Registered number
00551164
Manor Foundry (Ilkeston) Limited (The)
Filleted Accounts
30 June 2023
Manor Foundry (Ilkeston) Limited (The)
Registered number: 00551164
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 18,217 22,447
Current assets
Stocks - 46,595
Debtors 4 31,163 140,458
Cash at bank and in hand 55,801 57,441
86,964 244,494
Creditors: amounts falling due within one year 5 (51,778) (113,341)
Net current assets 35,186 131,153
Net assets 53,403 153,600
Capital and reserves
Called up share capital 1,350 1,350
Profit and loss account 52,053 152,250
Shareholders' funds 53,403 153,600
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.
Gillian Wicks
Director
Approved by the board on 6 March 2024
Manor Foundry (Ilkeston) Limited (The)
Notes to the Accounts
for the year ended 30 June 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 over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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 14 14
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2022 24,194 103,557 127,751
Additions - 480 480
Disposals - (3,100) (3,100)
At 30 June 2023 24,194 100,937 125,131
Depreciation
At 1 July 2022 13,703 91,601 105,304
Charge for the year 210 1,400 1,610
At 30 June 2023 13,913 93,001 106,914
Net book value
At 30 June 2023 10,281 7,936 18,217
At 30 June 2022 10,491 11,956 22,447
4 Debtors 2023 2022
£ £
Trade debtors 31,035 140,458
Other debtors 128 -
31,163 140,458
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 29,483 65,427
Taxation and social security costs 21,455 32,124
Other creditors 840 15,790
51,778 113,341
6 Other information
Manor Foundry (Ilkeston) Limited (The) is a private company limited by shares and incorporated in England. Its registered office is:
13a Pelham Street
Ilkeston
Derbyshire
DE7 8AR
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