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MASROC Properties Limited

Financial Statements for the Year Ended 30 November 2024






MASROC Properties Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: V Coles
R Coles





REGISTERED OFFICE: Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA





REGISTERED NUMBER: 11668289 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
MASROC Properties Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of MASROC Properties Limited for the year ended 30 November 2024 which comprise the Profit & Loss Account, 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 within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the Board of Directors of MASROC Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of MASROC Properties Limited and state those matters that we have agreed to state to the Board of Directors of MASROC Properties Limited, as a body, in this report in accordance with icaew/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MASROC Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that MASROC Properties 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 MASROC Properties Limited. You consider that MASROC Properties 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 MASROC Properties 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.






BPU Limited
Chartered Accountants


14 July 2025

MASROC Properties Limited (Registered number: 11668289)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 104 318
Investment property 4 800,000 800,000
800,104 800,318

CURRENT ASSETS
Debtors 5 5,362 -
Cash at bank 359 2,652
5,721 2,652
CREDITORS
Amounts falling due within one year 6 575,172 576,649
NET CURRENT LIABILITIES (569,451 ) (573,997 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

230,653

226,321

CREDITORS
Amounts falling due after more than
one year

7

(1,345

)

(2,690

)

PROVISIONS FOR DEFERRED TAX (55,700 ) (54,000 )
NET ASSETS 173,608 169,631

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 173,508 169,531
SHAREHOLDERS' FUNDS 173,608 169,631

MASROC Properties Limited (Registered number: 11668289)

Balance Sheet - continued
30 November 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2025 and were signed on its behalf by:





R Coles - Director


MASROC Properties Limited (Registered number: 11668289)

Notes to the Financial Statements
for the Year Ended 30 November 2024


1. 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 as modified by the revaluation of certain assets.

Turnover
Turnover 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% straight line

Investment property
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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Pension costs
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MASROC Properties Limited (Registered number: 11668289)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


3. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 December 2023
and 30 November 2024 1,072
DEPRECIATION
At 1 December 2023 754
Charge for year 214
At 30 November 2024 968
NET BOOK VALUE
At 30 November 2024 104
At 30 November 2023 318

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023
and 30 November 2024 800,000
NET BOOK VALUE
At 30 November 2024 800,000
At 30 November 2023 800,000

The properties have been reassessed at an open market value by the directors with the assistance of their professional advisors. The valuation is deemed reasonable as at 30 November 2024.

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2021 174,857
Valuation in 2022 170,816
Valuation in 2023 75,000
Cost 379,327
800,000

MASROC Properties Limited (Registered number: 11668289)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors & prepayments 5,362 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,345 1,345
Other creditors & accruals 573,827 575,304
575,172 576,649

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 1,345 2,690