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Registered Number: 04928040
England and Wales

 

 

 

MASTERGUILD LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

MASTERGUILD LIMITED
Contents Page
For the year ended 31 December 2024
Report to the directors on the preparation of the unaudited statutory accounts of MASTERGUILD LIMITED for the year ended 31 December 2024.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MASTERGUILD LIMITED for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/.
This report is made solely to the Board of Directors of MASTERGUILD LIMITED, as a body, in accordance with the terms of our engagement letter dated 29 September 2025. Our work has been undertaken solely to prepare for your approval the accounts of MASTERGUILD LIMITED and state those matters that we have agreed to state to the Board of Directors of MASTERGUILD LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than MASTERGUILD LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that MASTERGUILD LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of MASTERGUILD LIMITED. You consider that MASTERGUILD 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 accounts of MASTERGUILD 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 accounts
31 December 2024.



....................................................

SNP Plus Ltd
Accountants and Tax Advisors
284 Station Road
Harrow, London
HA1 2EA
29 September 2025
1
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 2,819,126    2,750,381 
2,819,126    2,750,381 
Current assets      
Debtors 37,919    30,575 
Cash at bank and in hand 112,717    18,397 
150,636    48,972 
Creditors: amount falling due within one year (584,519)   (534,960)
Net current assets (433,883)   (485,988)
 
Total assets less current liabilities 2,385,243    2,264,393 
Creditors: amount falling due after more than one year (157,296)   (149,248)
Accruals and deferred income (45,105)   (41,555)
Provisions for liabilities (159,580)   (142,180)
Net assets 2,023,262    1,931,410 
 

Capital and reserves 		     
Called up share capital 4 8    8 
Revaluation Reserves 747,814    747,814 
Profit and loss account 1,275,440    1,183,588 
Shareholders' funds 2,023,262    1,931,410 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 29 September 2025 and were signed on its behalf by:


-------------------------------
Riaz Zulfikar Virani
Director
2
General Information
MASTERGUILD LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04928040, registration address 464 UXBRIDGE ROAD, HAYES, ENGLAND, UB4 0SD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Motor Vehicles 20% Straight Line
Computer Equipment 20% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
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.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Investment properties   Total
  £   £   £   £   £
At 01 January 2024 33,296    -    952    2,750,000    2,784,248 
Additions -    70,104    -    -    70,104 
Disposals -    -    -    -    - 
At 31 December 2024 33,296    70,104    952    2,750,000    2,854,352 
Depreciation
At 01 January 2024 33,296    -    571    -    33,867 
Charge for year -    1,168    191    -    1,359 
On disposals -    -    -    -    - 
At 31 December 2024 33,296    1,168    762    -    35,226 
Net book values
Closing balance as at 31 December 2024 -    68,936    190    2,750,000    2,819,126 
Opening balance as at 01 January 2024 -    -    381    2,750,000    2,750,381 

Investment Property
The historical costs of the Investment Property is £1,683,326.00.  The director thinks the current market value of the Investment Property as on 31st December 2024 will not be materially more than the carrying value of £2,750,000.00.

4.

Share Capital

Allotted, called up and fully paid
2024
£		   2023
£
8 Class A shares of £1.00 each 8    8 
8    8 

3