MACHINERY MASTERS LIMITED


Director	BRAY, Josh Austin


Registered Address	71 High Street
	Honiton
	EX14 1PW


Registered Number	16210616 (England and Wales)

Notes to the Financial Statements
for the period ended 31 January 2026

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.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

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

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements. The company is funded by director and shareholder loans which the lenders have confirmed will not be called for at least 24 months, in addition to exploring a private funding round in due course.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements. The company is funded by director and shareholder loans which the lenders have confirmed will not be called for at least 24 months, in addition to exploring a private funding round in due course.

	Revenue from rendering of services
	Subscription and partnership fees are recognised on a straight-line basis over the subscription term. Amounts invoiced in advance are deferred.

	Interest income
	Interest income is recognised using the effective interest rate method.

	Borrowing costs
	Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

	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 profit or loss.

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 profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	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. Website development costs are capitalised as intangible fixed assets only when the company can demonstrate the technical feasibility of completing the website, the intention to complete it for internal use or sale, how it will generate future economic benefits, and that the costs can be reliably measured. Capitalised development costs are stated at historical cost less accumulated amortisation and any accumulated impairment losses. Cost includes external direct costs of materials and services consumed in development, and direct payroll-related costs of employees engaged in the project.

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.

Website development costs are capitalised as intangible fixed assets only when the company can demonstrate the technical feasibility of completing the website, the intention to complete it for internal use or sale, how it will generate future economic benefits, and that the costs can be reliably measured.

Capitalised development costs are stated at historical cost less accumulated amortisation and any accumulated impairment losses. Cost includes external direct costs of materials and services consumed in development, and direct payroll-related costs of employees engaged in the project.

	Amortisation
	Amortisation is charged to the Profit and Loss Account on a straight-line basis over the estimated useful economic life of the asset. Amortisation begins when the website is fully developed and available for commercial use. The estimated useful life and amortisation rate for website development costs are as follows: - Website Development Costs – 5 years (20% per annum, straight-line) The assets' residual values, useful lives, and amortisation methods are reviewed at each financial year-end, and adjusted prospectively if there is a significant change in expectations or technological obsolescence.

Amortisation

Amortisation is charged to the Profit and Loss Account on a straight-line basis over the estimated useful economic life of the asset. Amortisation begins when the website is fully developed and available for commercial use.

The estimated useful life and amortisation rate for website development costs are as follows:
 - Website Development Costs – 5 years (20% per annum, straight-line)

The assets' residual values, useful lives, and amortisation methods are reviewed at each financial year-end, and adjusted prospectively if there is a significant change in expectations or technological obsolescence.

	Development costs
	Capitalised development costs are stated at cost less accumulated amortisation and accumulated impairment losses (cost model). Amortisation is recognised using the straight-line basis and results in the carrying amount being expensed in profit or loss over the estimated useful life.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Office Equipment	4

	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.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	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
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2026
	Average number of employees during the year	0

3.	Intangible assets

		Total
		£
	Cost or valuation
	Additions	75,525
	At 31 January 26	75,525
	Amortisation and impairment
	Charge for year	8,811
	At 31 January 26	8,811
	Net book value
	At 31 January 26	66,714
	At 26 January 25	-

4.	Useful life of intangible assets
	The estimated useful life and amortisation rate for website development costs are as follows: - Website Development Costs – 5 years (20% per annum, straight-line)

5.	Tangible fixed assets

		Total
		£
	Cost or valuation
	Additions	257
	At 31 January 26	257
	Depreciation and impairment
	Charge for year	11
	At 31 January 26	11
	Net book value
	At 31 January 26	246
	At 26 January 25	-

6.	Debtors: amounts due within one year

		2026
		£
	Trade debtors / trade receivables	3,108
	Prepayments and accrued income	1,275
	Total	4,383

7.	Creditors: amounts due within one year

		2026
		£
	Trade creditors / trade payables	7,034
	Taxation and social security	1,856
	Other creditors	44,365
	Accrued liabilities and deferred income	38,917
	Total	92,172

8.	Creditors: amounts due after one year

		2026
		£
	Other creditors	71,300
	Total	71,300

9.	Other commitments
	At the balance sheet date, the company had financial commitments contracted for but not provided in the financial statements of £1,983, relating to web development work. In addition, the company had ongoing monthly commitments of £2,903 under service contracts for website maintenance and digital marketing.

10.	Share capital
	Allotted, called up and fully paid share capital consists of 8,000 Ordinary A shares of £0.001 each (aggregate nominal value £8.00) and 2,000 Ordinary B shares of £0.001 each (aggregate nominal value £2.00).

11.	Events after reporting date
	Subsequent to the financial year-end, the company secured further interest-free funding from related parties: • Director's Interest-free Loan: Additional interest-free funding was received from a director, increasing the outstanding loan balance from £18,900 at the year-end to £69,650 as of 31 July 2026. • Shareholder Loan Agreement: In September 2026, the company entered into a new interest-free loan agreement with a shareholder, with the initial drawdown occurring in the same month. These loans are unsecured and have no fixed repayment terms.

11.

Events after reporting date

Subsequent to the financial year-end, the company secured further interest-free funding from related parties:

• Director's Interest-free Loan: Additional interest-free funding was received from a director, increasing the outstanding loan balance from £18,900 at the year-end to £69,650 as of 31 July 2026.

• Shareholder Loan Agreement: In September 2026, the company entered into a new interest-free loan agreement with a shareholder, with the initial drawdown occurring in the same month.

These loans are unsecured and have no fixed repayment terms.

12.	Related party transactions
	Included within creditors falling due after more than one year is an aggregate balance of £71,300 (2025: £nil) owed to one director and two shareholders. These loans are unsecured, interest-free and have no fixed repayment date. At the balance sheet date, the company owed a balance of £44,374 to a director in respect of their director's loan account. This balance is unsecured, interest-free, has no fixed repayment date, and is repayable on demand. No guarantees have been given or received, and no expense has been recognised in the period for bad or doubtful debts in respect of this amount.

12.

Related party transactions

Included within creditors falling due after more than one year is an aggregate balance of £71,300 (2025: £nil) owed to one director and two shareholders. These loans are unsecured, interest-free and have no fixed repayment date.

At the balance sheet date, the company owed a balance of £44,374 to a director in respect of their director's loan account. This balance is unsecured, interest-free, has no fixed repayment date, and is repayable on demand. No guarantees have been given or received, and no expense has been recognised in the period for bad or doubtful debts in respect of this amount.

	Notes	2026
		£	£
Fixed assets
Intangible assets	3		66,714
Tangible assets	5		246
			66,960
Current assets
Debtors	6	4,383
Cash at bank and on hand		19,529
		23,912
Creditors amounts falling due within one year	7	(92,172)
Net current assets (liabilities)			(68,260)
Total assets less current liabilities			(1,300)
Creditors amounts falling due after one year	8		(71,300)
Net assets			(72,600)
Capital and reserves
Called up share capital			10
Profit and loss account			(72,610)
Shareholders' funds			(72,600)