Company Registration No. SC321878 (Scotland)
ROBERT MASON HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
PAGES FOR FILING WITH REGISTRAR
James Hair & Co
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
ROBERT MASON HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Investments
3
160,000
160,000
Current assets
Stocks
1,175
1,175
Debtors
4
3,395
-
Cash at bank and in hand
20,655
13,548
25,225
14,723
Creditors: amounts falling due within one year
5
(3,871)
(2,348)
Net current assets
21,354
12,375
Total assets less current liabilities
181,354
172,375
Capital and reserves
Called up share capital
7
20,001
20,001
Share premium account
140,000
140,000
Profit and loss reserves
21,353
12,374
Total equity
181,354
172,375
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 February 2019
Mr Robert Mason
Director
Company Registration No. SC321878
ROBERT MASON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
- 2 -
1
Accounting policies
Company information
Robert Mason Holdings Limited is a
private
company
limited by shares
incorporated in Scotland.
The registered office is
59 Bonnygate, CUPAR, Fife, UK, KY15 4BY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section
399
of the
Companies Act 2006 not to prepare consolidated accounts
, on the basis that the group of which this is the parent qualifies as a small group
. The financial statements present information about the company as an individual entity and not about its group
.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.3
Stocks and work in progress
Stocks and work in progress including short term contracts are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost comprises direct expenditure and an appropriate proportion of fixed and variable overheads.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.4
Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.
1.5
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
ROBERT MASON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2018
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2017 - 1).
3
Fixed asset investments
2018
2017
£
£
Investments
160,000
160,000
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 June 2017 & 31 May 2018
160,000
Carrying amount
At 31 May 2018
160,000
At 31 May 2017
160,000
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
3,395
-
5
Creditors: amounts falling due within one year
2018
2017
£
£
Amounts due to group undertakings
-
14
Corporation tax
27
-
Directors current accounts
669
59
Accruals and deferred income
3,175
2,275
3,871
2,348
ROBERT MASON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2018
- 4 -
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
20,001 of £1 each
20,001
20,001
20,001
20,001