Company Registration No. 12227024 (England and Wales)
Mason & Co Property Consultants Limited
Unaudited financial statements
for the year ended 31 March 2025
Pages for filing with the registrar
Mason & Co Property Consultants Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
Mason & Co Property Consultants Limited
Statement of financial position
As at 31 March 2025
31 March 2025
1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,399,343
1,468,314
Current assets
Debtors
4
75,460
56,791
Cash at bank and in hand
3,347
3,739
78,807
60,530
Creditors: amounts falling due within one year
5
(389,924)
(359,112)
Net current liabilities
(311,117)
(298,582)
Total assets less current liabilities
1,088,226
1,169,732
Creditors: amounts falling due after more than one year
6
(883,461)
(883,515)
Provisions for liabilities
(11,784)
(12,524)
Net assets
192,981
273,693
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
192,881
273,593
Total equity
192,981
273,693

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Mason & Co Property Consultants Limited
Statement of financial position (continued)
As at 31 March 2025
31 March 2025
2
The financial statements were approved by the board of directors and authorised for issue on 29 August 2025 and are signed on its behalf by:
John Mason
Nadia Mason
Director
Director
Company Registration No. 12227024
Mason & Co Property Consultants Limited
Notes to the financial statements
For the year ended 31 March 2025
3
1
Accounting policies
Company information

Mason & Co Property Consultants Limited is a private company limited by shares incorporated in England and Wales. The registered office is Midland House, 2 Poole Road, Bournemouth, Dorset, BH2 5QY.

1.1
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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided for a furnished holiday let, and is shown net of sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
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.

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:

Freehold land and buildings
2% Straight-line
Fixtures and fittings
20% Straight-line
Computers
33% Straight-line

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.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

Mason & Co Property Consultants Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
4

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
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.

1.6
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 statement of financial position 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, 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.

Mason & Co Property Consultants Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies (continued)
5
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 paymen ts 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. A m ounts 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.

1.7
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.

1.8
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 income statement 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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Mason & Co Property Consultants Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
6
2
Employees

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

2025
2024
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
Plant and Machinery etc
Total
£
£
£
Cost
At 1 April 2024 and 31 March 2025
1,462,296
203,805
1,666,101
Depreciation and impairment
At 1 April 2024
82,537
115,250
197,787
Depreciation charged in the year
29,246
39,725
68,971
At 31 March 2025
111,783
154,975
266,758
Carrying amount
At 31 March 2025
1,350,513
48,830
1,399,343
At 31 March 2024
1,379,759
88,555
1,468,314
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,730
1,722
Other debtors
2,604
2,226
4,334
3,948
Deferred tax asset
71,126
52,843
75,460
56,791
Mason & Co Property Consultants Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
7
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,765
-
0
Other creditors
388,159
359,112
389,924
359,112
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
883,461
883,515
Creditors which fall due after five years are as follows:
2025
2024
£
£
Payable by instalments
(883,461)
(883,515)

The bank loan contains a negative pledge and is secured against the property inclusive of all improvements and additions in which they relate.

The bank loan term is 15 years. The first 5 years term is on an interest only basis at a rate of 3.85%. Following this 5 year period, repayments will be made for both capital and interest over the remaining 10 year term.

The bank loan has subsequently been settled in May 2025 on sale of the property as explained in note 8.

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A £1 Shares of £1 each
80
80
80
80
Ordinary B £1 Shares of £1 each
20
20
20
20
100
100
100
100

The Ordinary A shares have attached to them full voting, dividend and capital distribution rights (including on winding up). They do not confer any rights of redemption.

The Ordinary B shares have attached to them full voting, dividend and capital distribution rights (including on winding up). They do not confer any rights of redemption.

Mason & Co Property Consultants Limited
Notes to the financial statements (continued)
For the year ended 31 March 2025
8
8
Events after the reporting date

In May 2025, the property held within freehold property on the balance sheet was sold for £1.73m. The disposal will be recognised in the 31 March 2026 accounts.

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