Manderley Limited 09842901 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is that of rental of private dwellings Digita Accounts Production Advanced 6.30.9574.0 true true 09842901 2022-11-01 2023-10-31 09842901 2023-10-31 09842901 core:RetainedEarningsAccumulatedLosses 2023-10-31 09842901 core:ShareCapital 2023-10-31 09842901 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 09842901 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 09842901 bus:SmallEntities 2022-11-01 2023-10-31 09842901 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 09842901 bus:FilletedAccounts 2022-11-01 2023-10-31 09842901 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 09842901 bus:RegisteredOffice 2022-11-01 2023-10-31 09842901 bus:Director1 2022-11-01 2023-10-31 09842901 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09842901 countries:EnglandWales 2022-11-01 2023-10-31 09842901 2022-10-31 09842901 2021-11-01 2022-10-31 09842901 2022-10-31 09842901 core:RetainedEarningsAccumulatedLosses 2022-10-31 09842901 core:ShareCapital 2022-10-31 09842901 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 09842901 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 09842901

Manderley Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Manderley Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Manderley Limited

Company Information

Director

Mr A Pforter

Registered office

41 Archery Road
Leamington Spa
Warwickshire
CV31 3PT

 

Manderley Limited

(Registration number: 09842901)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

555,810

651,080

Current assets

 

Cash at bank and in hand

 

23

84

Creditors: Amounts falling due within one year

5

(61,070)

(16,807)

Net current liabilities

 

(61,047)

(16,723)

Total assets less current liabilities

 

494,763

634,357

Creditors: Amounts falling due after more than one year

5

(100,000)

(310,600)

Provisions for liabilities

(48,534)

(48,534)

Net assets

 

346,229

275,223

Capital and reserves

 

Called up share capital

100

100

Retained earnings

346,129

275,123

Shareholders' funds

 

346,229

275,223

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 March 2024
 

.........................................
Mr A Pforter
Director

   
     
 

Manderley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
41 Archery Road
Leamington Spa
Warwickshire
CV31 3PT
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Manderley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Manderley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investment properties

2023
£

At 1 November

651,080

Additions

7,740

Disposals

(193,010)

Fair value adjustments

90,000

At 31 October

555,810

The property was valued by a firm of Chartered Surveyors in October 2022.

 

Manderley Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6

44,601

12,676

Taxation and social security

 

15,155

2,896

Accruals and deferred income

 

1,314

1,236

Other creditors

 

-

(1)

 

61,070

16,807

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

100,000

310,600

6

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Directors loan account

100,000

310,600

2023
£

2022
£

Current loans and borrowings

Directors current account

44,601

12,676

7

Profit & loss reserves

Due to recognised gains on the investment property and the associated deferred tax provision, the distributable earnings as at 31 October 2023 are £139,579 (2022 - £73,657).