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Registered number: 07363005
Masticman.net Limited
Unaudited Financial Statements
For The Year Ended 30 September 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07363005
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 208 9,904
208 9,904
CURRENT ASSETS
Stocks 5 6,690 6,107
Debtors 6 120,106 250,255
Cash at bank and in hand 4,872 3,545
131,668 259,907
Creditors: Amounts Falling Due Within One Year 7 (19,467 ) (77,911 )
NET CURRENT ASSETS (LIABILITIES) 112,201 181,996
TOTAL ASSETS LESS CURRENT LIABILITIES 112,409 191,900
Creditors: Amounts Falling Due After More Than One Year 8 (268 ) (66,848 )
NET ASSETS 112,141 125,052
CAPITAL AND RESERVES
Called up share capital 11 1 1
Profit and Loss Account 112,140 125,051
SHAREHOLDERS' FUNDS 112,141 125,052
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For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
On behalf of the board
Mr D C Williams
Director
14 September 2026
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Masticman.net Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07363005 . The registered office is Ginger House, Horne Road, Ilfracombe, North Devon, EX34 8HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
2.2.1 Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.2.2 Rendering of services
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 is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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:
Plant & Machinery 25% on cost
Motor Vehicles 25% on cost
Computer & Office Equipment 25% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
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2.5. 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.
2.6. Financial Instruments
The Company only enters into basic financial instruments 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 non-puttable ordinary shares.
2.6.1 Debtors
Short term debtors are measured at transaction price, less any impairment.
2.6.2 Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
2.6.3 Creditors
Short term creditors are measured at the transaction price.
2.7. 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.8. Employee benefits
Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer & Office Equipment Total
£ £ £ £
Cost
As at 1 October 2024 265 37,975 1,198 39,438
Additions 189 - - 189
Disposals - (20,995 ) - (20,995 )
As at 30 September 2025 454 16,980 1,198 18,632
Depreciation
As at 1 October 2024 132 28,481 921 29,534
Provided during the period 114 4,245 277 4,636
Disposals - (15,746 ) - (15,746 )
As at 30 September 2025 246 16,980 1,198 18,424
Net Book Value
As at 30 September 2025 208 - - 208
As at 1 October 2024 133 9,494 277 9,904
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2025 2024
£ £
Motor Vehicles - 9,494
5. Stocks
2025 2024
£ £
Work in progress 6,690 6,107
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6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 23,111 36,848
Amounts owed by participating interests 59,102 139,784
Other debtors 37,893 73,623
120,106 250,255
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 2,755 7,048
Trade creditors 3,820 -
Bank loans and overdrafts 1,333 26,000
Amounts owed to participating interests - 3,515
Other creditors 3,988 16,896
Taxation and social security 7,571 24,452
19,467 77,911
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 268 5,515
Bank loans - 1,333
Amounts owed to participating interests - 60,000
268 66,848
9. Secured Creditors
The secured debts included in creditors are listed below. The liabilities to the hire purchase financier's are secured over the assets acquired. The bank loan is secured by the UK Government under the bounce back loan scheme.
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 3,296 12,563
Bank loans and overdrafts 1,333 3,333
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10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,755 7,048
Later than one year and not later than five years 268 5,515
3,023 12,563
3,023 12,563
11. Share Capital
2025 2024
Allotted, called up and fully paid £ £
1 Ordinary Shares of £ 1.00 each 1 1
12. Ultimate Controlling Party
The ultimate controlling party is Mr D C Williams.
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