Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false02023-01-01Property investment0truefalse 01550945 2023-01-01 2023-12-31 01550945 2022-01-01 2022-12-31 01550945 2023-12-31 01550945 2022-12-31 01550945 c:Director1 2023-01-01 2023-12-31 01550945 d:FreeholdInvestmentProperty 2023-12-31 01550945 d:FreeholdInvestmentProperty 2022-12-31 01550945 d:CurrentFinancialInstruments 2023-12-31 01550945 d:CurrentFinancialInstruments 2022-12-31 01550945 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01550945 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01550945 d:ShareCapital 2023-12-31 01550945 d:ShareCapital 2022-12-31 01550945 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 01550945 d:RetainedEarningsAccumulatedLosses 2023-12-31 01550945 d:RetainedEarningsAccumulatedLosses 2022-12-31 01550945 c:OrdinaryShareClass1 2023-01-01 2023-12-31 01550945 c:OrdinaryShareClass1 2023-12-31 01550945 c:OrdinaryShareClass2 2023-01-01 2023-12-31 01550945 c:OrdinaryShareClass2 2023-12-31 01550945 c:FRS102 2023-01-01 2023-12-31 01550945 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 01550945 c:FullAccounts 2023-01-01 2023-12-31 01550945 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01550945 d:OtherDeferredTax 2023-12-31 01550945 d:OtherDeferredTax 2022-12-31 01550945 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01550945














MANYWELL HEIGHTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
MANYWELL HEIGHTS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
MANYWELL HEIGHTS LIMITED
REGISTERED NUMBER:01550945

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
150,000
150,000

Current assets
  

Debtors: amounts falling due within one year
 5 
5,474,267
5,472,563

Cash at bank and in hand
  
3,072
3,712

  
5,477,339
5,476,275

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(5,500)
(5,500)

Net current assets
  
 
 
5,471,839
 
 
5,470,775

Total assets less current liabilities
  
5,621,839
5,620,775

Provisions for liabilities
  

Deferred tax
 7 
(36,463)
(36,463)

Net assets
  
5,585,376
5,584,312


Capital and reserves
  

Called up share capital 
 8 
50,000
50,000

Profit and loss account
 9 
5,535,376
5,534,312

  
5,585,376
5,584,312


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

Page 1

 
MANYWELL HEIGHTS LIMITED
REGISTERED NUMBER:01550945
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 June 2024.




C G Rifkind
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MANYWELL HEIGHTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Manywell Heights Limited is a private limited liability company incorporated in England and Wales with its principal place of business and registered office at The Tea House, 17 Hall Road, London, NW8 9RF.
The principal activity of the company continued to be that of property investment.
The company's functional and presentational currency is £ Sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises ground rent receivable. 
Rent is recognised in the period to which it relates.

 
2.3

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 
MANYWELL HEIGHTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.5

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by deposits with financial institutions.

 
2.7

Creditors

Short term creditors are measured at the transaction price. 

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans from or to related parties.


3.


Employees

The director was the only employee of the company during the current and preceding period.



4.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
150,000



At 31 December 2023
150,000

The 2023 valuations were made by the director, on an open market value for existing use basis.






5.


Debtors

2023
2022
£
£
Page 4

 
MANYWELL HEIGHTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.Debtors (continued)



Amounts owed by group undertakings
5,474,267
5,472,563



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
5,500
5,500


Page 5

 
MANYWELL HEIGHTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Deferred taxation




2023


£






At beginning of year
(36,463)



At end of year
(36,463)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fair value adjustments
36,463
36,463


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



45,000 Ordinary shares of £1 each
45,000
45,000
5,000 'A' Ordinary shares of £1 each
5,000
5,000

50,000

50,000



9.


Reserves

Profit and loss account

Included in profit and loss account reserves are unrealised fair value adjustments net of related deferred taxation amounting to £111,537 (2022 - £111,537).


10.


Related party transactions

The Company has taken advantage of the exemption under FRS102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.


11.


Controlling party

The Company is a wholly owned subsidiary of Teahouse Associates Limited, a company registered in England and Wales, which the director regards as the ultimate parent company. C G Rifkind, a director of the Company, is the ultimate controlling party.

 
Page 6