Mannering Europe Limited 04889588 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of a holding company. Digita Accounts Production Advanced 6.30.9574.0 true false 04889588 2023-01-01 2023-12-31 04889588 2023-12-31 04889588 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-12-31 04889588 core:CurrentFinancialInstruments 2023-12-31 04889588 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04889588 core:Non-currentFinancialInstruments 2023-12-31 04889588 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 04889588 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 04889588 core:FurnitureFittings 2023-12-31 04889588 core:MotorVehicles 2023-12-31 04889588 core:OfficeEquipment 2023-12-31 04889588 core:PlantMachinery 2023-12-31 04889588 bus:SmallEntities 2023-01-01 2023-12-31 04889588 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04889588 bus:FullAccounts 2023-01-01 2023-12-31 04889588 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04889588 bus:RegisteredOffice 2023-01-01 2023-12-31 04889588 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 04889588 bus:Director2 2023-01-01 2023-12-31 04889588 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04889588 bus:Agent1 2023-01-01 2023-12-31 04889588 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 04889588 core:ComputerEquipment 2023-01-01 2023-12-31 04889588 core:FurnitureFittings 2023-01-01 2023-12-31 04889588 core:MotorVehicles 2023-01-01 2023-12-31 04889588 core:OfficeEquipment 2023-01-01 2023-12-31 04889588 core:PlantMachinery 2023-01-01 2023-12-31 04889588 countries:EnglandWales 2023-01-01 2023-12-31 04889588 2022-12-31 04889588 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 04889588 core:FurnitureFittings 2022-12-31 04889588 core:MotorVehicles 2022-12-31 04889588 core:OfficeEquipment 2022-12-31 04889588 core:PlantMachinery 2022-12-31 04889588 2022-01-01 2022-12-31 04889588 2022-12-31 04889588 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2022-12-31 04889588 core:CurrentFinancialInstruments 2022-12-31 04889588 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 04889588 core:Non-currentFinancialInstruments 2022-12-31 04889588 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 04889588 core:FurnitureFittings 2022-12-31 04889588 core:MotorVehicles 2022-12-31 04889588 core:OfficeEquipment 2022-12-31 04889588 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 04889588

Mannering Europe Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

image-name
 

Mannering Europe Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

Mannering Europe Limited

Company Information

Directors

Mrs AN Mann

Mr LA Mann

Company secretary

Mrs AN Mann

Registered office

22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

Accountants

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Mannering Europe Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mannering Europe Limited for the year ended 31 December 2023 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Mannering Europe Limited, as a body, in accordance with the terms of our instructions. Our work has been undertaken solely to prepare for your approval the accounts of Mannering Europe Limited and state those matters that we have agreed to state to the Board of Directors of Mannering Europe Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mannering Europe Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Mannering Europe Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mannering Europe Limited. You consider that Mannering Europe Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Mannering Europe Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

Date:.............................

 

Mannering Europe Limited

(Registration number: 04889588)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

84,890

96,486

Investments

6

3,481,860

1,630,001

Other financial assets

7

332,032

288,077

 

3,898,782

2,014,564

Current assets

 

Debtors

8

103,907

97,644

Cash at bank and in hand

 

326,637

860,007

 

430,544

957,651

Creditors: Amounts falling due within one year

9

(1,332,486)

(111,998)

Net current (liabilities)/assets

 

(901,942)

845,653

Total assets less current liabilities

 

2,996,840

2,860,217

Creditors: Amounts falling due after more than one year

9

(17,542)

(27,572)

Provisions for liabilities

(25,808)

(18,903)

Net assets

 

2,953,490

2,813,742

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,953,390

2,813,642

Shareholders' funds

 

2,953,490

2,813,742

For the financial year ending 31 December 2023 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 year 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.

 

Mannering Europe Limited

(Registration number: 04889588)
Balance Sheet as at 31 December 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 July 2024 and signed on its behalf by:
 

.........................................
Mr LA Mann
Director

 

Mannering Europe Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ
England

These financial statements were authorised for issue by the Board on 19 July 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.

Turnover

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.

 

Mannering Europe Limited

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

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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

Fixtures and fittings

25% on cost

Office equipment

33% on cost

Plant and machinery

2% on cost

Motor vehicles

25% on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademarks, patents and licenses

25% on cost

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Mannering Europe Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

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.

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.

 

Mannering Europe Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, including directors, was 6 (2022 - 6).

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 January 2023

1,995

1,995

At 31 December 2023

1,995

1,995

Amortisation

At 1 January 2023

1,995

1,995

At 31 December 2023

1,995

1,995

Carrying amount

At 31 December 2023

-

-

 

Mannering Europe Limited

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

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

7,403

21,000

10,128

92,167

130,698

Additions

4,063

432

10,002

330

14,827

Disposals

-

-

(1,091)

-

(1,091)

At 31 December 2023

11,466

21,432

19,039

92,497

144,434

Depreciation

At 1 January 2023

7,403

1,400

7,179

18,230

34,212

Charge for the year

254

424

2,640

23,104

26,422

Eliminated on disposal

-

-

(1,090)

-

(1,090)

At 31 December 2023

7,657

1,824

8,729

41,334

59,544

Carrying amount

At 31 December 2023

3,809

19,608

10,310

51,163

84,890

At 31 December 2022

-

19,600

2,949

73,937

96,486

6

Investments

2023
£

2022
£

Investments in subsidiaries

3,481,860

1,630,001

7

Other financial assets (current and non-current)

2023
£

2022
£

Non-current financial assets

Financial assets at fair value through profit and loss

332,032

288,077

 

Mannering Europe Limited

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

8

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

64,516

50,768

Amounts owed by related parties

-

13,203

Prepayments

 

14,391

8,673

Other debtors

 

25,000

25,000

   

103,907

97,644

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

10

10,000

10,000

Trade creditors

 

29,698

12,206

Other creditors

 

73,513

-

PAYE and NIC creditor

 

2,842

1,640

VAT Control account

 

101,753

24,141

Corporation tax control

 

167,757

53,332

Accruals

 

2,440

2,174

Directors current account

 

4,472

8,505

Amounts due to related parties

 

940,011

-

 

1,332,486

111,998

Due after one year

 

Loans and borrowings

10

17,542

27,572

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

17,542

27,572

 

Mannering Europe Limited

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

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

17,542

27,572

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000