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Registration number: 11106776

Manor Farm Developments (Coveney) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023



























 

 

Manor Farm Developments (Coveney) Limited
(Registration number: 11106776)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Manor Farm Developments (Coveney) Limited
(Registration number: 11106776)

Company Information

Directors

J J Palmer

F L Palmer

Registered office

Manor Farm
Main Street
Coveney
Ely
CB6 2DJ

Registered number

11106776

 

Manor Farm Developments (Coveney) Limited
(Registration number: 11106776)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

17,690

21,189

Current assets

 

Debtors

5

8,061

9,695

Cash at bank and in hand

 

603

6,956

 

8,664

16,651

Creditors: Amounts falling due within one year

6

(12,736)

(16,993)

Net current liabilities

 

(4,072)

(342)

Total assets less current liabilities

 

13,618

20,847

Creditors: Amounts falling due after more than one year

6

(24,527)

(38,264)

Net liabilities

 

(10,909)

(17,417)

Capital and Reserves

 

Called up share capital

100

100

Retained Earnings

(11,009)

(17,517)

Shareholders' deficit

 

(10,909)

(17,417)

 

Manor Farm Developments (Coveney) Limited
(Registration number: 11106776)

Balance Sheet as at 31 December 2023

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.

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 13 September 2024 and signed on its behalf by:
 

.........................................
J J Palmer
Director

 

Manor Farm Developments (Coveney) Limited
(Registration number: 11106776)

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.

The address of its registered office is:
Manor Farm
Main Street
Coveney
Ely
CB6 2DJ

These financial statements were authorised for issue by the Board on 13 September 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).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

Going concern

The financial statements have been prepared on a going concern basis given that the company's major creditors are the directors, who intend to continue their support of the company for the foreseeable future.

Revenue recognition

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.

 

Manor Farm Developments (Coveney) Limited
(Registration number: 11106776)

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

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

Equipment, fixtures and fittings

25% reducing balance

Motor vehicles

25% reducing balance

Plant and machinery

20% reducing balance

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 and subsequently measured at amortised cost using the effective interest method.

 

Manor Farm Developments (Coveney) Limited
(Registration number: 11106776)

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

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Manor Farm Developments (Coveney) Limited
(Registration number: 11106776)

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

4

Tangible Assets

Equipment, fixtures and fittings
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

3,051

16,995

23,510

43,556

Additions

1,033

-

-

1,033

At 31 December 2023

4,084

16,995

23,510

44,589

Depreciation

At 1 January 2023

2,327

4,249

15,791

22,367

Charge for the year

439

2,549

1,544

4,532

At 31 December 2023

2,766

6,798

17,335

26,899

Carrying amount

At 31 December 2023

1,318

10,197

6,175

17,690

At 31 December 2022

724

12,746

7,719

21,189

5

Debtors

2023
£

2022
£

Prepayments

7,641

7,531

Other debtors

420

2,164

8,061

9,695

 

Manor Farm Developments (Coveney) Limited
(Registration number: 11106776)

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade Creditors

55

-

Taxation and social security

785

621

Accruals

1,130

1,325

Amounts owed to undertakings in which the company directors' have a participating interest

10,766

15,047

12,736

16,993

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

24,527

38,264

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

24,527

38,264

Included in other borrowings is a balance of £4,572 (2022 - £22,454) in respect of loans by the directors to the company. These loans have no fixed date for repayment.