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COMPANY REGISTRATION NUMBER: 06307195
Manor Mortgages Limited
Filleted Unaudited Financial Statements
31 March 2024
Manor Mortgages Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
66,373
39,389
Current assets
Debtors
6
1,599
3,620
Cash at bank and in hand
19,606
17,781
--------
--------
21,205
21,401
Creditors: amounts falling due within one year
7
82,056
55,225
--------
--------
Net current liabilities
60,851
33,824
--------
--------
Total assets less current liabilities
5,522
5,565
-------
-------
Net assets
5,522
5,565
-------
-------
Capital and reserves
Called up share capital
100
100
Profit and loss account
5,422
5,465
-------
-------
Shareholders funds
5,522
5,565
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Manor Mortgages Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 19 April 2024 , and are signed on behalf of the board by:
Mr D Crabtree
Director
Company registration number: 06307195
Manor Mortgages Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Deferred taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
15% reducing balance
Motor vehicles
-
15% reducing balance
Computer equipment
-
15% reducing balance
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 4 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2023
14,768
51,490
19,529
85,787
Additions
4,259
50,000
54,259
Disposals
( 50,990)
( 50,990)
--------
--------
--------
--------
At 31 March 2024
19,027
50,500
19,529
89,056
--------
--------
--------
--------
Depreciation
At 1 April 2023
7,591
26,610
12,197
46,398
Charge for the year
1,795
1,100
2,895
Disposals
( 26,610)
( 26,610)
--------
--------
--------
--------
At 31 March 2024
9,386
13,297
22,683
--------
--------
--------
--------
Carrying amount
At 31 March 2024
9,641
50,500
6,232
66,373
--------
--------
--------
--------
At 31 March 2023
7,177
24,880
7,332
39,389
--------
--------
--------
--------
6. Debtors
2024
2023
£
£
Other debtors
1,599
3,620
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
3,278
Social security and other taxes
176
197
Other creditors
78,602
55,028
--------
--------
82,056
55,225
--------
--------