Acorah Software Products - Accounts Production 16.5.460 false true 31 March 2024 1 April 2023 true No description of principal activity 1 April 2024 31 March 2025 31 March 2025 08842515 Mr Lee Mason Mrs Joanne Mason Mr Riley Mason iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08842515 2024-03-31 08842515 2025-03-31 08842515 2024-04-01 2025-03-31 08842515 frs-core:CurrentFinancialInstruments 2025-03-31 08842515 frs-core:Non-currentFinancialInstruments 2025-03-31 08842515 frs-core:MotorVehicles 2025-03-31 08842515 frs-core:MotorVehicles 2024-04-01 2025-03-31 08842515 frs-core:MotorVehicles 2024-03-31 08842515 frs-core:ShareCapital 2025-03-31 08842515 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 08842515 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 08842515 frs-bus:FullAccounts 2024-04-01 2025-03-31 08842515 frs-bus:SmallEntities 2024-04-01 2025-03-31 08842515 frs-bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 08842515 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 08842515 frs-bus:SmallCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 08842515 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-04-01 2025-03-31 08842515 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2025-03-31 08842515 frs-bus:Director1 2024-04-01 2025-03-31 08842515 frs-bus:Director2 2024-04-01 2025-03-31 08842515 frs-bus:Director3 2024-04-01 2025-03-31 08842515 frs-bus:Director3 2025-03-31 08842515 frs-countries:EnglandWales 2024-04-01 2025-03-31 08842515 2023-03-31 08842515 2024-03-31 08842515 2023-04-01 2024-03-31 08842515 frs-core:CurrentFinancialInstruments 2024-03-31 08842515 frs-core:Non-currentFinancialInstruments 2024-03-31 08842515 frs-core:ShareCapital 2024-03-31 08842515 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08842515 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31
Registered number: 08842515
Mason Metal Recycling Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 31 March 2025
Gail Oxley Limited
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5
Notes to the Financial Statements 6—8
Page 1
Company Information
Directors Mr Lee Mason
Mrs Joanne Mason
Mr Riley Mason
Company Number 08842515
Registered Office 200 QUEEN MARY ROAD
SHEFFIELD
S2 1JJ
Accountants Gail Oxley Limited
60A Birley Moor Road
Sheffield
S12 4WD
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Directors' Report
The directors present their report and the financial statements for the year ended 31 March 2025.
Directors
The directors who held office during the year were as follows:
Mr Lee Mason
Mrs Joanne Mason
Mr Riley Mason Appointed 01/04/2024
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report 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 the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Lee Mason
Director
22/09/2025
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Accountant's Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report 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 directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 March 2025 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements.
Signed
22/09/2025
Gail Oxley Limited
60A Birley Moor Road
Sheffield
S12 4WD
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Profit and Loss Account
2025 2024
Notes £ £
TURNOVER 458,102 512,711
Cost of sales (422,904 ) (453,725 )
GROSS PROFIT 35,198 58,986
Administrative expenses (4,167 ) (3,200 )
OPERATING PROFIT 31,031 55,786
Interest payable and similar charges (280 ) (389 )
PROFIT BEFORE TAXATION 30,751 55,397
Tax on Profit (3,086 ) (10,930 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 27,665 44,467
The notes on pages 6 to 8 form part of these financial statements.
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Balance Sheet
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 17,002 -
17,002 -
CURRENT ASSETS
Debtors 6 62,988 37,864
Cash at bank and in hand 96,884 119,180
159,872 157,044
Creditors: Amounts Falling Due Within One Year 7 (143,845 ) (123,062 )
NET CURRENT ASSETS (LIABILITIES) 16,027 33,982
TOTAL ASSETS LESS CURRENT LIABILITIES 33,029 33,982
Creditors: Amounts Falling Due After More Than One Year 8 (7,857 ) (13,966 )
NET ASSETS 25,172 20,016
CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 2,491 -
Profit and Loss Account 22,581 19,916
SHAREHOLDERS' FUNDS 25,172 20,016
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mr Lee Mason
Director
22/09/2025
The notes on pages 6 to 8 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Mason Metal Recycling Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08842515 . The registered office is 200 QUEEN MARY ROAD, SHEFFIELD, S2 1JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Reducing Balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
3 3
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4. Prior Period Adjustment
Correction of Asset Misclassification
During the current financial year, the directors identified that an item of equipment purchased in 2020 had been incorrectly treated as a revenue expense in the financial statements, rather than being capitalised as a fixed asset.
The error has been corrected in the current year by recognising the asset at its estimated net book value of £2,491.00 as at 1 April 2025, with a corresponding credit to retained earnings.
The asset is now being depreciated on a 25% reducing balance basis, in line with the company's accounting policy for similar assets.
The prior year comparatives have not been restated, as the cost of restatement would outweigh the benefit, and due to the impracticality of accurately determining the historical depreciation.
5. Tangible Assets
Motor Vehicles
£
Cost
As at 1 April 2024 -
Additions 18,241
As at 31 March 2025 18,241
Depreciation
As at 1 April 2024 -
Provided during the period 1,239
As at 31 March 2025 1,239
Net Book Value
As at 31 March 2025 17,002
As at 1 April 2024 -
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 62,988 37,864
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 21,201 15,025
Corporation tax 3,086 10,930
VAT 2,169 4,840
Accruals and deferred income 225 225
Directors' loan accounts 117,164 92,042
143,845 123,062
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Other loans 7,857 13,966
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9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Fair Value Reserve
£
Transfer to profit and loss 2,491
As at 31 March 2025 2,491
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