Company Registration No. SC321878 (Scotland)
ROBERT MASON HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2021
PAGES FOR FILING WITH REGISTRAR
James Hair & Co
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
ROBERT MASON HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2021
31 May 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
3
160,100
160,100
Current assets
Stocks
43,483
43,483
Debtors
4
71,410
63,608
Cash at bank and in hand
4,928
62,852
119,821
169,943
Creditors: amounts falling due within one year
5
(5,978)
(2,778)
Net current assets
113,843
167,165
Total assets less current liabilities
273,943
327,265
Creditors: amounts falling due after more than one year
6
(50,000)
Net assets
273,943
277,265
Capital and reserves
Called up share capital
7
20,001
20,001
Share premium account
140,000
140,000
Profit and loss reserves
113,942
117,264
Total equity
273,943
277,265
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 2021 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 31 May 2022
Mr Robert Mason
Director
Company Registration No. SC321878
ROBERT MASON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2021
- 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.
ROBERT MASON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
3
Fixed asset investments
2021
2020
£
£
Shares in group undertakings and participating interests
160,100
160,100
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 June 2020 & 31 May 2021
160,100
Carrying amount
At 31 May 2021
160,100
At 31 May 2020
160,100
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
71,410
63,608
5
Creditors: amounts falling due within one year
2021
2020
£
£
Directors current accounts
3,578
1,578
Accruals and deferred income
2,400
1,200
5,978
2,778
ROBERT MASON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
- 4 -
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
50,000
R Mason the director and shareholder has
provided a personal guarantee for
all sums due or to become due
to the Bank of Scotland in connection with the company's banking facilities.
7
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
20,001 Ordinary shares of £1 each
20,001
20,001