Registration number: SC360241

Masterpiece Global Limited

Contents

Accountants' Report	1
Abridged Balance Sheet	2
Notes to the Unaudited Abridged Financial Statements	3 to 4

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Masterpiece Global Limited
for the Year Ended 31 May 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Masterpiece Global Limited for the year ended 31 May 2025 as set out on pages 2 to 4 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Masterpiece Global Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Masterpiece Global Limited and state those matters that we have agreed to state to the Board of Directors of Masterpiece Global Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Masterpiece Global Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Masterpiece Global Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Masterpiece Global Limited. You consider that Masterpiece Global Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Masterpiece Global Limited. 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 statutory accounts.

......................................

Carnegie Accountancy
Chartered Certified Accountant
24 Carnegie Crescent
Aberdeen
AB15 4AE

13 December 2025

Masterpiece Global Limited

(Registration number: SC360241)
Abridged Balance Sheet as at 31 May 2025

	Note	2025 £	2024 £
Current assets
Stocks		36,227	42,527
Debtors		28,286	24,240
Cash at bank and in hand		520	321
		65,033	67,088
Creditors: Amounts falling due within one year		(36,450)	(37,706)
Net assets		28,583	29,382
Capital and reserves
Called up share capital		2	2
Retained earnings		28,581	29,380
Shareholders' funds		28,583	29,382

For the financial year ending 31 May 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 his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 13 December 2025
 

......................................... Mr J R P Webb Director

Masterpiece Global Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Osborne House
28-30 Carden Place
ABERDEEN
AB10 1UP

These financial statements were authorised for issue by the director on 13 December 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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

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.

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 sales/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.

Masterpiece Global Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2025

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 or valuation of assets less their residual values over their estimated useful lives on the following bases:

Asset class	Depreciation method and rate
Fixtures and fittings	25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

3	Staff numbers

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

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 June 2024	3,333	3,333
At 31 May 2025	3,333	3,333
Depreciation
At 1 June 2024	3,333	3,333
At 31 May 2025	3,333	3,333
Carrying amount
At 31 May 2025	-	-