Registration number: 13918614

Masters Saddles Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Masters Saddles Limited

Company Information

Director

Ms Julie Patricia Masters

Registered office

111-113 High St Evesham Worcestershire WR11 4XP

Accountants

Clement Rabjohns Limited Chartered Accountants111/113 High Street Evesham Worcestershire WR11 4XP

Masters Saddles Limited

(Registration number: 13918614)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	4,970	7,083
Current assets
Stocks	5	10,650	2,000
Debtors	6	1,670	457
Cash at bank and in hand		855	377
		13,175	2,834
Creditors: Amounts falling due within one year	7	(12,009)	(9,596)
Net current assets/(liabilities)		1,166	(6,762)
Total assets less current liabilities		6,136	321
Creditors: Amounts falling due after more than one year	7	(3,958)	-
Net assets		2,178	321
Capital and reserves
Called up share capital	8	100	100
Retained earnings		2,078	221
Shareholders' funds		2,178	321

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 September 2025
 

......................................... Ms Julie Patricia Masters Director

Masters Saddles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
111-113 High St
Evesham
Worcestershire
WR11 4XP
United Kingdom

The principal place of business is:
3 Maple Close
Evesham
Worcestershire
WR11 1YF
United Kingdom

These financial statements were authorised for issue by the director on 12 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Masters Saddles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% straight line
Plant and machinery	33.33% straight line
Office equipment	33.33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 1).

Masters Saddles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	500	200	17,000	17,700
Additions	729	2,476	-	3,205
At 31 March 2025	1,229	2,676	17,000	20,905
Depreciation
At 1 April 2024	500	200	9,917	10,617
Charge for the year	243	825	4,250	5,318
At 31 March 2025	743	1,025	14,167	15,935
Carrying amount
At 31 March 2025	486	1,651	2,833	4,970
At 31 March 2024	-	-	7,083	7,083

5

Stocks

	2025 £	2024 £
Other inventories	10,650	2,000

6

Debtors

Current	2025 £	2024 £
Trade debtors	300	215
Other debtors	1,370	242
	1,670	457

Masters Saddles Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	4,750	-
Taxation and social security		3,993	2,294
Accruals and deferred income		1,200	1,200
Other creditors		2,066	6,102
		12,009	9,596

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	3,958	-

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	3,958	-

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	4,750	-