Silverfin false 31/03/2023 01/04/2022 31/03/2023 Andrew Tweedie Baker 05/01/2007 Diane Baker 05/01/2007 09 November 2023 The principal activity of the Company during the financial year was that of property rental. 05977103 2023-03-31 05977103 bus:Director1 2023-03-31 05977103 bus:Director2 2023-03-31 05977103 2022-03-31 05977103 core:CurrentFinancialInstruments 2023-03-31 05977103 core:CurrentFinancialInstruments 2022-03-31 05977103 core:ShareCapital 2023-03-31 05977103 core:ShareCapital 2022-03-31 05977103 core:OtherCapitalReserve 2023-03-31 05977103 core:OtherCapitalReserve 2022-03-31 05977103 core:RetainedEarningsAccumulatedLosses 2023-03-31 05977103 core:RetainedEarningsAccumulatedLosses 2022-03-31 05977103 core:OfficeEquipment 2022-03-31 05977103 core:OfficeEquipment 2023-03-31 05977103 2021-03-31 05977103 bus:OrdinaryShareClass1 2023-03-31 05977103 2022-04-01 2023-03-31 05977103 bus:FullAccounts 2022-04-01 2023-03-31 05977103 bus:SmallEntities 2022-04-01 2023-03-31 05977103 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05977103 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05977103 bus:Director1 2022-04-01 2023-03-31 05977103 bus:Director2 2022-04-01 2023-03-31 05977103 core:OfficeEquipment 2022-04-01 2023-03-31 05977103 2021-04-01 2022-03-31 05977103 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 05977103 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05977103 (England and Wales)

MANOR MILL LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

MANOR MILL LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

MANOR MILL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
MANOR MILL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 100 134
Investment property 4 1,500,000 1,500,000
1,500,100 1,500,134
Current assets
Debtors 5 30,781 12,940
Cash at bank and in hand 29,275 71,534
60,056 84,474
Creditors: amounts falling due within one year 6 ( 600,230) ( 651,001)
Net current liabilities (540,174) (566,527)
Total assets less current liabilities 959,926 933,607
Provision for liabilities 7 ( 116,378) ( 116,335)
Net assets 843,548 817,272
Capital and reserves
Called-up share capital 8 100 100
Other reserves 658,279 658,279
Profit and loss account 185,169 158,893
Total shareholders' funds 843,548 817,272

For the financial 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.

Directors' responsibilities:

The financial statements of Manor Mill Limited (registered number: 05977103) were approved and authorised for issue by the Director on 09 November 2023. They were signed on its behalf by:

Andrew Tweedie Baker
Director
MANOR MILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
MANOR MILL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Manor Mill Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Aishe Barton, Silverton, Exeter, EX5 4HF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net current liabilities of £540,174. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 April 2022 3,646 3,646
At 31 March 2023 3,646 3,646
Accumulated depreciation
At 01 April 2022 3,512 3,512
Charge for the financial year 34 34
At 31 March 2023 3,546 3,546
Net book value
At 31 March 2023 100 100
At 31 March 2022 134 134

4. Investment property

Investment property
£
Valuation
As at 01 April 2022 1,500,000
As at 31 March 2023 1,500,000

5. Debtors

2023 2022
£ £
Trade debtors 5,195 4,840
Other debtors 25,586 8,100
30,781 12,940

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 574,519 626,875
Accruals and deferred income 17,038 14,377
Corporation tax 6,121 4,854
Other taxation and social security 2,520 2,349
Other creditors 32 2,546
600,230 651,001

7. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 116,335) ( 116,284)
Charged to the Statement of Income and Retained Earnings ( 43) ( 51)
At the end of financial year ( 116,378) ( 116,335)

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

During the year the directors of the company maintained a current account with the company. At the year end the company owed the directors £574,519 (2022: £626,875). Interest is charged on the loan at 1.5% above the Bank of England based rate. This loan is shown in creditors due within one year as there are no set repayment dates.

10. Reserves

2023 2022
£ £
Profit and loss 185,169 158,893
Other reserves (non-distributable) 658,279 658,279
843,448 817,172

The profit and loss account reserves represents the accumulated results of the company less dividends paid.

The non-distributable reserves represent the accumulated difference between the historic cost of the property and fair value in the accounts, less any related deferred tax.