Company registration number 10401730 (England and Wales)
MASONS HPS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MASONS HPS LIMITED
COMPANY INFORMATION
Director
Mr JR Mason
Company number
10401730
Registered office
C/O Xeinadin First Floor Secure House
Lulworth Close
Chandler's Ford
Southampton
Hampshire
England
SO53 3TL
Accountants
Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
United Kingdom
ME10 5BH
MASONS HPS LIMITED
CONTENTS
Page
Director's report
1
Accountants' report
2
Balance sheet
3 - 4
Notes to the financial statements
5 - 7
MASONS HPS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -
The director presents his annual report and financial statements for the year ended 30 September 2024.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr JR Mason
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr JR Mason
Director
30 June 2025
MASONS HPS LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF MASONS HPS LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Masons HPS Limited for the year ended 30 September 2024 which comprise, the 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 at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Masons HPS Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Masons HPS Limited and state those matters that we have agreed to state to the board of directors of Masons HPS Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Masons HPS Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Masons HPS 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 Masons HPS Limited. You consider that Masons HPS 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 Masons HPS 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.
Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH
United Kingdom
30 June 2025
MASONS HPS LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,641
9,202
Current assets
Stocks
5,000
3,000
Debtors
4
5,085
1,243
Cash at bank and in hand
4,022
348
14,107
4,591
Creditors: amounts falling due within one year
5
(18,055)
(28,180)
Net current liabilities
(3,948)
(23,589)
Total assets less current liabilities
4,693
(14,387)
Creditors: amounts falling due after more than one year
6
(3,050)
(7,667)
Provisions for liabilities
(1,642)
(1,705)
Net assets/(liabilities)
1
(23,759)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(23,760)
Total equity
1
(23,759)
MASONS HPS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 4 -
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 30 June 2025
Mr JR Mason
Director
Company registration number 10401730 (England and Wales)
MASONS HPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
1
Accounting policies
Company information
Masons HPS Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Xeinadin First Floor Secure House, Lulworth Close, Chandler's Ford, Southampton, Hampshire, England, SO53 3TL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.
1.3
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 recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on reducing balance
Computers
33% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.5
Financial instruments
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period, financial instruments are assessed for evidence of impairment and changes are recognised in the Statement of Income and Retained Earnings.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
MASONS HPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 6 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Leases
As lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
MASONS HPS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2023
3,325
420
11,000
14,745
Additions
1,580
1,580
Business combinations
1,000
1,000
At 30 September 2024
4,325
2,000
11,000
17,325
Depreciation and impairment
At 1 October 2023
2,654
139
2,750
5,543
Depreciation charged in the year
418
660
2,063
3,141
At 30 September 2024
3,072
799
4,813
8,684
Carrying amount
At 30 September 2024
1,253
1,201
6,187
8,641
At 30 September 2023
671
281
8,250
9,202
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,682
Other debtors
2,403
1,243
5,085
1,243
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
4,600
4,600
Trade creditors
1,012
568
Taxation and social security
10,528
9,548
Other creditors
1,915
13,464
18,055
28,180
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,050
7,667