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REGISTERED NUMBER: 11800346 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

MASTER REMOVERS GROUP 2019 LTD

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


MASTER REMOVERS GROUP 2019 LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: T Bloch
C A S Rickards
A Ward Thomas
I E R Wason
P J Donaldson
J C Bonsor





SECRETARY: J Kok





REGISTERED OFFICE: 141 Acton Lane
London
NW10 7PB





REGISTERED NUMBER: 11800346 (England and Wales)





AUDITORS: Fawcetts LLP
Chartered Accountants
and Statutory Auditors
Windover House
St. Ann Street
Salisbury
SP1 2DR

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024


The directors present their strategic report for the year ended 30 September 2024.

REVIEW OF BUSINESS
Until 5 February 2024 the company was the parent company of the Master Removers Group. On 6 February 2024 the company became a wholly owned subsidiary of Master Removers Group 2023 Ltd. The financial statements for the year ended 30 September 2024 are therefore for the company only, and not consolidated financial statements for the group.

The company is primarily a holding company however it does carry out a small amount of trade through the group's Green Man & Van brand .

The year ended 30 September 2024 saw global economic uncertainties and high interest rates meaning that the company was faced with a difficult trading environment. Despite the impact of these external factors, the company increased its turnover.


Key performance indicators


2024 2023
Turnover £279,109 £218,743
Gross profit % 81.5% 85.2%

Profit before tax % (excluding
dividends received)

(112.5%

)

(95.2%

)
Dividends received £12,221,440 £3,018,865
Dividends paid £4,171,440 £1,000,000


Health and safety, employees and environment
The company's operations aim to identify, assess and control occupational health hazards and, where practicable, to eliminate work related diseases. Every new case of an occupational disease is reported.

The directors believe that every work-related incident, illness and injury is preventable. Every new case of a work related injury is reported to the board, including outcomes of and corrective action resulting from regular Health and Safety inspections.

PRINCIPAL RISKS AND UNCERTAINTIES
The directors consider the main financial risks to the business as being the volatility in the commercial and residential property market resulting from interest rate movements. The company seeks to limit these business risks by offering on-site storage facilities to generate recurring income and by diversifying into other areas such as value added distribution services.


MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

EMPLOYEES
Arrangements exist to ensure employee involvement in matters of concern to them and also to provide employees with all relevant information.

It is the group's policy that people with disabilities should have the same consideration as others with respect to recruitment, retention and personal development. Depending on their skills and abilities, they enjoy the same career prospects as other employees and the same scope for realising potential.

ON BEHALF OF THE BOARD:





C A S Rickards - Director


8 August 2025

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


The directors present their report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a holding company.

DIVIDENDS
Interim dividends totalling £1,000,000 were paid on the Ordinary and A Ordinary shares during the year. The directors recommend that no final dividend be paid on either class of share.

The total distribution of dividends for the year ended 30 September 2024 will be £4,171,440.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

T Bloch
C A S Rickards
A Ward Thomas
I E R Wason

Other changes in directors holding office are as follows:

R M Henry - resigned 29 February 2024

P J Donaldson and J C Bonsor were appointed as directors after 30 September 2024 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Fawcetts LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C A S Rickards - Director


8 August 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MASTER REMOVERS GROUP 2019 LTD


Opinion
We have audited the financial statements of Master Removers Group 2019 Ltd (the 'company') for the year ended 30 September 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MASTER REMOVERS GROUP 2019 LTD


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MASTER REMOVERS GROUP 2019 LTD


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities and fraud
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations we consider the following:


-
the nature of the industry/sector in which the company and group operates, the control environment and
financial performance;

-
results of our enquiries of management about their own identification and assessment of the risk of
irregularities;
- any matters we identified having obtained and reviewed the group and company's documentation of their
policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected
or alleged fraud; and
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;.
- the matters discussed among the audit engagement team regarding how and where fraud might occur in the
financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following area: revenue and profit recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained an understanding of the legal and regulatory frameworks that the group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation.

Audit response to risk identified
As a result of performing the above, we identified revenue and profit recognition, estimation techniques and management override of controls as key matters related to the potential risk of fraud or material misstatement. Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance
with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud;
- understanding the entity's revenue recognition policies and how they are applied, including the relevant
controls and processes and performing a walk-through to validate our understanding;
- performing analytical procedures to compare revenue recognised against expectations, past results, and
management forecasts, and investigated material divergences by obtaining corroborative evidence;
- reading minutes of meetings of those charged with governance and reviewing any correspondence with
HMRC; and
-

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MASTER REMOVERS GROUP 2019 LTD

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Simon Ellingham BA FCA DChA (Senior Statutory Auditor)
for and on behalf of Fawcetts LLP
Chartered Accountants
and Statutory Auditors
Windover House
St. Ann Street
Salisbury
SP1 2DR

8 August 2025

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

INCOME STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £    £   

TURNOVER 279,109 218,743

Cost of sales 51,595 32,400
GROSS PROFIT 227,514 186,343

Administrative expenses 256,141 169,851
OPERATING (LOSS)/PROFIT 4 (28,627 ) 16,492

Exceptional items 5 283,075 2,346
(311,702 ) 14,146

Income from shares in group undertakings 12,221,440 3,018,865
Interest receivable and similar income 10 -
12,221,450 3,018,865
11,909,748 3,033,011

Interest payable and similar expenses 6 2,298 222,366
PROFIT BEFORE TAXATION 11,907,450 2,810,645

Tax on profit 7 - -
PROFIT FOR THE FINANCIAL YEAR 11,907,450 2,810,645

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 11,907,450 2,810,645


OTHER COMPREHENSIVE INCOME
Purchase of own shares - (42,576 )
Transfer to capital redemption reserve - 7,096
Income tax relating to components of other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME FOR THE
YEAR, NET OF INCOME TAX

-

(35,480

)
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

11,907,450

2,775,165

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 9 18,750 -
Tangible assets 10 66,610 75,267
Investments 11 36,655,083 36,655,083
36,740,443 36,730,350

CURRENT ASSETS
Debtors 12 5,088,193 48,399
Cash at bank 20,869 13,254
5,109,062 61,653
CREDITORS
Amounts falling due within one year 13 15,138,226 16,598,776
NET CURRENT LIABILITIES (10,029,164 ) (16,537,123 )
TOTAL ASSETS LESS CURRENT LIABILITIES 26,711,279 20,193,227

CREDITORS
Amounts falling due after more than one
year

14

345,884

4,284,242
NET ASSETS 26,365,395 15,908,985

CAPITAL AND RESERVES
Called up share capital 17 5,479,488 4,774,488
Share premium 18 12,942,547 10,927,147
Capital redemption reserve 18 81,951 81,951
Retained earnings 18 7,861,409 125,399
SHAREHOLDERS' FUNDS 26,365,395 15,908,985

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2025 and were signed on its behalf by:




C A S Rickards - Director



A Ward Thomas - Director


MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 October 2022 4,707,834 (1,642,670 ) 10,915,747 74,855 14,055,766

Changes in equity
Issue of share capital 66,654 - 11,400 - 78,054
Dividends - (1,000,000 ) - - (1,000,000 )
Total comprehensive income - 2,768,069 - 7,096 2,775,165
Balance at 30 September 2023 4,774,488 125,399 10,927,147 81,951 15,908,985

Changes in equity
Issue of share capital 705,000 - 2,015,400 - 2,720,400
Dividends - (4,171,440 ) - - (4,171,440 )
Total comprehensive income - 11,907,450 - - 11,907,450
Balance at 30 September 2024 5,479,488 7,861,409 12,942,547 81,951 26,365,395

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (6,648,245 ) 820,576
Interest paid - (222,366 )
Interest element of hire purchase payments
paid

(2,298

)

-
Net cash from operating activities (6,650,543 ) 598,210

Cash flows from investing activities
Purchase of intangible fixed assets (25,000 ) -
Purchase of tangible fixed assets (8,000 ) (83,634 )
Purchase of fixed asset investments (1,171,440 ) (1,869,851 )
Sale of fixed asset investments 1,171,440 -
Interest received 10 -
Dividends received 12,221,440 3,018,865
Net cash from investing activities 12,188,450 1,065,380

Cash flows from financing activities
Loan repayments in year (3,648,233 ) -
New hire purchase agreements in year 1,064,520 1,342,740
Capital repayments in year (1,495,539 ) (2,041,232 )
Share issue 2,720,400 85,150
Share buyback - (42,576 )
Equity dividends paid (4,171,440 ) (1,000,000 )
Net cash from financing activities (5,530,292 ) (1,655,918 )

Increase in cash and cash equivalents 7,615 7,672
Cash and cash equivalents at beginning of
year

2

13,254

5,582

Cash and cash equivalents at end of year 2 20,869 13,254

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 11,907,450 2,810,645
Depreciation charges 22,907 4,367
Loss on disposal of fixed assets - 4,000
Finance costs 2,298 222,366
Finance income (12,221,450 ) (3,018,865 )
(288,795 ) 22,513
(Increase)/decrease in trade and other debtors (5,039,794 ) 262,441
(Decrease)/increase in trade and other creditors (1,319,656 ) 535,622
Cash generated from operations (6,648,245 ) 820,576

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 20,869 13,254
Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 13,254 5,582


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank 13,254 7,615 20,869
13,254 7,615 20,869
Debt
Finance leases (1,056,546 ) 431,019 (625,527 )
Debts falling due after 1 year (3,648,233 ) 3,648,233 -
(4,704,779 ) 4,079,252 (625,527 )
Total (4,691,525 ) 4,086,867 (604,658 )

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Master Removers Group 2019 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Master Removers Group 2019 Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Master Removers Group 2023 Ltd, 141 Acton lane, London, NW10 7PB.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebate and value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments
The company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and loans to and from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at the present value of future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade creditors and debtors, are measured initially and subsequently, at the undiscounted amount of the cash, or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or, in the case of an outright short-term loan, not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

3. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 30 September 2024 nor for the year ended 30 September 2023.

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

2024 2023
£    £   
Directors' remuneration - -

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


4. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 16,657 4,367
Loss on disposal of fixed assets - 4,000
Goodwill amortisation 6,250 -
Auditors' remuneration 12,000 10,000

5. EXCEPTIONAL ITEMS
2024 2023
£    £   
Exceptional items (283,075 ) (2,346 )

The exceptional items include costs of £3,718,211 relating to professional fees and other costs relating to the group reconstruction, and income of £3,435,136 in respect of inter group loans written off as part of a group wide policy.

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Loan note interest - 222,366
Hire purchase 2,298 -
2,298 222,366

7. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30 September 2024 nor for the year ended 30 September 2023.

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 11,907,450 2,810,645
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

2,976,863

702,661

Effects of:
Income not taxable for tax purposes (3,914,144 ) (754,716 )
Capital allowances in excess of depreciation - (15,216 )
Depreciation in excess of capital allowances 3,727 -
Losses surrendered via group relief - 67,050
Losses carried forward 1,789,391 221
Enhanced deduction in respect of share options (855,837 ) -
Total tax charge - -

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 30 September 2024.

2023
Gross Tax Net
£    £    £   
Purchase of own shares (42,576 ) - (42,576 )
Transfer to capital redemption reserve 7,096 - 7,096
(35,480 ) - (35,480 )

8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 4,171,440 1,000,000

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 25,000
At 30 September 2024 25,000
AMORTISATION
Amortisation for year 6,250
At 30 September 2024 6,250
NET BOOK VALUE
At 30 September 2024 18,750

10. TANGIBLE FIXED ASSETS
Short Motor
leasehold vehicles Totals
£    £    £   
COST
At 1 October 2023 15,000 64,634 79,634
Additions - 8,000 8,000
At 30 September 2024 15,000 72,634 87,634
DEPRECIATION
At 1 October 2023 3,600 767 4,367
Charge for year 3,508 13,149 16,657
At 30 September 2024 7,108 13,916 21,024
NET BOOK VALUE
At 30 September 2024 7,892 58,718 66,610
At 30 September 2023 11,400 63,867 75,267

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


11. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023 36,655,083
Additions 1,171,440
Disposals (1,171,440 )
At 30 September 2024 36,655,083
NET BOOK VALUE
At 30 September 2024 36,655,083
At 30 September 2023 36,655,083

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Master Removers Group Limited
Registered office: 141 Acton Lane, London, NW10 7PB
Nature of business: Distribution, removals and storage
%
Class of shares: holding
Ordinary, Ordinary A, B and C 100.00
2024 2023
£    £   
Aggregate capital and reserves 19,389,114 10,902,091
Profit for the year 20,708,463 2,036,549

Gentleman & A Van Group Ltd
Registered office: 141 Acton Lane, London, NW10 7PB
Nature of business: Removals and storage
%
Class of shares: holding
A & B Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (175,294 ) (95,760 )
Loss for the year (79,534 ) (277,228 )

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


11. FIXED ASSET INVESTMENTS - continued

Burke & Wills Removals Limited
Registered office: 141 Acton Lane, London, NW10 7PB
Nature of business: Removals and storage
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 425,961 545,209
(Loss)/profit for the year (119,248 ) 165,260

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,190 3,850
Due from group companies 5,080,867 38,428
Prepayments 3,136 6,121
5,088,193 48,399

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 16) 279,643 420,537
Payments on account 644 -
Trade creditors 643 6,515
Amounts due to group companies 14,821,862 16,102,844
Social security and other taxes 1,246 (13,968 )
Accruals and deferred income 34,188 82,848
15,138,226 16,598,776

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other loans (see note 15) - 3,648,233
Hire purchase contracts (see note 16) 345,884 636,009
345,884 4,284,242

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Other loans more 5yrs non-inst - 3,648,233

16. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 279,643 420,537
Between one and five years 345,884 636,009
625,527 1,056,546

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3,207,834 Ordinary £1 3,979,488 3,274,488
1,500,000 A Ordinary £1 1,500,000 1,500,000
5,479,488 4,774,488

During the year the company issued 705,000 £1 Ordinary shares for a combined premium of £2,015,400.

18. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 October 2023 125,399 10,927,147 81,951 11,134,497
Profit for the year 11,907,450 11,907,450
Dividends (4,171,440 ) (4,171,440 )
Cash share issue - 2,015,400 - 2,015,400
At 30 September 2024 7,861,409 12,942,547 81,951 20,885,907

MASTER REMOVERS GROUP 2019 LTD (REGISTERED NUMBER: 11800346)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


19. ULTIMATE CONTROLLING PARTY

On 6 February 2024 the company became a wholly owned subsidiary of Master Removers Group 2023 Ltd.

In the opinion of the directors there is no ultimate controlling party of Master Removers Group 2023 Ltd.