Company registration number 02409155 (England and Wales)
MANYPLANS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
MANYPLANS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
MANYPLANS LIMITED
BALANCE SHEET
AS AT 28 SEPTEMBER 2023
28 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,683
3,316
Current assets
Debtors
5
65,032
406,388
Cash at bank and in hand
30,894
31,050
95,926
437,438
Creditors: amounts falling due within one year
6
(21,260)
(16,260)
Net current assets
74,666
421,178
Net assets
77,349
424,494
Capital and reserves
Called up share capital
2
2
Share premium account
31,000
31,000
Profit and loss reserves
46,347
393,492
Total equity
77,349
424,494
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
Mr M Brettler
Director
Company registration number 02409155 (England and Wales)
MANYPLANS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2023
- 2 -
1
Accounting policies
Company information
Manyplans Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Station Road, Beaconsfield, Buckinghamshire, HP9 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for sales of assets and rental income net of VAT and trade discounts. Revenue is recognised in the period to which it relates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and machinery
5% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
MANYPLANS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
There were no employees in the current or comparative period.
3
Taxation
The company has unused losses of £1,099,404 (2022: £753,008) to carry forward against future taxable profits.
MANYPLANS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2023
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 29 September 2022 and 28 September 2023
12,669
Depreciation and impairment
At 29 September 2022
9,353
Depreciation charged in the year
633
At 28 September 2023
9,986
Carrying amount
At 28 September 2023
2,683
At 28 September 2022
3,316
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
61,410
402,650
Deferred tax asset
3,622
3,738
65,032
406,388
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
21,260
16,260
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
David Sharp
Statutory Auditor:
Rouse Audit LLP
Date of audit report:
29 July 2024
MANYPLANS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 SEPTEMBER 2023
- 5 -
8
Parent company
The company's immediate parent undertaking is Lauderdale Mansions (South) Limited, a company incorporated in England and Wales. It's registered office is 55 Station Road, Beaconsfield, Buckinghamshire, HP9 1QL.