IRIS Accounts Production v23.3.0.418 09667084 Board of Directors 1.1.22 31.12.22 31.12.22 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh096670842021-12-31096670842022-12-31096670842022-01-012022-12-31096670842020-12-31096670842021-01-012021-12-31096670842021-12-3109667084ns10:Originalns15:EnglandWales2022-01-012022-12-3109667084ns14:PoundSterlingns10:Original2022-01-012022-12-3109667084ns10:Originalns10:Director12022-01-012022-12-3109667084ns10:Original2022-01-012022-12-3109667084ns10:Original2022-12-3109667084ns10:Originalns10:PrivateLimitedCompanyLtd2022-01-012022-12-3109667084ns10:Originalns10:SmallEntities2022-01-012022-12-3109667084ns10:Originalns10:AuditExempt-NoAccountantsReport2022-01-012022-12-3109667084ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-01-012022-12-3109667084ns10:SmallCompaniesRegimeForAccountsns10:Original2022-01-012022-12-3109667084ns10:Originalns10:FullAccounts2022-01-012022-12-3109667084ns10:Originalns10:OrdinaryShareClass12022-01-012022-12-3109667084ns10:Originalns10:Director22022-01-012022-12-3109667084ns10:Originalns10:Director32022-01-012022-12-3109667084ns10:Originalns10:RegisteredOffice2022-01-012022-12-3109667084ns10:Original2021-12-3109667084ns10:Originalns5:CurrentFinancialInstruments2022-12-3109667084ns10:Originalns5:CurrentFinancialInstruments2021-12-3109667084ns10:Originalns5:Non-currentFinancialInstruments2022-12-3109667084ns10:Originalns5:Non-currentFinancialInstruments2021-12-3109667084ns5:ShareCapitalns10:Original2022-12-3109667084ns5:ShareCapitalns10:Original2021-12-3109667084ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3109667084ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2021-12-3109667084ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-12-3109667084ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-12-3109667084ns10:Originalns5:FurnitureFittings2022-01-012022-12-3109667084ns10:Originalns5:MotorVehicles2022-01-012022-12-3109667084ns10:Original2021-01-012021-12-3109667084ns10:Originalns5:LandBuildings2021-12-3109667084ns10:Originalns5:FurnitureFittings2021-12-3109667084ns10:Originalns5:MotorVehicles2021-12-3109667084ns10:Original2021-12-3109667084ns10:Originalns5:LandBuildings2022-01-012022-12-3109667084ns10:Originalns5:LandBuildings2022-12-3109667084ns10:Originalns5:FurnitureFittings2022-12-3109667084ns10:Originalns5:MotorVehicles2022-12-3109667084ns10:Originalns5:LandBuildings2021-12-3109667084ns10:Originalns5:FurnitureFittings2021-12-3109667084ns10:Originalns5:MotorVehicles2021-12-3109667084ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3109667084ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2021-12-3109667084ns10:Originalns5:Non-currentFinancialInstruments2022-01-012022-12-3109667084ns10:Originalns10:OrdinaryShareClass12022-12-3109667084ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2021-12-31
REGISTERED NUMBER: 09667084 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Manhatten Property Solutions Limited

Manhatten Property Solutions Limited (Registered number: 09667084)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Manhatten Property Solutions Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: D Smith
E R Smith
S Smith





REGISTERED OFFICE: Lien Hosue
High Street
Skelton-in-Cleveland
Saltburn-by-the-Sea
TS12 2EA





REGISTERED NUMBER: 09667084 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff LLP
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Manhatten Property Solutions Limited (Registered number: 09667084)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,587,616 1,204,205

CURRENT ASSETS
Stocks - 191,940
Debtors 5 1,192,100 179,149
Cash at bank 17,729 15,803
1,209,829 386,892
CREDITORS
Amounts falling due within one year 6 1,560,591 402,382
NET CURRENT LIABILITIES (350,762 ) (15,490 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,236,854

1,188,715

CREDITORS
Amounts falling due after more than one
year

7

(987,681

)

(894,227

)

PROVISIONS FOR LIABILITIES (103,008 ) (105,640 )
NET ASSETS 146,165 188,848

CAPITAL AND RESERVES
Called up share capital 9 20 20
Un-distributable reserve 10 577,387 418,604
Retained earnings (431,242 ) (229,776 )
SHAREHOLDERS' FUNDS 146,165 188,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Manhatten Property Solutions Limited (Registered number: 09667084)

Balance Sheet - continued
31 December 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2023 and were signed on its behalf by:





D Smith - Director


Manhatten Property Solutions Limited (Registered number: 09667084)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Manhatten Property Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover represents rents received, excluding value added tax, recognised on the date of holiday departure. Monies received by the balance sheet date relating to holidays departing after the period end are included within current liabilities and deferred income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost and 20% on cost

Land and buildings are not depreciated. They are restated to their fair value at the end of each accounting period with any changes in fair value being taken to the fair value reserve.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

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

Manhatten Property Solutions Limited (Registered number: 09667084)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2022 1,165,000 34,115 15,799 1,214,914
Additions 223,268 5,905 14,799 243,972
Revaluations 151,732 - - 151,732
Reclassification/transfer - 1,438 - 1,438
At 31 December 2022 1,540,000 41,458 30,598 1,612,056
DEPRECIATION
At 1 January 2022 - 8,076 2,633 10,709
Charge for year - 7,111 5,183 12,294
Reclassification/transfer - 1,437 - 1,437
At 31 December 2022 - 16,624 7,816 24,440
NET BOOK VALUE
At 31 December 2022 1,540,000 24,834 22,782 1,587,616
At 31 December 2021 1,165,000 26,039 13,166 1,204,205

Manhatten Property Solutions Limited (Registered number: 09667084)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2022 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2017 145,000 - 145,000
Valuation in 2018 140,000 - 140,000
Valuation in 2019 75,150 - 75,150
Valuation in 2020 120,000 - 120,000
Valuation in 2021 36,645 - 36,645
Valuation in 2022 151,732 - 151,732
Cost 871,473 72,056 943,529
1,540,000 72,056 1,612,056

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2022 2021
£    £   
Cost 871,473 648,205

Freehold land and buildings were valued on an open market basis on 30 December 2022 by Manhatten Property Management Limited .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors - 9,880
Amounts owed by group undertakings 771,086 141,940
Other debtors 421,014 27,329
1,192,100 179,149

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 114,828 -
Finance leases 7,960 2,929
Trade creditors 24,823 163,499
Amounts owed to group undertakings 1,016,857 195,744
Taxation and social security - 1,277
Other creditors 396,123 38,933
1,560,591 402,382

Manhatten Property Solutions Limited (Registered number: 09667084)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 733,391 659,903
Finance leases 22,872 9,766
Other creditors 231,418 224,558
987,681 894,227

Bank loans totalling £623,545 fall due in more than five years.

8. SECURED DEBTS

Bank loans totalling £811,162 (2021: £614,278) are secured by legal charges over the properties to which they relate. £81,109 (2021: £nil) of this is also secured by a debenture and by personal guarantees from the directors of the company.

Finance leases totalling £30,832 (2021: £12,695) are secured over the assets to which they relate.

An other loan totalling £325,418 (2021: £150,000) is secured by a debenture and a legal charge over the property to which it relates.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
20 Ordinary £1 20 20

10. RESERVES
Un-distributable
reserve
£   
At 1 January 2022 418,604
Transfer to/from profit and lo
ss reserve 158,783

At 31 December 2022 577,387

11. PARENT UNDERTAKING

The immediate and ultimate parent company is SDDE Smith Group Limited. These financial statements are included in the consolidated financial statements of SDDE Smith Group Limited. The parent's registered office address is Lien House 120 High Street, Skelton-In-Cleveland, Saltburn-By-The-Sea, England, TS12 2EA.