Manor Wood Limited 06517053 false 2023-03-01 2024-02-28 2024-02-28 The principal activity of the company is that of egg sales Digita Accounts Production Advanced 6.30.9574.0 true 06517053 2023-03-01 2024-02-28 06517053 2024-02-28 06517053 core:CurrentFinancialInstruments 2024-02-28 06517053 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 06517053 core:Non-currentFinancialInstruments 2024-02-28 06517053 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-28 06517053 core:FurnitureFittings 2024-02-28 06517053 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-28 06517053 core:MotorVehicles 2024-02-28 06517053 core:PlantMachinery 2024-02-28 06517053 bus:SmallEntities 2023-03-01 2024-02-28 06517053 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-28 06517053 bus:FullAccounts 2023-03-01 2024-02-28 06517053 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 06517053 bus:RegisteredOffice 2023-03-01 2024-02-28 06517053 bus:CompanySecretaryDirector1 2023-03-01 2024-02-28 06517053 bus:Director1 2023-03-01 2024-02-28 06517053 bus:Director2 2023-03-01 2024-02-28 06517053 bus:Director4 2023-03-01 2024-02-28 06517053 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 06517053 core:FurnitureFittings 2023-03-01 2024-02-28 06517053 core:LandBuildings 2023-03-01 2024-02-28 06517053 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 06517053 core:MotorVehicles 2023-03-01 2024-02-28 06517053 core:PlantMachinery 2023-03-01 2024-02-28 06517053 countries:England 2023-03-01 2024-02-28 06517053 2023-02-28 06517053 core:FurnitureFittings 2023-02-28 06517053 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 06517053 core:MotorVehicles 2023-02-28 06517053 core:PlantMachinery 2023-02-28 06517053 2022-03-01 2023-02-28 06517053 2023-02-28 06517053 core:CurrentFinancialInstruments 2023-02-28 06517053 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 06517053 core:Non-currentFinancialInstruments 2023-02-28 06517053 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 06517053 core:FurnitureFittings 2023-02-28 06517053 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 06517053 core:MotorVehicles 2023-02-28 06517053 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 06517053

Manor Wood Limited

Unaudited Filleted Financial Statements

for the Period from 1 March 2023 to 28 February 2024

 

Manor Wood Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Manor Wood Limited

Company Information

Directors

M D Artley

I H Sinkler

L Artley

H N Sinkler

Company secretary

L Artley

Registered office

Manor Farm
Meaux Road
Routh
Beverley
East Yorkshire
HU17 9SR

 

Manor Wood Limited

(Registration number: 06517053)
Balance Sheet as at 28 February 2024

2024
£

2023
£

Fixed assets

Tangible assets

1,046,163

1,006,918

Current assets

Stocks

-

138,429

Debtors

37,748

116,823

Cash at bank and in hand

171,828

41,435

209,576

296,687

Creditors: Amounts falling due within one year

(442,415)

(324,495)

Net current liabilities

(232,839)

(27,808)

Total assets less current liabilities

813,324

979,110

Creditors: Amounts falling due after more than one year

-

(173,692)

Provisions for liabilities

(83,991)

(48,417)

Net assets

729,333

757,001

Capital and reserves

Called up share capital

200

200

Share premium reserve

34,900

34,900

Retained earnings

694,233

721,901

Shareholders' funds

729,333

757,001

For the financial period ending 28 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The Directors acknowledge their 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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 8 August 2024 and signed on its behalf by:
 

.........................................
H N Sinkler
Director

 

Manor Wood Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

1

General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 06517053.

The address of its registered office is:
Manor Farm
Meaux Road
Routh
Beverley
East Yorkshire
HU17 9SR

These financial statements were authorised for issue by the Board on 8 August 2024.

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.

The financial statements are presented in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of eggs 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.

 

Manor Wood Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Buildings

2% on cost

Plant and Machinery

15% reducing balance

Motor Vehicle

25% reducing balance

Fixtures & Fittings

15% reducing balance

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 debtors

Trade debtors are amounts due from customers for the sale of goods and the provision of services in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Manor Wood Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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 Directors) during the period, was 8 (2023 - 8).

 

Manor Wood Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

958,269

8,383

818,906

1,850

1,787,408

Additions

56,011

-

33,014

-

89,025

At 28 February 2024

1,014,280

8,383

851,920

1,850

1,876,433

Depreciation

At 1 March 2023

152,280

1,970

624,765

1,475

780,490

Charge for the period

19,259

962

29,465

94

49,780

At 28 February 2024

171,539

2,932

654,230

1,569

830,270

Carrying amount

At 28 February 2024

842,741

5,451

197,690

281

1,046,163

At 28 February 2023

805,989

6,413

194,141

375

1,006,918

Included within the net book value of land and buildings above is £842,741 (2023 - £805,989) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

-

138,429

6

Debtors

2024
£

2023
£

Trade debtors

9,439

105,785

Prepayments

10,367

242

Other debtors

17,942

10,796

37,748

116,823

 

Manor Wood Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

175,000

201,143

Trade creditors

 

196,997

119,817

Taxation and social security

 

43,529

1,749

Accruals and deferred income

 

1,418

1,439

Other creditors

 

25,471

347

 

442,415

324,495

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

173,692

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

-

40,126

Other borrowings

175,000

161,017

175,000

201,143

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

-

173,692

Bank loans and borrowings are secured on the assets they relate to.

Other borrowings relate to unsecured director loans.

 

Manor Wood Limited

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

9

Related party transactions

M Artley
At the year end, the company owed the director £50,000 (2023: £77,710). This amount is unsecured, interest free and repayable on demand.

H Sinkler
At the year end, the company owed the director £50,000 (2023: £83,307). This amount is unsecured, interest free and repayable on demand.

Management fees of £30,000 were paid to the director during the year.

L Artley
At the year end , the company owed the director £50,000 (2023: £Nil). This amount is unsecured, interest free and repayable on demand.

I Sinkler
At the year end, the company owed the director £25,000 (2023: £Nil). This amount is unsecured, interest free and repayable on demand.

M Sinkler
At the year end, the company owed the shareholder £25,000 (2023: £Nil). This amount is unsecured, interest free and repayable on demand

H N Sinkler & Son Limited

At the year end, there was a trade creditor balance of £106,889 (2023 : £119,281).

At the year end, there was a trade debtor balance of £440 (2023: £53).