Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-319false2024-04-01false9trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00380170 2024-04-01 2025-03-31 00380170 2023-04-01 2024-03-31 00380170 2025-03-31 00380170 2024-03-31 00380170 c:Director2 2024-04-01 2025-03-31 00380170 d:PlantMachinery 2024-04-01 2025-03-31 00380170 d:PlantMachinery 2025-03-31 00380170 d:PlantMachinery 2024-03-31 00380170 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 00380170 d:FurnitureFittings 2024-04-01 2025-03-31 00380170 d:FurnitureFittings 2025-03-31 00380170 d:FurnitureFittings 2024-03-31 00380170 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 00380170 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 00380170 d:CurrentFinancialInstruments 2025-03-31 00380170 d:CurrentFinancialInstruments 2024-03-31 00380170 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 00380170 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00380170 d:ShareCapital 2025-03-31 00380170 d:ShareCapital 2024-03-31 00380170 d:SharePremium 2025-03-31 00380170 d:SharePremium 2024-03-31 00380170 d:CapitalRedemptionReserve 2025-03-31 00380170 d:CapitalRedemptionReserve 2024-03-31 00380170 d:RetainedEarningsAccumulatedLosses 2025-03-31 00380170 d:RetainedEarningsAccumulatedLosses 2024-03-31 00380170 c:FRS102 2024-04-01 2025-03-31 00380170 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 00380170 c:FullAccounts 2024-04-01 2025-03-31 00380170 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 00380170 d:WithinOneYear 2025-03-31 00380170 d:WithinOneYear 2024-03-31 00380170 d:BetweenOneFiveYears 2025-03-31 00380170 d:BetweenOneFiveYears 2024-03-31 00380170 d:MoreThanFiveYears 2025-03-31 00380170 d:MoreThanFiveYears 2024-03-31 00380170 2 2024-04-01 2025-03-31 00380170 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 00380170










T. MASTERS & SONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

 
T. MASTERS & SONS LIMITED
 

CONTENTS



Page
Balance Sheet
 
1
Notes to the Financial Statements
 
2 - 6


 
T. MASTERS & SONS LIMITED
REGISTERED NUMBER: 00380170

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,519
15,021

Current assets
  

Stocks
  
90,800
106,200

Debtors
 5 
461,026
451,418

Cash at bank and in hand
 6 
778,416
605,076

  
1,330,242
1,162,694

Creditors: amounts falling due within one year
 7 
(291,428)
(194,093)

Net current assets
  
 
 
1,038,814
 
 
968,601

Total assets less current liabilities
  
1,052,333
983,622

  

Net assets
  
1,052,333
983,622


Capital and reserves
  

Called up share capital 
  
17,468
17,468

Share premium account
  
183,658
183,658

Capital redemption reserve
  
7,984
7,984

Profit and loss account
  
843,223
774,512

  
1,052,333
983,622


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 July 2025.

S.A. White
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
T. MASTERS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

T. Masters & Sons Limited (the Company) is a private company, limited by shares, incorporated and domiciled in England. The address of the registered office and principal place of business is Salem Street, Great Bridge,Tipton, West Midlands DY4 7JH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presented in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
T. MASTERS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
reducing balance
Furniture, fittings and equipment
-
10%
reducing balance/33.3% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
T. MASTERS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.7

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.



3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2024 - 9).

Page 4

 
T. MASTERS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Plant and machinery
Furniture, fittings and equipment
Total

£
£
£



Cost


At 1 April 2024
30,994
15,123
46,117



At 31 March 2025

30,994
15,123
46,117



Depreciation


At 1 April 2024
20,445
10,651
31,096


Charge for the year
1,055
447
1,502



At 31 March 2025

21,500
11,098
32,598



Net book value



At 31 March 2025
9,494
4,025
13,519



At 31 March 2024
10,549
4,472
15,021

Page 5

 
T. MASTERS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

5.


Debtors

2025
2024
£
£


Trade debtors
227,611
239,209

Other debtors
216,500
208,963

Prepayments and accrued income
16,915
3,246

461,026
451,418



6.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
778,416
605,076



7.


Creditors: Amounts falling due within one year

2025
2024
£
£

Trade creditors
183,709
120,041

Corporation tax
24,835
4,062

Other taxation and social security
9,385
8,258

Other creditors
33,277
42,343

Accruals and deferred income
40,222
19,389

291,428
194,093



8.


Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
40,372
22,746

Later than 1 year and not later than 5 years
148,372
88,000

Later than 5 years
27,000
16,500

215,744
127,246

 
Page 6