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Registration number: 04082278

Masterclass Developments Limited
Annual Report and Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

Masterclass Developments Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 8

Masterclass Developments Limited

Company Information

Director | Mr Leslie Coulthard

Registered office | 8 High Street Heathfield East Sussex England TN21 8LS

Accountants | Manningtons Victoria House The Moor Hawkhurst Cranbrook Kent TN18 4NR

Masterclass Developments Limited

(Registration number: 04082278)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 4,330 | 7,522
Investments | 5 | 1 | 1
|  | 4,331 | 7,523
Current assets |  |  |
Stocks | 6 | - | 3,000
Debtors | 7 | 837 | 1,329
Cash at bank and in hand |  | 113,622 | 173,904
|  | 114,459 | 178,233
Creditors: Amounts falling due within one year | 8 | (100,189) | (172,514)
Net current assets |  | 14,270 | 5,719
Total assets less current liabilities |  | 18,601 | 13,242
Provisions for liabilities |  | - | (266)
Net assets |  | 18,601 | 12,976
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 18,501 | 12,876
Shareholders' funds |  | 18,601 | 12,976

For the financial year ending 31 December 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 March 2026

......................................... Mr Leslie Coulthard Director

Masterclass Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

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

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
England

The principal place of business is:
2 Hither Field
Charing
Ashford
Kent
TN27 0HZ

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 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 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.

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

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Masterclass Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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 of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and equipment | 15% Straight Line
Motor vehicles | 20% Straight Line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Masterclass Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Masterclass Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4 | Tangible assets

| Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 January 2025 | 17,500 | 187,424 | 204,924
Additions | - | 1,954 | 1,954
Disposals | - | (1,686) | (1,686)
At 31 December 2025 | 17,500 | 187,692 | 205,192
Depreciation
At 1 January 2025 | 14,000 | 183,402 | 197,402
Charge for the year | 3,500 | 481 | 3,981
Eliminated on disposal | - | (521) | (521)
At 31 December 2025 | 17,500 | 183,362 | 200,862
Carrying amount
At 31 December 2025 | - | 4,330 | 4,330
At 31 December 2024 | 3,500 | 4,022 | 7,522

5 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 1 | 1

Subsidiaries | £
Cost or valuation
At 1 January 2025 | 1
Provision
Carrying amount
At 31 December 2025 | 1
At 31 December 2024 | 1

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Masterclass Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
Phoenix Fencing (UK) Ltd | England and Wales | Ordinary | 100% | 100%

Subsidiary undertakings
Phoenix Fencing (UK) Ltd The principal activity of Phoenix Fencing (UK) Ltd is manufacture of gates and other products.

6 | Stocks

| 2025 £ | 2024 £
Finished goods and goods for resale | - | 3,000

7 | Debtors

| 2025 £ | 2024 £
Trade debtors | 1 | 1,189
Taxation and social security | 607 | -
Prepayments | 229 | 140
| 837 | 1,329

Masterclass Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

8 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Trade creditors |  | 1,191 | 1,438
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 9 | 58,226 | 58,898
Taxation and social security |  | - | 1,144
Accruals and deferred income |  | 800 | 800
Director loan account |  | 39,972 | 110,234
|  | 100,189 | 172,514

9 | Related party transactions

Summary of transactions with other related parties

L C Farming Services Ltd & Phoenix Fencing Ltd
L Coulthard is a director and shareholder Provision of farming and logging services

Expenditure with and payables to related parties

2025