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REGISTERED NUMBER: 11559880 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Mana Properties Ltd

Mana Properties Ltd (Registered number: 11559880)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mana Properties Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTOR: E N Lines





REGISTERED OFFICE: Signature DIY Unit 6, Marina Court
Maple Drive
Hinckley
Leicestershire
LE10 3BF





REGISTERED NUMBER: 11559880 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

Mana Properties Ltd (Registered number: 11559880)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Investments 4 1,046,690 1,010,946
Investment property 5 1,567,944 1,547,250
2,614,634 2,558,196

CURRENT ASSETS
Debtors 6 - 9,155
Cash at bank 182,773 5,945
182,773 15,100
CREDITORS
Amounts falling due within one year 7 (1,179,760 ) (1,187,755 )
NET CURRENT LIABILITIES (996,987 ) (1,172,655 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,617,647

1,385,541

CREDITORS
Amounts falling due after more than one
year

8

(1,402,751

)

(1,167,529

)
NET ASSETS 214,896 218,012

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 214,895 218,011
214,896 218,012

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mana Properties Ltd (Registered number: 11559880)

Balance Sheet - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 February 2024 and were signed by:





E N Lines - Director


Mana Properties Ltd (Registered number: 11559880)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Mana Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Transition to FRS 102 Section 1A
These financial statements for the year ended 31 March 2023 are the first that are prepared in
accordance with FRS Section 102 Section 1A. The previous financial statements were prepared in
accordance with FRS 105. The date of transition to FRS 102 Section 1A is 1 April 2021.

No adjustments were required to the comparative figures on transition.

Going Concern
The company has net current liabilities and is dependent on the current support of the director for continuance of trade. The director intends to continue with such support and on that basis the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of such support.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Mana Properties Ltd (Registered number: 11559880)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2022 1,010,946
Additions 119,517
Disposals (74,543 )
Revaluations (9,230 )
At 31 March 2023 1,046,690
NET BOOK VALUE
At 31 March 2023 1,046,690
At 31 March 2022 1,010,946


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,547,250
Additions 20,694
At 31 March 2023 1,567,944
NET BOOK VALUE
At 31 March 2023 1,567,944
At 31 March 2022 1,547,250

The directors consider the fair value of investment property at the year end to be £1,567,944 on the basis of rental yield.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors - 9,155

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 8,500 8,500
Trade creditors 12,513 6,749
Amounts owed to group undertakings 1,152,236 1,152,236
Taxation and social security 2,606 19,820
Other creditors 3,905 450
1,179,760 1,187,755

Other creditors includes accruals and deferred income of £1,000 (2022 - £450).

Mana Properties Ltd (Registered number: 11559880)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 1,402,751 1,167,529

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 1,384,334 1,140,609

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 1,384,334 1,140,609

Bank loans are secured by fixed charges over the investment properties.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2023 and the period ended 31 March 2022:

31.3.23 31.3.22
£    £   
E N Lines
Balance outstanding at start of year 9,154 9,154
Amounts advanced 1 -
Amounts repaid (9,155 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 9,154

The above loan was interest free and repayable upon demand.