Mastercote UK Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06826581

Mastercote UK Ltd

Unaudited financial statements

31 March 2025

Mastercote UK Ltd

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6		488,322		312,680

Current assets

Stocks		50,000	41,000
Debtors	7	307,164	316,749
Cash at bank and in hand		18,168	69,492
		---------	---------
		375,332	427,241

Prepayments and accrued income	3,209		5,603

Creditors: Amounts falling due within one year	8	( 441,540)		( 535,208)
		---------		---------
Net current liabilities			( 62,999)		( 102,364)
			---------		---------
Total assets less current liabilities			425,323		210,316

Creditors: Amounts falling due after more than one year	9		( 167,130)		( 83,628)

Provisions

Taxation including deferred tax		( 92,264)		( 41,276)

Accruals and deferred income	( 18,914)	( 18,707)
	---------	---------
Net assets	147,015	66,705
	---------	---------

Capital and reserves

Called up share capital	4	4
Profit and loss account	147,011	66,701
	---------	-------
Shareholders funds	147,015	66,705
	---------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

Mastercote UK Ltd

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 3 December 2025 , and are signed on behalf of the board by:

Mrs D Gaskin

Director

Company registration number: 06826581

Mastercote UK Ltd

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 52-54 Wendover Road, Rackheath Industrial Estate, Rackheath, Norwich, NR13 6LH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	fully written down

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold improvements	-	15 years straight line
Plant and machinery	-	20% reducing balance
Fixures and fittings	-	20% reducing balance
Motor vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Average number of employees

The average number of employees during the year was 35 (2024: 34 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	1
	----
Amortisation
At 1 April 2024 and 31 March 2025	1
	----
Carrying amount
At 31 March 2025	–
	----
At 31 March 2024	–
	----

6. Tangible assets

	Leasehold improvemnts	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2024	185,277	384,767	17,084	16,963	604,091
Additions	11,279	222,483	385	–	234,147
	---------	---------	-------	-------	---------
At 31 March 2025	196,556	607,250	17,469	16,963	838,238
	---------	---------	-------	-------	---------
Depreciation
At 1 April 2024	43,589	224,224	7,950	15,648	291,411
Charge for the year	12,872	43,406	1,898	329	58,505
	---------	---------	-------	-------	---------
At 31 March 2025	56,461	267,630	9,848	15,977	349,916
	---------	---------	-------	-------	---------
Carrying amount
At 31 March 2025	140,095	339,620	7,621	986	488,322
	---------	---------	-------	-------	---------
At 31 March 2024	141,688	160,543	9,134	1,315	312,680
	---------	---------	-------	-------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	305,355	316,749
Other debtors	1,809	–
	---------	---------
	307,164	316,749
	---------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	76,137	76,147
Trade creditors	146,748	131,003
Social security and other taxes	99,635	107,488
Other creditors	119,020	220,570
	---------	---------
	441,540	535,208
	---------	---------

Included within other creditors is an amount of £108,716 (2023: £201,440) which is secured by way of a fixed and floating charge over the company's assets.

9. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	167,130	83,628
	---------	-------