Company registration number 06625098 (England and Wales)
Manybrook 2008 Limited
Unaudited financial statements
For the year ended 30 June 2023
Manybrook 2008 Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Manybrook 2008 Limited
Statement of financial position
As at 30 June 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
263
329
Investment property
4
89,089
89,089
89,352
89,418
Current assets
Debtors
5
-
0
490
Cash at bank and in hand
4,519
6,441
4,519
6,931
Creditors: amounts falling due within one year
6
(72,793)
(82,272)
Net current liabilities
(68,274)
(75,341)
Net assets
21,078
14,077
Capital and reserves
Called up share capital
45,200
35,200
Profit and loss reserves
(24,122)
(21,123)
Total equity
21,078
14,077

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved and signed by the director and authorised for issue on 14 February 2024
Mr M T Coupe
Director
Company Registration No. 06625098
Manybrook 2008 Limited
Notes to the financial statements
For the year ended 30 June 2023
- 2 -
1
Accounting policies
Company information

Manybrook 2008 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Sunningdale, Stone, Staffordshire, ST15 0LZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

Revenue from rentals of land and property are recognised when the amount of revenue can be measured reliably, it is probable that the economical benefits associated with the transactions will flow to the entity and the costs incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% per annum of net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment property

Investment property, which comprises of land only, is held to earn rentals and/or for capital appreciation. The land is recognised at cost, which includes the purchase cost and any directly attributable expenditure.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Manybrook 2008 Limited
Notes to the financial statements (continued)
For the year ended 30 June 2023
1
Accounting policies
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

1.6
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.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable.

Manybrook 2008 Limited
Notes to the financial statements (continued)
For the year ended 30 June 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average number of persons employed by the company during the year was Nil (2022 - Nil).

 

3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 July 2022 and 30 June 2023
2,143
Depreciation and impairment
At 1 July 2022
1,814
Depreciation charged in the year
66
At 30 June 2023
1,880
Carrying amount
At 30 June 2023
263
At 30 June 2022
329
4
Investment property
2023
£
Fair value
At 1 July 2022 and 30 June 2023
89,089

Investment property comprises of land only. The land is included at cost and has not been revalued.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
-
0
490
Manybrook 2008 Limited
Notes to the financial statements (continued)
For the year ended 30 June 2023
- 5 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
72,793
82,272
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