Company Registration No. 08812605 (England and Wales)
Manik Ventures Limited
Unaudited accounts
for the year ended 31 March 2023
Manik Ventures Limited
Unaudited accounts
Contents
Manik Ventures Limited
Company Information
for the year ended 31 March 2023
Director
SPENCER, Nicholas
Company Number
08812605 (England and Wales)
Registered Office
BARCLAYS BANK CHAMBERS
BRIDGE STREET
STRATFORD-UPON-AVON
CV37 6AH
Accountants
Chadwick Accountants & Bookkeepers Ltd
Avon View Offices
90 High Street
Bidford-on-Avon
Warwickshire
B50 4AF
Manik Ventures Limited
Statement of financial position
as at 31 March 2023
Tangible assets
5,828
5,810
Cash at bank and in hand
490,842
489,919
Creditors: amounts falling due within one year
84,462
(126,952)
Net current assets
823,827
428,951
Total assets less current liabilities
829,755
434,861
Creditors: amounts falling due after more than one year
(1,869,532)
(1,591,615)
Provisions for liabilities
Deferred tax
(1,828)
(1,104)
Net liabilities
(1,041,605)
(1,157,858)
Called up share capital
112
112
Share premium
1,499,919
749,995
Profit and loss account
(2,541,636)
(1,907,965)
Shareholders' funds
(1,041,605)
(1,157,858)
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2023 and were signed on its behalf by
SPENCER, Nicholas
Director
Company Registration No. 08812605
Manik Ventures Limited
Notes to the Accounts
for the year ended 31 March 2023
Manik Ventures Limited is a private company, limited by shares, registered in England and Wales, registration number 08812605. The registered office is BARCLAYS BANK CHAMBERS, BRIDGE STREET, STRATFORD-UPON-AVON, CV37 6AH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Balance & 3 Year Straight Line
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Manik Ventures Limited
Notes to the Accounts
for the year ended 31 March 2023
These financial statements have been prepared on a going concern basis as an appropriate indication of support has been given by the director and majority shareholder.
4
Tangible fixed assets
Plant & machinery
5
Investments
Subsidiary undertakings
Valuation at 1 April 2022
100
Valuation at 31 March 2023
100
Amounts falling due within one year
Amounts due from group undertakings etc.
229,496
-
Accrued income and prepayments
1,154
-
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
45,289
46,712
Amounts owed to group undertakings and other participating interests
-
34,354
Taxes and social security
(132,203)
5,859
Manik Ventures Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Amounts owed to group undertakings and other participating interests
274,416
-
Loans from directors
1,595,116
1,591,615
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).