Masterman Engineering Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Masterman Engineering Ltd

Company Information

Director

Mr M Masterman

Registered office

Lloyds Bank House Bellingham Hexham Northumberland England NE48 2AZ

Masterman Engineering Ltd

(Registration number: 15731859)
Balance Sheet as at 31 May 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	31,502	745
Current assets
Debtors	6	30,037	40,230
Cash at bank and in hand		34,976	65,245
		65,013	105,475
Creditors: Amounts falling due within one year	7	(8,637)	(45,363)
Net current assets		56,376	60,112
Net assets		87,878	60,857
Capital and reserves
Called up share capital		100	100
Retained earnings		87,778	60,757
Shareholders' funds		87,878	60,857

For the financial year ending 31 May 2026 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 23 September 2026
 

......................................... Mr M Masterman Director

Masterman Engineering Ltd

Notes to the Unaudited Financial Statements for the year ended 31 May 2026

1	General information

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

The address of its registered office is:
Lloyds Bank House
Bellingham
Hexham
Northumberland
NE48 2AZ
England

These financial statements were authorised for issue by the director on 23 September 2026.

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.

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 turnover 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Masterman Engineering Ltd

Notes to the Unaudited Financial Statements for the year ended 31 May 2026

Tax

The tax expense for the period comprises current 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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:

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.

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Masterman Engineering Ltd

Notes to the Unaudited Financial Statements for the year ended 31 May 2026

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2025 - 1).

4

Taxation

Tax charged/(credited) in the profit and loss account

	2026 £	2025 £
Current taxation
UK corporation tax	-	40,112

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 June 2025	876	-	876
Additions	2,483	38,344	40,827
At 31 May 2026	3,359	38,344	41,703
Depreciation
At 1 June 2025	131	-	131
Charge for the year	484	9,586	10,070
At 31 May 2026	615	9,586	10,201
Carrying amount
At 31 May 2026	2,744	28,758	31,502
At 31 May 2025	745	-	745

Masterman Engineering Ltd

Notes to the Unaudited Financial Statements for the year ended 31 May 2026

6

Debtors

Current	2026 £	2025 £
Trade debtors	30,037	40,230
	30,037	40,230

7

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	120	-
Taxation and social security	6,810	40,112
Accruals and deferred income	1,032	960
Other creditors	675	4,291
	8,637	45,363

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary Shares of £1 each	99	99	99	99
Ordinary A Shares of £1 each	1	1	1	1
	100	100	100	100

9	Commitments

Other financial commitments

The total amount of other financial commitments not provided in the financial statements was £Nil (2025 - £Nil).