| MASROC Properties Limited |
| Financial Statements for the Year Ended 30 November 2024 |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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. |
| Chartered Accountants |
| MASROC Properties Limited (Registered number: 11668289) |
| Balance Sheet |
| 30 November 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR DEFERRED TAX | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| MASROC Properties Limited (Registered number: 11668289) |
| Balance Sheet - continued |
| 30 November 2024 |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| 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 |
| Computer equipment | - |
| 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 |
| 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 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 December 2023 |
| and 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| 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 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Other creditors & accruals |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |