Company registration number 01746484 (England and Wales)
MASCOL PRODUCTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
4 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
One Bell Lane
Lewes
East Sussex
BN7 1JU
MASCOL PRODUCTIONS LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
MASCOL PRODUCTIONS LTD
COMPANY INFORMATION
- 1 -
Directors
Mrs D A Cole
Ms E Evans
(Appointed 4 April 2025)
Mr N Evans
(Appointed 4 April 2025)
Company number
01746484
Registered office
Lower Hoddern Farm
Glynn Road
Peacehaven
East Sussex
BN10 8AP
Accountants
TC Group
One Bell Lane
Lewes
East Sussex
BN7 1JU
Bankers
Barclays Bank
90-96 Clarendon Park Road
Stoneygate
Leicester
LE2 3AE
MASCOL PRODUCTIONS LTD
BALANCE SHEET
AS AT
4 APRIL 2025
04 April 2025
- 2 -
4 April 2025
31 October 2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
0
566
Tangible assets
4
54,025
84,670
54,025
85,236
Current assets
Debtors
5
359,271
95,257
Cash at bank and in hand
123,046
138,244
482,317
233,501
Creditors: amounts falling due within one year
6
(107,370)
(79,392)
Net current assets
374,947
154,109
Total assets less current liabilities
428,972
239,345
Creditors: amounts falling due after more than one year
7
(160,521)
-
0
Provisions for liabilities
(12,088)
(18,231)
Net assets
256,363
221,114
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
256,263
221,014
Total equity
256,363
221,114
MASCOL PRODUCTIONS LTD
BALANCE SHEET (CONTINUED)
AS AT
4 APRIL 2025
04 April 2025
- 3 -

For the financial period ended 4 April 2025 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 period in question in accordance with section 476.

The directors acknowledge their 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 21 July 2025 and are signed on its behalf by:
Mrs D A Cole
Director
Company registration number 01746484 (England and Wales)
MASCOL PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 4 APRIL 2025
- 4 -
1
Accounting policies
Company information

Mascol Productions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Lower Hoddern Farm, Glynn Road, Peacehaven, East Sussex, BN10 8AP.

1.1
Reporting period

The financial statements cover the 17 month period from 1 November 2023 to 6 April 2025. The period was extended due to a management buyout in April 2025 and therefore the comparative amounts presented in the financial statements (including related notes) are not entirely comparable.

1.2
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. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Software
33% straight line
1.5
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.

MASCOL PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 4 APRIL 2025
1
Accounting policies
(Continued)
- 5 -

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:

Leasehold land and buildings
Not depreciated
Plant and equipment
25% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

MASCOL PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 4 APRIL 2025
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

MASCOL PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 4 APRIL 2025
1
Accounting policies
(Continued)
- 7 -
1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2023
Number
Number
Total
6
5
3
Intangible fixed assets
Software
£
Cost
At 1 November 2023 and 4 April 2025
1,700
Amortisation and impairment
At 1 November 2023
1,134
Amortisation charged for the period
566
At 4 April 2025
1,700
Carrying amount
At 4 April 2025
-
0
At 31 October 2023
566
MASCOL PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 4 APRIL 2025
- 8 -
4
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2023
13,122
391,948
11,687
129,793
546,550
Additions
-
0
15,803
-
0
-
0
15,803
Disposals
(13,122)
(7,666)
(11,687)
(26,061)
(58,536)
At 4 April 2025
-
0
400,085
-
0
103,732
503,817
Depreciation and impairment
At 1 November 2023
-
0
344,322
10,489
107,069
461,880
Depreciation charged in the period
-
0
14,062
-
0
3,962
18,024
Eliminated in respect of disposals
-
0
(437)
(10,489)
(19,186)
(30,112)
At 4 April 2025
-
0
357,947
-
0
91,845
449,792
Carrying amount
At 4 April 2025
-
0
42,138
-
0
11,887
54,025
At 31 October 2023
13,122
47,626
1,198
22,724
84,670
5
Debtors
2025
2023
Amounts falling due within one year:
£
£
Trade debtors
18,762
72,012
Amounts owed by group undertakings
231,642
-
0
Other debtors
108,867
23,245
359,271
95,257
MASCOL PRODUCTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 4 APRIL 2025
- 9 -
6
Creditors: amounts falling due within one year
2025
2023
£
£
Bank loans
23,228
-
0
Trade creditors
45,481
3,544
Corporation tax
13,984
27,498
Other taxation and social security
5,091
29,659
Other creditors
19,586
18,691
107,370
79,392

The bank loan is secured on the assets of the company.

7
Creditors: amounts falling due after more than one year
2025
2023
£
£
Bank loans and overdrafts
160,521
-
0
8
Called up share capital
2025
2023
2025
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
80
80
80
80
Ordinary B shares of £1 each
20
20
20
20
100
100
100
100
9
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2023
£
£
152,133
12,300
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