REGISTERED NUMBER: 04599607 (England and Wales)

Masshouse Developments Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

AG Murphy

REGISTERED OFFICE:

Elementary Studios Suite 12.1 Blue Tower

Media City Uk

Salford

M50 2ST

REGISTERED NUMBER:

04599607 (England and Wales)

ACCOUNTANTS:

McMillan & Co LLP

Chartered Accountants

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

CURRENT ASSETS

Debtors

5

52,347

31,515

Investments

6

4

4

Cash at bank

6,522

1,769

58,873

33,288

CREDITORS

Amounts falling due within one year

7

14,606,768

16,231,711

NET CURRENT LIABILITIES

(14,547,895

)

(16,198,423

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(14,547,895

)

(16,198,423

)

CAPITAL AND RESERVES

Called up share capital

8

4

4

Retained earnings

(14,547,899

)

(16,198,427

)

SHAREHOLDERS' FUNDS

(14,547,895

)

(16,198,423

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2025 and were signed by:

AG Murphy - Director

1.	STATUTORY INFORMATION

Masshouse Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The amounts in the financial statements have been rounded to the nearest £1.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

On 17 October 2024, the intermediary parent company, Nikal Ltd, was placed into administration and, as a result, is unable to settle various intercompany balances. With Nikal Ltd no longer being in a position to provide financial support to this company, these financial statements have not been prepared on a going concern basis.

Preparation of consolidated financial statements

The financial statements contain information about Masshouse Developments Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemptions available under Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" relating to the disclosure of related parties transactions where is is able where it is able to do so.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

41,024

14,008

Amounts owed by group undertakings

1,066

-

VAT

-

1,574

Prepayments and accrued income

10,257

15,933

52,347

31,515

6.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Shares in group undertakings

4

4

The shares in subsidiary undertakings have been treated as a current assets as the financial

statements have not been prepared on a going concern basis.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

30,579

152,291

Amounts owed to group undertakings

14,543,908

16,047,414

VAT

3,509

-

Accruals and deferred income

28,772

32,006

14,606,768

16,231,711

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

B ordinary shares

£1

2

2

2

A Ordinary shares

£1

2

2

4

4

9.	RELATED PARTY DISCLOSURES

During the year the company made sales of £Nil (2024: £5,256,500) to group companies.

During the year the company credited £84,571 (2024: £20,548,444 charge) in bad debt write backs relating to group companies.

During the year the company incurred management charges of £8,330 (2024: £46,751) from group companies.

At the end of the year, the company was owed £Nil (2024: £nil) by Nikal Ltd, its intermediary parent company There was a credit to bad debt provision of £96,275 (2024: provision charge in the year of £19,746,927).

At the end of the year, the company was owed £1,066 (2024: £nil) from companies under common control, following the provision in the year of £11,704 (2024: £801,517).

At the end of the year, the company owed £14,543,908 (2024: £16,047,414) to companies under common control.

10.	ULTIMATE CONTROLLING PARTY

On 17 October 2024, Paul Stanley and Mark Weekes, of Begbies Traynor (Central) LLP, were appointed as administrators of Nikal Ltd, an intermediate parent company. As a result, they are considered to be the controlling party from this date as a consequence of their control of Nikal Ltd.