REGISTERED NUMBER: 05324081 (England and Wales)

Mastercuts (Sheppey) Limited

Unaudited Financial Statements for the Year Ended 31 December 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M Tovey

Mrs K D Tovey

SECRETARY:

Mrs K D Tovey

REGISTERED OFFICE:

1 High Street

Sheerness

Kent

ME12 1NY

REGISTERED NUMBER:

05324081 (England and Wales)

ACCOUNTANTS:

Foreman Waller

Chartered Accountants

1 High Street

Sheerness

Kent

ME12 1NY

FIXED ASSETS

Tangible assets

4

3,600

219

CURRENT ASSETS

Inventories

200

350

Debtors

5

237

424

Cash at bank and in hand

10,743

14,931

11,180

15,705

CREDITORS

Amounts falling due within one year

6

13,747

15,504

NET CURRENT (LIABILITIES)/ASSETS

(2,567

)

201

TOTAL ASSETS LESS CURRENT LIABILITIES

1,033

420

PROVISIONS FOR LIABILITIES

684

42

NET ASSETS

349

378

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

249

278

SHAREHOLDERS' FUNDS

349

378

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

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

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2026 and were signed on its behalf by:

Mrs K D Tovey - Director

1.	STATUTORY INFORMATION

Mastercuts (Sheppey) Limited 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 (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Income recognition

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on reducing balance

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

Taxation

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

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted by the statement of financial position date.

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

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

3,520

Additions

4,500

Disposals

(1,660

)

At 31 December 2025

6,360

DEPRECIATION

At 1 January 2025

3,301

Charge for year

1,119

Eliminated on disposal

(1,660

)

At 31 December 2025

2,760

NET BOOK VALUE

At 31 December 2025

3,600

At 31 December 2024

219

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

237

424

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

3,556

4,529

Other creditors

10,191

10,975

13,747

15,504