Company Registration No. 10820034 (England and Wales)
MACMASTER LETTINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
MACMASTER LETTINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MACMASTER LETTINGS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment properties
4
8,736,226
8,847,026
Current assets
Debtors
5
391,000
340,976
Cash at bank and in hand
100,958
33,620
491,958
374,596
Creditors: amounts falling due within one year
6
(78,549)
(26,282)
Net current assets
413,409
348,314
Total assets less current liabilities
9,149,635
9,195,340
Creditors: amounts falling due after more than one year
7
(6,377,703)
(6,450,645)
Provisions for liabilities
(104,003)
(105,322)
Net assets
2,667,929
2,639,373
Capital and reserves
Called up share capital
100
100
Share premium account
1,793,532
1,793,532
Profit and loss reserves
874,297
845,741
Total equity
2,667,929
2,639,373

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

MACMASTER LETTINGS LIMITED
BALANCE SHEET (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 4 December 2025 and are signed on its behalf by:
Mr D MacMaster
Director
Company Registration No. 10820034
MACMASTER LETTINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

MacMaster Lettings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Incom House, Waterside, Trafford Park, Manchester, M17 1WD.

1.1
Basis of preparation

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. 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 in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Rental income is recognised according to the period covered by rents received. Rental income is accrued or deferred as required.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
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.

1.5
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, 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.

MACMASTER LETTINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
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.

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.

1.6
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.

1.7
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 profit and loss account 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.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases
As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

MACMASTER LETTINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2025
2024
Number
Number
Total
3
3
4
Investment property
2025
£
Fair value
At 1 April 2024
8,847,026
Disposals
(110,800)
At 31 March 2025
8,736,226

Investment property comprises residential letting properties. These are included in the accounts at cost on acquisition and adjustments are made to an open market value basis, as required, by reference to market evidence of transaction prices for similar properties.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
3,698
26,502
Other debtors
387,302
314,474
391,000
340,976
MACMASTER LETTINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
11,018
7,078
Corporation tax
35,759
8,658
Other taxation and social security
(734)
(734)
Other creditors
32,506
11,280
78,549
26,282
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
6,377,703
6,450,645

Included within Creditors: amounts falling due after more than one year, is an amount of £6,377,703 in respect of liabilities not repayable by instalments which fall due for payment after more than five years from the reporting date.

The mortgage creditor, disclosed as bank loans and overdrafts, is secured upon the various properties to which it relates. The mortgages are interest only with the capital being repaid at the end of the term.

2025-03-31 2024-04-01 false false false 04 December 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mrs L MacMaster Mr G MacMaster Mr D MacMaster 10820034 2024-04-01 2025-03-31 10820034 2025-03-31 10820034 2024-03-31 10820034 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 10820034 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10820034 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 10820034 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 10820034 core:CurrentFinancialInstruments 2025-03-31 10820034 core:CurrentFinancialInstruments 2024-03-31 10820034 core:ShareCapital 2025-03-31 10820034 core:ShareCapital 2024-03-31 10820034 core:SharePremium 2025-03-31 10820034 core:SharePremium 2024-03-31 10820034 core:RetainedEarningsAccumulatedLosses 2025-03-31 10820034 core:RetainedEarningsAccumulatedLosses 2024-03-31 10820034 bus:Director3 2024-04-01 2025-03-31 10820034 2023-04-01 2024-03-31 10820034 2024-03-31 10820034 core:WithinOneYear 2025-03-31 10820034 core:WithinOneYear 2024-03-31 10820034 core:Non-currentFinancialInstruments 2025-03-31 10820034 core:Non-currentFinancialInstruments 2024-03-31 10820034 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10820034 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 10820034 bus:FRS102 2024-04-01 2025-03-31 10820034 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 10820034 bus:Director1 2024-04-01 2025-03-31 10820034 bus:Director2 2024-04-01 2025-03-31 10820034 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP