Registered number
11270130
Manila Enterprises Limited
Report and Accounts
31 July 2023
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Manila Enterprises Limited
Registered number: 11270130
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 899,061 1,011,443
Current assets
Debtors 4 3,981 24,203
Cash at bank and in hand 118 12,165
4,099 36,368
Creditors: amounts falling due within one year 5 (632,858) (782,647)
Net current liabilities (628,759) (746,279)
Total assets less current liabilities 270,302 265,164
Creditors: amounts falling due after more than one year 6 - (36,000)
Net assets 270,302 229,164
Capital and reserves
Called up share capital 100 100
Profit and loss account 270,202 229,064
Shareholders' funds 270,302 229,164
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 members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Kashmir Cole
Director
Approved by the board on 8 November 2023
Manila Enterprises Limited
Notes to the Accounts
for the year ended 31 July 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.
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.
Intangible assets
The intangible asset is being written off over its expected life of 10 years on a straight line basis.

During the year the director reassessed the value of the investments and considered that its balance sheet value currently reflects a true value and that it should be amortised over 10 years from now. The effect of this change of accounting policy is to increase profits for the year by £34,204.
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 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 August 2022 1,465,859
At 31 July 2023 1,465,859
Amortisation
At 1 August 2022 454,416
Charge for the year 112,382
Surplus on revaluation -
On disposals -
At 31 July 2023 566,798
Net book value
At 31 July 2023 899,061
At 31 July 2022 1,011,443
Investment in subsidiary relates to the 100% shareholdings of the following two companies:
Growth 4 Businesses Limited
LSGK Accountants Ltd
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 153 10,631
Other debtors 3,828 13,572
3,981 24,203
5 Creditors: amounts falling due within one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 584,437 622,997
Other creditors 48,421 159,650
632,858 782,647
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors - 36,000
7 Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.
8 Controlling party
The company is controlled by its director and shareholders.
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