MANOR PROPERTY MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
MANOR PROPERTY MANAGEMENT LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
3
-
0
60,000
Current assets
Cash at bank and in hand
198,811
150,927
Creditors: amounts falling due within one year
4
(72,527)
(39,592)
Net current assets
126,284
111,335
Total assets less current liabilities
126,284
171,335
Capital and reserves
Called up share capital
5
10
10
Other reserves
-
0
20,715
Profit and loss reserves
126,274
150,610
Total equity
126,284
171,335
The notes on pages 3 - 5 form an integral part of these financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 20 August 2024 and are signed on its behalf by:
S Berry
Director
Company Registration No. 4635291
MANOR PROPERTY MANAGEMENT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Share capital
Other reserves
Profit and loss reserves
Total
£
£
£
£
Balance at 1 April 2022
10
20,715
167,738
188,463
Year ended 31 March 2023:
Profit and total comprehensive income
-
-
2,872
2,872
Dividends
-
-
(20,000)
(20,000)
Balance at 31 March 2023
10
20,715
150,610
171,335
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
35,664
35,664
Dividends
-
-
(60,000)
(60,000)
Other movements
-
(20,715)
-
(20,715)
Balance at 31 March 2024
10
-
126,274
126,284
Other reserves
Other reserves relates to the unrealised gains (net of taxation) on investment properties stated at fair value. The changes in fair value (net of taxation) are reflected through the Profit and Loss Account as required under FRS 102.
MANOR PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Manor Property Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 Nicholas Street, Burnley, Lancashire, BB11 2AL.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account before being transferred to a separate non distributable reserve.

1.3
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.

 

A financial instrument is a contract giving rise to a financial asset (such as trade and other debtors, cash and bank balances) or a financial liability (such as trade and other creditors, bank and other loans, hire purchase and lease creditors) or an equity instrument (such as ordinary or preference shares).

 

Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.

 

All the company's financial instruments are basic financial instruments and are recognised at amortised cost using the effective interest method.

 

Amortised cost: the original transaction value, less amounts settled, less any adjustment for impairment.

 

Effective interest method: where a financial instrument falls due more than 12 months after the balance sheet date and is subject to a rate of interest which is below a market rate, the original transaction value is discounted using a market rate of interest to give the net present value of future cash flows.

Derecognition of financial assets

Financial assets cease to be recognised only when the contractual rights to the cash flows expire, or when substantially all the risks and rewards of ownership are transferred to another entity.

 

Financial liabilities cease to be recognised when and only when the company's obligations are discharged, cancelled, or they expire.

MANOR PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

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.

1.5
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 April 2023
60,000
Disposals
(60,000)
At 31 March 2024
-
0

The company owns one freehold residential property which it lets to third parties. Mr S Berry, one of the directors of the company, has estimated the fair value of this property. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
69,737
36,880
Accruals and deferred income
2,790
2,712
72,527
39,592
MANOR PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10
10
10
10
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