Masafina Limited

	Page
Company Information	1
Accountants' Report	2
Statement of Financial Position	3—4
Notes to the Financial Statements	5—10

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Masafina Limited

Accountants' Report

For The Year Ended 31 March 2025

Accountants' Report

Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of Masafina Limited For The Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Masafina Limited For The Year Ended 31 March 2025 which comprise the Income Statement, the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the directors of Masafina Limited , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Masafina Limited and state those matters that we have agreed to state to the directors of Masafina Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Masafina Limited and its directors, as a body, for our work or for this report.

It is your duty to ensure that Masafina 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 profit or loss of Masafina Limited . You consider that Masafina Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of Masafina 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 financial statements.

24/12/2025

Sterling Accounting Solutions Ltd

Chartered Accountants

SAS House

Chipperfield Road

Kings Langley

Hertfordshire

WD4 9JB

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Masafina Limited

Statement of Financial Position

As At 31 March 2025

Statement of Financial Position

Registered number: 13959083

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		91,040		40,472
Tangible Assets	5		486,511		503,648

			577,551		544,120
CURRENT ASSETS
Stocks	6	162,152		91,090
Debtors	7	351,494		135,806
Cash at bank and in hand		47,398		48,133

		561,044		275,029
Creditors: Amounts Falling Due Within One Year	8	(82,171 )		(49,904 )

NET CURRENT ASSETS (LIABILITIES)			478,873		225,125

TOTAL ASSETS LESS CURRENT LIABILITIES			1,056,424		769,245

Creditors: Amounts Falling Due After More Than One Year	9		(1,467,000 )		(900,000 )

NET LIABILITIES			(410,576 )		(130,755 )

CAPITAL AND RESERVES
Called up share capital	10		35,000		35,000
Share premium account			586,000		586,000
Income Statement			(1,031,576 )		(751,755 )

SHAREHOLDERS' FUNDS			(410,576)		(130,755)

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Masafina Limited

Statement of Financial Position (continued)

As At 31 March 2025

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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

L Copp

Director

24/12/2025

The notes on pages 5 to 10 form part of these financial statements.

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Masafina Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Masafina Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13959083 . The registered office is SAS House, Chipperfield Road, Kings Langley, Hertfordshire, WD4 9JB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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, and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2. Going Concern Disclosure

The company has full support from its Directors and therefore is deemed a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.4. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to 10 years on a straight line basis over their expected useful economic lives.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% Straight Line
Plant & Machinery	10% Straight Line
Motor Vehicles	25% Reducing Balance
Computer Equipment	25% Reducing Balance

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Masafina Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. Financial Instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

2.8. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Masafina Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.9. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.10. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 15 (2024: 4)

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 April 2024	40,472
Additions	60,684

As at 31 March 2025	101,156

...CONTINUED

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Masafina Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Amortisation
As at 1 April 2024	-
Provided during the period	10,116

As at 31 March 2025	10,116

Net Book Value
As at 31 March 2025	91,040

As at 1 April 2024	40,472

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2024	390,975	226,670	17,995	1,298	636,938
Additions	32,615	5,759	24,000	1,410	63,784
Disposals	-	-	(17,995 )	-	(17,995 )

As at 31 March 2025	423,590	232,429	24,000	2,708	682,727

Depreciation
As at 1 April 2024	68,740	60,233	3,749	568	133,290
Provided during the period	35,471	28,832	2,038	334	66,675
Disposals	-	-	(3,749 )	-	(3,749 )

As at 31 March 2025	104,211	89,065	2,038	902	196,216

Net Book Value
As at 31 March 2025	319,379	143,364	21,962	1,806	486,511

As at 1 April 2024	322,235	166,437	14,246	730	503,648

6. Stocks

	2025	2024
	£	£
Stock	162,152	91,090

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Masafina Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	131,613	41,284
Prepayments and accrued income	17,988	67,428
Other debtors	2,082	-
Deferred tax current asset	186,460	18,113
VAT	13,351	8,981

	351,494	135,806

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	10,819	28,080
Other taxes and social security	24,381	14,958
Other creditors	8,515	1,052
Accruals and deferred income	38,035	5,190
Directors' loan accounts	421	624

	82,171	49,904

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Other creditors	1,467,000	900,000

Included in other creditors due in more than one year is a loan with no fixed date of repayment.

10. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
150,000 Ordinary A shares of £ 0.14 each	21,000	21,000
100,000 Ordinary B shares of £ 0.14 each	14,000	14,000

	35,000	35,000

11. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £1,715 (2024: £1,052) were due to the fund. They are included in Other Creditors.

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Masafina Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

12. Controlling Party

The company's controlling party is Laura Mary Copp by virtue of her ownership of 40% of the issued share capital in the company.

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Directors	L Copp
	A Montes Renaud

Company Number	13959083

Registered Office	SAS House
	Chipperfield Road
	Kings Langley
	Hertfordshire
	WD4 9JB

Accountants	Sterling Accounting Solutions Ltd
	Chartered Accountants
	SAS House
	Chipperfield Road
	Kings Langley
	Hertfordshire
	WD4 9JB