MASONS OF YORKSHIRE LTD


Directors	MASON, Catherine
	MASON, Karl Warren


Company Secretary	MASON, Karl


Registered Address	Masons Distillery Trinity Place
	Leeming Bar Business Park
	Leeming Bar
	DL7 9EE


Registered Number	08303103 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

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

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

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/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	10
Plant and machinery	25	-
Fixtures and fittings	20	-
Office Equipment	-	3

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

	Government grants or assistance
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure. The Government Grant relates to expenditure on a fixed asset, treated as deferred income and credited to the profit and loss account over the useful economic life of the asset.

Government grants or assistance

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Income Statement at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. 

Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.

The Government Grant relates to expenditure on a fixed asset, treated as deferred income and credited to the profit and loss account over the useful economic life of the asset.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	16		20

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 25	32,599	32,599
At 31 December 25	32,599	32,599
Amortisation and impairment
At 01 January 25	27,869	27,869
Charge for year	1,399	1,399
At 31 December 25	29,268	29,268
Net book value
At 31 December 25	3,331	3,331
At 31 December 24	4,730	4,730

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 January 25	379,419	814,989	97,419	93,125	1,384,952
Additions	-	1,938	-	1,887	3,825
At 31 December 25	379,419	816,927	97,419	95,012	1,388,777
Depreciation and impairment
At 01 January 25	175,992	586,344	60,167	76,813	899,316
Charge for year	37,942	57,274	7,452	6,248	108,916
At 31 December 25	213,934	643,618	67,619	83,061	1,008,232
Net book value
At 31 December 25	165,485	173,309	29,800	11,951	380,545
At 31 December 24	203,427	228,645	37,252	16,312	485,636

5.	Fixed asset investments

	Investments in groups¹	Other investments²	Total
	£	£	£
Cost or valuation
At 01 January 25	1,000	-	1,000
Additions	-	1,000	1,000
At 31 December 25	1,000	1,000	2,000
Net book value
At 31 December 25	1,000	1,000	2,000
At 31 December 24	1,000	-	1,000

	Notes
	¹Investments in group undertakings and participating interests ²Other investments other than loans

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	255,028	413,381
Other debtors	101,500	42,700
Prepayments and accrued income	197,759	99,998
Total	554,287	556,079


	Included in Other Debtors is the Deferred Tax Asset of £101,500 (2024: £42,700). The provision for Deferred Tax is made up of (£182,512) in respect of company losses and £80,912 in respect of accelerated capital allowances.

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	228,555	98,082
Taxation and social security	77,084	147,388
Other creditors	1,376	1,807
Accrued liabilities and deferred income	54,713	71,049
Total	361,728	318,326

8.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	12,399	16,532
Total	12,399	16,532

9.	Operating lease commitments
	At 31 December 2025, the company had future minimum lease payments under non-cancellable operating leases in respect of motor vehicles and equipment of £11,556 (2024 - £18,395) and leasehold property totalling £298,690 (2024 - £365,928).

10.	Related party transactions
	A Director has been provided a personal guarantee over the borrowings of the company limited to £50,000.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		3,331		4,730
Tangible assets	4		380,545		485,636
Investments	5		2,000		1,000
			385,876		491,366
Current assets
Stocks		283,152		373,219
Debtors	6	554,287		556,079
Cash at bank and on hand		214,853		194,530
		1,052,292		1,123,828
Creditors amounts falling due within one year	7	(361,728)		(318,326)
Net current assets (liabilities)			690,564		805,502
Total assets less current liabilities			1,076,440		1,296,868
Creditors amounts falling due after one year	8		(12,399)		(16,532)
Net assets			1,064,041		1,280,336
Capital and reserves
Called up share capital			125		125
Share premium			299,975		299,975
Profit and loss account			763,941		980,236
Shareholders' funds			1,064,041		1,280,336