The Mason Family Company Limited - Accounts to registrar (filleted) - small 18.1

THE MASON FAMILY COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTOR:

D Mason

REGISTERED OFFICE:

The Old Farmhouse

Harborough Road

Brixworth

Northamptonshire

NN6 9BX

REGISTERED NUMBER:

08174654 (England and Wales)

ACCOUNTANTS:

Barr & Associates

2nd Floor

Orion House

Bessemer Road

Welwyn Garden City

Hertfordshire

AL7 1HH

CURRENT ASSETS

Debtors

4

9,439

5,400

Cash at bank

1,958

18,872

11,397

24,272

CREDITORS

Amounts falling due within one year

5

10,884

23,515

NET CURRENT ASSETS

513

757

TOTAL ASSETS LESS CURRENT LIABILITIES

513

757

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

413

657

SHAREHOLDERS' FUNDS

513

757

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30 May 2018 and were signed by:

D Mason - Director

1.	STATUTORY INFORMATION

The Mason Family Company Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of

financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

9,439

4,000

Prepayments

-

1,400

9,439

5,400

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1

1,401

Tax

7,821

6,380

Social security and other taxes

1,862

231

Directors' current accounts

-

15,003

Accruals and deferred income

1,200

500

10,884

23,515

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

85

Ordinary 'A'

£1

85

85

5

Ordinary 'B'

£1

5

5

5

Ordinary 'D'

£1

5

5

5

Ordinary 'C'

£1

5

5

100

100

7.

RESERVES

Retained

earnings

£

At 1 September 2016

657

Profit for the year

9,756

Dividends

(10,000

)

At 31 August 2017

413

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

In accordance with the requirements of the Companies Act 2006 the following information is given below relating to

balances and transactions relating to the company's director.

2017

2016

£

£

Included within creditors:

Mr D Mason

0

15,003

9.	RELATED PARTY DISCLOSURES

David Mason Financial Planning LLP

A partnership in which D Mason is a partner.

Included in trade debtors is a balance of £9,439 (2016 - £4,000) due from David Mason Financial Planning LLP.

Sales of £48,050 (2016 - £31,050) were charged from The Mason Family Company Limited to David Mason Financial

Planning LLP.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Mason.