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

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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Masstruce Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o SAFE Property Management, First Floor, Unit 48, Westwood Park Trading Estate, Concord Road, London, W3 0TH.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover comprises ground rents received from the lessees of the managed property under the terms of their respective lease arrangements.

Income and expenditure arising from transactions relating to maintenance of the common parts in accordance with the lease are shown in the separate service charge accounts for the property which do not form part of the annual accounts of the company and are not filed at Companies House.

All service charge monies received from the lessees are held on trust. The governance of the expenditure of the service charge has been reviewed in consequence of payments to and reimbursement of  directors. Controls have been put in place to ensure that all directors are informed of any transaction that another director may have an interest in prior to it being undertaken. The managing agent has been directed to comply with the delegation in the contract namely to adhere to the expenditure limit of £500 plus VAT per item of expenditure.. Proposed expenditure in excess of £500 + VAT is to be referred to the Board for approval.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is not recognised in relation to the Freehold Property held, as the value is not diminishing over time. Although this is a departure from Companies Act 2006, this is felt necessary in order to provide a true and fair view of the company's position.

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:

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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

The tax expense represents the sum of the tax currently payable and any deferred tax.

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