Registered number
05020651
MANU PROPERTIES LIMITED
Filleted Accounts
31 March 2023
MANU PROPERTIES LIMITED
Registered number: 05020651
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,088,042 1,174,711
Current assets
Debtors 4 9,242 6,571
Cash at bank and in hand 7,843 1,731
17,085 8,302
Creditors: amounts falling due within one year 5 (80,412) (80,740)
Net current liabilities (63,327) (72,438)
Total assets less current liabilities 1,024,715 1,102,273
Creditors: amounts falling due after more than one year 6 (603,419) (767,208)
Net assets 421,296 335,065
Capital and reserves
Called up share capital 2 2
Profit and loss account 391,384 335,063
Shareholder's funds 391,386 335,065
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Prit Paul Singh Mandair
Director
Approved by the board on 5 September 2023
MANU PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery Reducing balance 25%
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 1,174,631 7,540 1,182,171
Disposals (86,653) - (86,653)
At 31 March 2023 1,087,978 7,540 1,095,518
Depreciation
At 1 April 2022 - 7,460 7,460
Charge for the year - 16 16
At 31 March 2023 - 7,476 7,476
Net book value
At 31 March 2023 1,087,978 64 1,088,042
At 31 March 2022 1,174,631 80 1,174,711
Freehold land and buildings: 2023 2022
£ £
Historical cost 1,087,978 1,174,631
Cumulative depreciation based on historical cost - -
1,087,978 1,174,631
Current value as per director is about £1.4m @ 6% return.
4 Debtors 2023 2022
£ £
Trade debtors 9,242 6,571
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 48,600 52,929
Corporation tax 18,595 12,419
Other creditors and prepaid rent deposits 13,217 15,392
80,412 80,740
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 222,247 381,306
Amounts owed to group undertakings and undertakings in which the company has a participating interest 323,100 323,100
Directors loan account 58,072 62,802
603,419 767,208
7 Other information
MANU PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
21 Colbert Avenue
Southend-on-Sea
Essex
SS1 3BH
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