Registered number
SC127047
Manor Forrest Limited
Unaudited Filleted Accounts
31 July 2023
Manor Forrest Limited
Registered number: SC127047
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 342,248 346,678
Investments 4 2 2
342,250 346,680
Current assets
Stocks 1,469,221 1,514,772
Debtors 5 4,472,362 4,392,817
Cash at bank and in hand 6,268 61,867
5,947,851 5,969,456
Creditors: amounts falling due within one year 6 (3,822,907) (3,845,111)
Net current assets 2,124,944 2,124,345
Total assets less current liabilities 2,467,194 2,471,025
Creditors: amounts falling due after more than one year 7 (11,000) (17,000)
Net assets 2,456,194 2,454,025
Capital and reserves
Called up share capital 10,000 10,000
Revaluation reserve 8 4,511 4,511
Profit and loss account 2,441,683 2,439,514
Shareholders' funds 2,456,194 2,454,025
The directors are 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 directors acknowledge their 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.
F A C Stewart
Director
Approved by the board on 4 April 2024
Manor Forrest 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 (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:
Freehold buildings (other than investment property) over 50 years
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 5 years
Investment Property
Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 359,981 49,105 31,500 440,586
At 31 July 2023 359,981 49,105 31,500 440,586
Depreciation
At 1 August 2022 26,269 46,106 21,533 93,908
Charge for the year 1,200 738 2,492 4,430
At 31 July 2023 27,469 46,844 24,025 98,338
Net book value
At 31 July 2023 332,512 2,261 7,475 342,248
At 31 July 2022 333,712 2,999 9,967 346,678
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 August 2022 2
At 31 July 2023 2
5 Debtors 2023 2022
£ £
Trade debtors 22,560 22,560
Amounts owed by group undertakings and undertakings in which the company has a participating interest 357,171 310,511
Deferred tax asset 115,796 93,456
Other debtors 3,976,835 3,966,290
4,472,362 4,392,817
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,000 6,000
Trade creditors 147,468 145,944
Taxation and social security costs 14,136 11,737
Other creditors 3,655,303 3,681,430
3,822,907 3,845,111
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 11,000 17,000
8 Revaluation reserve 2023 2022
£ £
At 1 August 2022 4,511 4,511
At 31 July 2023 4,511 4,511
9 Other information
Manor Forrest Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
Atrium House
Callendar Business Park
Falkirk
FK1 1XR
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