1 false false false false false false false false false true false false false false true true No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 645,669 380,916 1,026,585 1,026,585 645,669 xbrli:pure xbrli:shares iso4217:GBP 10986397 2022-03-01 2023-02-28 10986397 2023-02-28 10986397 2021-03-01 2022-02-28 10986397 2022-02-28 10986397 bus:Director1 2022-03-01 2023-02-28 10986397 core:AfterOneYear 2023-02-28 10986397 core:AfterOneYear 2022-02-28 10986397 core:WithinOneYear 2023-02-28 10986397 core:WithinOneYear 2022-02-28 10986397 core:ShareCapital 2023-02-28 10986397 core:ShareCapital 2022-02-28 10986397 core:RetainedEarningsAccumulatedLosses 2023-02-28 10986397 core:RetainedEarningsAccumulatedLosses 2022-02-28 10986397 core:CostValuation core:Non-currentFinancialInstruments 2022-02-28 10986397 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-02-28 10986397 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 10986397 core:Non-currentFinancialInstruments 2023-02-28 10986397 core:Non-currentFinancialInstruments 2022-02-28 10986397 bus:Director1 2022-02-28 10986397 bus:Director1 2023-02-28 10986397 bus:Director1 2021-02-28 10986397 bus:Director1 2022-02-28 10986397 bus:Director1 2021-03-01 2022-02-28 10986397 bus:SmallEntities 2022-03-01 2023-02-28 10986397 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 10986397 bus:FullAccounts 2022-03-01 2023-02-28 10986397 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 10986397 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28
COMPANY REGISTRATION NUMBER: 10986397
MANIFEST ESTATES LIMITED
Filleted Unaudited Financial Statements
28 February 2023
MANIFEST ESTATES LIMITED
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
1,026,585
645,669
Current assets
Debtors
6
2,698
1,788
Cash at bank and in hand
17,285
38,399
--------
--------
19,983
40,187
Creditors: amounts falling due within one year
7
277,510
177,826
---------
---------
Net current liabilities
257,527
137,639
------------
---------
Total assets less current liabilities
769,058
508,030
Creditors: amounts falling due after more than one year
8
732,656
461,310
---------
---------
Net assets
36,402
46,720
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
36,302
46,620
--------
--------
Shareholders funds
36,402
46,720
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MANIFEST ESTATES LIMITED
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 10 August 2023 , and are signed on behalf of the board by:
Hansa Sanjay Shah
Director
Company registration number: 10986397
MANIFEST ESTATES LIMITED
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 45 Eagle Road, Wembley, HA0 4SJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Depreciation
No depreciation in respect of leasehold investment property. Although this accounting policy is in accordance with the applicable accounting standard, SSAP 19, Accounting for investment property, it is departure from the general requirement of the Companies Act 2006, which requires all fixed assets to be depreciated. However the directors consider that the calculation of systematic annual depreciation would fail to give a true and fair view of investment property for which the current value, and changes in that value are of prime importance. The accounting policy adopted is therefore necessary for the financial statements to give true and fair view.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Investments
Other investments other than loans
£
Cost
At 1 March 2022
645,669
Additions
380,916
------------
At 28 February 2023
1,026,585
------------
Impairment
At 1 March 2022 and 28 February 2023
------------
Carrying amount
At 28 February 2023
1,026,585
------------
At 28 February 2022
645,669
------------
6. Debtors
2023
2022
£
£
Other debtors
2,698
1,788
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
5,708
6,760
Other creditors
271,802
171,066
---------
---------
277,510
177,826
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
732,656
461,310
---------
---------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Hansa Sanjay Shah
( 168,345)
( 99,759)
( 268,104)
---------
--------
---------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Hansa Sanjay Shah
( 174,512)
6,167
( 168,345)
---------
-------
---------
10. Related party transactions
The company was under the control of Hansa Sanjay Shah (75%) throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.