ASSETS 3,042,930 2,680,766
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,051,342

2,719,329

PROVISIONS FOR LIABILITIES (2,428 ) (9,360 )
NET ASSETS 3,048,914 2,709,969

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,048,814 2,709,869
SHAREHOLDERS' FUNDS 3,048,914 2,709,969

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by:





M N Newman - Director


MasterControl Global Limited (Registered number: 03107963)

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

1. STATUTORY INFORMATION

MasterControl Global 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 (£).


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
Revenue 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
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation of each asset to its estimated residual value on a straight line basis over its expected useful life, as follows:-

Short leasehold - over 5 years
Fixtures and fittings - over 7 years
Computer equipment - over 3 years

Residual value is calculated on prices prevailing at the reporting date, after estimated costs of disposal, for the asset as if it were at the age and in the condition expected at the end of its useful life.

Impairment of fixed assets
Fixed assets are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable or as otherwise required by relevant accounting standards.

Shortfalls between the carrying value of fixed assets and their recoverable amounts, being the higher of net realisable value and value-in-use, are recognised as impairments. Impairment losses are recognised in the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


MasterControl Global Limited (Registered number: 03107963)

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

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Transactions in currencies other than the functional currency (foreign currencies) are initially recorded at the exchange rate prevailing on the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the reporting date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

All translation differences are taken to profit or loss, except to the extent that they relate to gains or losses on non-monetary items recognised in other comprehensive income.

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.

For defined contribution schemes the amount charged to the profit and loss account in respect of pension costs and other post retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense in the period in which these are incurred.

Where employees have unused holiday at the balance sheet date to carry forward into the next period, the cost of this holiday pay is accrued for in the balance sheet and charged to the profit or loss in the period to which the holiday entitlement relates.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2023 - 65 ) .

MasterControl Global Limited (Registered number: 03107963)

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

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
Cost
At 1 January 2024 184,572 58,449 321,050 564,071
Disposals - (18,034 ) (129,730 ) (147,764 )
At 31 December 2024 184,572 40,415 191,320 416,307
Depreciation
At 1 January 2024 184,572 50,330 290,606 525,508
Charge for year - 3,871 26,998 30,869
Eliminated on disposal - (18,034 ) (130,448 ) (148,482 )
At 31 December 2024 184,572 36,167 187,156 407,895
Net book value
At 31 December 2024 - 4,248 4,164 8,412
At 31 December 2023 - 8,119 30,444 38,563

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Amounts owed by group undertakings 2,518,151 2,028,992
Other debtors 135,917 130,861
VAT 40,873 42,735
Prepayments and accrued income 179,753 293,757
2,874,694 2,496,345

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors 67,818 61,397
Tax 53,489 7,912
Social security and other taxes 14,249 59,335
Other creditors 80,840 46,082
Accrued expenses 392,204 507,664
608,600 682,390

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/24 31/12/23
£    £   
Within one year 254,277 254,277
Between one and five years 317,846 572,123
572,123 826,400

MasterControl Global Limited (Registered number: 03107963)

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

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

The Report of the Auditors was unqualified.

Andrew Carpenter (Senior Statutory Auditor)
for and on behalf of WP Audit Services LLP

10. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of MasterControl Solutions, Inc., a company registered in the state of Delaware in the United States of America. The company's principal place of business address is 6350 South 3000 East, Salt Lake City, Utah 84121.

The company is ultimately controlled by its board of directors.